Parsley Energy Inc (NYSE:PE) – Investment analysts at KeyCorp dropped their Q3 2018 EPS estimates for shares of Parsley Energy in a research note issued to investors on Wednesday, August 8th. KeyCorp analyst D. Deckelbaum now expects that the oil and natural gas company will earn $0.50 per share for the quarter, down from their previous estimate of $0.55. KeyCorp also issued estimates for Parsley Energy’s FY2018 earnings at $1.78 EPS, Q1 2019 earnings at $0.63 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $0.85 EPS and FY2019 earnings at $2.90 EPS.

A number of other equities analysts have also recently weighed in on the company. Royal Bank of Canada set a $37.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Friday, April 13th. SunTrust Banks set a $38.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Monday, April 16th. Morgan Stanley increased their price target on Parsley Energy from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, May 24th. Jefferies Financial Group reiterated a “buy” rating and set a $38.00 price target on shares of Parsley Energy in a report on Thursday, April 26th. Finally, Zacks Investment Research upgraded Parsley Energy from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, May 31st. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $38.64.

NYSE PE opened at $29.96 on Friday. The firm has a market cap of $10.06 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 0.63 and a beta of -0.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.20 and a quick ratio of 1.20. Parsley Energy has a twelve month low of $21.12 and a twelve month high of $33.43.

Parsley Energy (NYSE:PE) last released its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $467.79 million for the quarter, compared to analysts’ expectations of $431.02 million. Parsley Energy had a return on equity of 5.30% and a net margin of 16.89%.

A number of hedge funds have recently bought and sold shares of the business. Redwood Investments LLC raised its position in Parsley Energy by 2.2% in the 2nd quarter. Redwood Investments LLC now owns 299,926 shares of the oil and natural gas company’s stock valued at $9,082,000 after purchasing an additional 6,406 shares in the last quarter. BlackRock Inc. raised its position in Parsley Energy by 18.7% in the 2nd quarter. BlackRock Inc. now owns 13,439,196 shares of the oil and natural gas company’s stock valued at $406,938,000 after purchasing an additional 2,112,853 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Parsley Energy by 11.6% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,950 shares of the oil and natural gas company’s stock valued at $877,000 after purchasing an additional 3,008 shares in the last quarter. Carillon Tower Advisers Inc. raised its position in Parsley Energy by 1.7% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 370,275 shares of the oil and natural gas company’s stock valued at $11,212,000 after purchasing an additional 6,100 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Parsley Energy in the 2nd quarter valued at about $1,285,000. 85.40% of the stock is currently owned by institutional investors.

In related news, insider Colin Roberts sold 10,000 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $31.59, for a total transaction of $315,900.00. Following the transaction, the insider now owns 244,204 shares of the company’s stock, valued at approximately $7,714,404.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 13.17% of the stock is currently owned by corporate insiders.

Parsley Energy Company Profile

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.

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

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