US Capital Advisors Comments on Parsley Energy, Inc.’s FY2017 Earnings (PE)
Parsley Energy, Inc. (NYSE:PE) – Analysts at US Capital Advisors issued their FY2017 earnings per share (EPS) estimates for shares of Parsley Energy in a research note issued on Monday. US Capital Advisors analyst C. Horwitz expects that the oil and natural gas company will post earnings of $0.55 per share for the year. US Capital Advisors has a “Overweight” rating on the stock. US Capital Advisors also issued estimates for Parsley Energy’s FY2018 earnings at $1.41 EPS, FY2019 earnings at $2.06 EPS, FY2020 earnings at $2.72 EPS and FY2021 earnings at $3.50 EPS.
Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Northland Securities set a $43.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Monday, August 21st. J P Morgan Chase & Co cut their target price on shares of Parsley Energy from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 26th. Barclays PLC cut their target price on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. Finally, Seaport Global Securities upgraded shares of Parsley Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $32.00 in a research report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $41.18.
Parsley Energy (NYSE:PE) opened at 27.03 on Thursday. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $39.82. The company has a market cap of $6.69 billion, a P/E ratio of 151.01 and a beta of -0.05. The stock’s 50 day moving average is $25.49 and its 200 day moving average is $28.26.
Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The firm had revenue of $213.68 million for the quarter, compared to analyst estimates of $216.54 million. During the same period in the prior year, the firm earned $0.04 EPS. The firm’s revenue was up 99.9% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in shares of Parsley Energy by 15.8% during the 2nd quarter. Pacer Advisors Inc. now owns 40,202 shares of the oil and natural gas company’s stock worth $1,116,000 after acquiring an additional 5,492 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Parsley Energy by 263.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,335,311 shares of the oil and natural gas company’s stock valued at $64,805,000 after purchasing an additional 1,692,425 shares during the last quarter. Addison Capital Co increased its position in shares of Parsley Energy by 7.9% during the 2nd quarter. Addison Capital Co now owns 15,278 shares of the oil and natural gas company’s stock valued at $424,000 after purchasing an additional 1,114 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Parsley Energy by 5.5% during the 1st quarter. Prudential Financial Inc. now owns 10,970 shares of the oil and natural gas company’s stock valued at $357,000 after purchasing an additional 570 shares during the last quarter. Finally, Motco bought a new position in shares of Parsley Energy during the 2nd quarter valued at approximately $278,000. 77.94% of the stock is currently owned by institutional investors.
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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