Q3 2017 EPS Estimates for Parsley Energy, Inc. Reduced by SunTrust Banks (PE)
Parsley Energy, Inc. (NYSE:PE) – Equities researchers at SunTrust Banks lowered their Q3 2017 EPS estimates for Parsley Energy in a research note issued to investors on Sunday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings per share of $0.10 for the quarter, down from their previous estimate of $0.15. SunTrust Banks also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.15 EPS, FY2017 earnings at $0.45 EPS, FY2018 earnings at $1.10 EPS, FY2019 earnings at $1.87 EPS and FY2020 earnings at $2.65 EPS.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The company had revenue of $241.02 million during the quarter, compared to analysts’ expectations of $234.58 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s quarterly revenue was up 81.8% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This piece of content was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/11/08/q3-2017-eps-estimates-for-parsley-energy-inc-reduced-by-suntrust-banks-pe.html.
A number of other analysts have also recently weighed in on the company. Citigroup Inc. set a $50.00 price target on Parsley Energy and gave the stock a “buy” rating in a research report on Friday, July 21st. Zacks Investment Research cut Parsley Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 price target on shares of Parsley Energy in a research report on Sunday, September 3rd. Bank of America Corporation started coverage on Parsley Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $37.00 price target for the company. Finally, BidaskClub raised Parsley Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating and twenty-three have issued a buy rating to the company’s stock. Parsley Energy currently has an average rating of “Buy” and a consensus target price of $40.86.
Shares of Parsley Energy (PE) opened at $28.40 on Tuesday. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $39.82. The firm has a market capitalization of $8,880.00, a PE ratio of 94.93 and a beta of -0.05. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Asset Management Company LTD increased its stake in Parsley Energy by 15.0% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 65,985 shares of the oil and natural gas company’s stock valued at $1,738,000 after acquiring an additional 8,593 shares during the period. Pacer Advisors Inc. increased its stake in Parsley Energy by 15.8% during the second quarter. Pacer Advisors Inc. now owns 40,202 shares of the oil and natural gas company’s stock valued at $1,116,000 after acquiring an additional 5,492 shares during the period. Motco bought a new position in Parsley Energy during the second quarter valued at about $278,000. JPMorgan Chase & Co. increased its stake in Parsley Energy by 263.3% during the second 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 acquiring an additional 1,692,425 shares during the period. Finally, Addison Capital Co increased its stake in Parsley Energy by 7.9% during the second quarter. Addison Capital Co now owns 15,278 shares of the oil and natural gas company’s stock valued at $424,000 after acquiring an additional 1,114 shares during the period. Hedge funds and other institutional investors own 77.65% 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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