Parsley Energy, Inc. (PE) to Post FY2017 Earnings of $0.55 Per Share, Imperial Capital Forecasts
Parsley Energy, Inc. (NYSE:PE) – Research analysts at Imperial Capital upped their FY2017 earnings per share estimates for Parsley Energy in a note issued to investors on Thursday. Imperial Capital analyst I. Haas now forecasts that the oil and natural gas company will post earnings of $0.55 per share for the year, up from their previous estimate of $0.50. Imperial Capital currently has a “Outperform” rating and a $37.00 target price on the stock. Imperial Capital also issued estimates for Parsley Energy’s Q1 2018 earnings at $0.31 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $1.56 EPS.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The firm had revenue of $241.02 million during the quarter, compared to analysts’ expectations of $234.58 million. During the same quarter last year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was up 81.8% compared to the same quarter last year.
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Other equities research analysts have also recently issued research reports about the company. Citigroup Inc. set a $50.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Friday, July 21st. Bank of America Corporation initiated coverage on Parsley Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $37.00 price objective for the company. Williams Capital set a $39.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Thursday, August 3rd. Northland Securities set a $43.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Monday, August 21st. Finally, Seaport Global Securities upgraded Parsley Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $32.00 in a report on Friday, August 11th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.36.
Shares of Parsley Energy (PE) opened at $25.96 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy has a one year low of $22.98 and a one year high of $39.82. The company has a market capitalization of $8,210.00, a P/E ratio of 71.53, a price-to-earnings-growth ratio of 3.12 and a beta of -0.05.
A number of institutional investors have recently modified their holdings of the stock. American International Group Inc. lifted its holdings in 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 period. Atria Investments LLC raised its stake in shares of Parsley Energy by 3.2% in the second quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock valued at $281,000 after buying an additional 315 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in shares of Parsley Energy by 6.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock valued at $251,000 after buying an additional 565 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Parsley Energy by 14.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after buying an additional 735 shares during the period. Finally, Kennedy Capital Management Inc. raised its stake in shares of Parsley Energy by 0.8% in the second quarter. Kennedy Capital Management Inc. now owns 96,169 shares of the oil and natural gas company’s stock valued at $2,669,000 after buying an additional 738 shares during the period. Institutional investors and hedge funds own 78.49% of the company’s stock.
Parsley Energy Company Profile
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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