Parsley Energy, Inc. (PE) to Post FY2017 Earnings of $0.46 Per Share, KeyCorp Forecasts
Parsley Energy, Inc. (NYSE:PE) – Investment analysts at KeyCorp upped their FY2017 earnings estimates for Parsley Energy in a research report issued to clients and investors on Tuesday. KeyCorp analyst C. Stevens now forecasts that the oil and natural gas company will earn $0.46 per share for the year, up from their previous forecast of $0.44. KeyCorp has a “Buy” rating and a $39.00 price target on the stock. KeyCorp also issued estimates for Parsley Energy’s Q1 2018 earnings at $0.13 EPS, Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.27 EPS and FY2018 earnings at $0.74 EPS.
Other equities analysts have also issued research reports about the company. Scotiabank reiterated a “buy” rating and issued a $38.00 target price on shares of Parsley Energy in a research note on Wednesday. Barclays PLC lifted their target price on Parsley Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday. J P Morgan Chase & Co cut their target price on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 15th. BMO Capital Markets set a $35.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $36.00 target price (down previously from $37.00) on shares of Parsley Energy in a research note on Sunday, November 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.23.
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Parsley Energy (NYSE PE) opened at $26.54 on Thursday. The company has a market capitalization of $8,340.00, a price-to-earnings ratio of 69.29 and a beta of -0.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $39.82.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The business had revenue of $241.02 million for the quarter, compared to analysts’ expectations of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The company’s revenue was up 81.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share.
Several hedge funds have recently modified their holdings of PE. Advisor Group Inc. grew its stake in shares of Parsley Energy by 23.9% during the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after acquiring an additional 781 shares during the last quarter. American International Group Inc. grew its stake in shares of Parsley Energy by 3.8% during the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after acquiring an additional 180 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Parsley Energy by 15.8% during the second quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock worth $183,000 after acquiring an additional 900 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of Parsley Energy by 14.1% during the first quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock worth $193,000 after acquiring an additional 735 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Parsley Energy during the third quarter worth about $196,000. Institutional investors and hedge funds own 78.70% of the company’s stock.
About Parsley Energy
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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