Parsley Energy Inc. (NYSE:PE) – KeyCorp lifted their Q1 2017 earnings per share (EPS) estimates for shares of Parsley Energy in a research note issued to investors on Tuesday. KeyCorp analyst C. Stevens now forecasts that the firm will post earnings per share of $0.08 for the quarter, up from their previous forecast of $0.07. KeyCorp currently has a “Overweight” rating and a $44.00 target price on the stock. KeyCorp also issued estimates for Parsley Energy’s FY2017 earnings at $0.58 EPS, Q1 2018 earnings at $0.32 EPS, Q2 2018 earnings at $0.42 EPS and FY2018 earnings at $1.88 EPS.

Other analysts have also issued research reports about the stock. Stifel Nicolaus upped their target price on shares of Parsley Energy from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. Wunderlich upped their target price on shares of Parsley Energy from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Wednesday, August 3rd. Nomura upped their target price on shares of Parsley Energy from $31.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Finally, Williams Capital started coverage on shares of Parsley Energy in a report on Monday, August 29th. They set a “hold” rating and a $37.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.25.

Earnings History and Estimates for Parsley Energy (NYSE:PE)

Parsley Energy (NYSE:PE) opened at 35.92 on Wednesday. The company’s market cap is $6.45 billion. Parsley Energy has a 1-year low of $14.51 and a 1-year high of $37.20. The stock’s 50 day moving average is $35.03 and its 200 day moving average is $30.86.

Parsley Energy (NYSE:PE) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The firm earned $132.67 million during the quarter, compared to the consensus estimate of $82.30 million. Parsley Energy had a negative net margin of 15.86% and a positive return on equity of 0.24%. The company’s revenue for the quarter was up 106.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) earnings per share.

In related news, insider Mike Hinson sold 25,000 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $33.65, for a total transaction of $841,250.00. Following the sale, the insider now directly owns 546,653 shares of the company’s stock, valued at approximately $18,394,873.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A R. Alameddine acquired 8,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were purchased at an average cost of $34.75 per share, for a total transaction of $278,000.00. Following the completion of the transaction, the director now directly owns 89,488 shares in the company, valued at approximately $3,109,708. The disclosure for this purchase can be found here. 24.17% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in PE. Boston Partners increased its stake in shares of Parsley Energy by 2.4% in the third quarter. Boston Partners now owns 17,045,436 shares of the company’s stock valued at $571,193,000 after buying an additional 395,364 shares during the period. Vanguard Group Inc. increased its stake in shares of Parsley Energy by 37.3% in the second quarter. Vanguard Group Inc. now owns 10,665,055 shares of the company’s stock valued at $288,596,000 after buying an additional 2,895,325 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Parsley Energy by 7.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,982,455 shares of the company’s stock valued at $233,982,000 after buying an additional 485,543 shares during the period. Van ECK Associates Corp increased its stake in shares of Parsley Energy by 1.9% in the second quarter. Van ECK Associates Corp now owns 6,493,563 shares of the company’s stock valued at $175,716,000 after buying an additional 119,663 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Parsley Energy by 15.7% in the third quarter. TIAA CREF Investment Management LLC now owns 6,347,741 shares of the company’s stock valued at $212,713,000 after buying an additional 862,042 shares during the period. 85.44% of the stock is currently owned by institutional investors.

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About Parsley Energy

Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

5 Day Chart for NYSE:PE

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