$489.00 Million in Sales Expected for Parsley Energy Inc (PE) This Quarter

Equities research analysts predict that Parsley Energy Inc (NYSE:PE) will report $489.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Parsley Energy’s earnings. The highest sales estimate is $558.00 million and the lowest is $450.00 million. Parsley Energy posted sales of $311.49 million during the same quarter last year, which suggests a positive year-over-year growth rate of 57%. The firm is expected to announce its next earnings report after the market closes on Thursday, February 21st.

On average, analysts expect that Parsley Energy will report full year sales of $1.85 billion for the current fiscal year, with estimates ranging from $1.78 billion to $1.93 billion. For the next year, analysts forecast that the business will report sales of $1.98 billion, with estimates ranging from $1.72 billion to $2.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Parsley Energy.

Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. Parsley Energy had a return on equity of 6.77% and a net margin of 21.70%. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $493.44 million. During the same quarter last year, the business posted $0.12 earnings per share. The firm’s revenue was up 112.0% compared to the same quarter last year.

A number of research analysts recently commented on PE shares. Wolfe Research cut Parsley Energy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 17th. Zacks Investment Research raised Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, October 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $57.00 target price on shares of Parsley Energy in a research note on Wednesday, October 24th. Piper Jaffray Companies set a $46.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Finally, Wells Fargo & Co started coverage on Parsley Energy in a research note on Wednesday, October 24th. They issued an “outperform” rating and a $47.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $33.00.

PE opened at $18.10 on Friday. The firm has a market capitalization of $5.85 billion, a P/E ratio of 26.23, a PEG ratio of 0.47 and a beta of 0.23. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.35. Parsley Energy has a 52 week low of $14.17 and a 52 week high of $33.43.

In related news, Director A R. Alameddine acquired 5,000 shares of Parsley Energy stock in a transaction dated Tuesday, November 27th. The shares were purchased at an average cost of $21.10 per share, with a total value of $105,500.00. Following the completion of the purchase, the director now owns 122,643 shares of the company’s stock, valued at $2,587,767.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 7,000 shares of company stock worth $145,490 over the last ninety days. Insiders own 13.17% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PE. Tributary Capital Management LLC bought a new stake in shares of Parsley Energy in the fourth quarter worth about $37,000. Wealthstreet Investment Advisors LLC bought a new stake in shares of Parsley Energy in the fourth quarter worth about $189,000. Brasada Capital Management LP bought a new stake in shares of Parsley Energy in the third quarter worth about $219,000. IFM Investors Pty Ltd grew its stake in shares of Parsley Energy by 10.7% in the fourth quarter. IFM Investors Pty Ltd now owns 15,454 shares of the oil and natural gas company’s stock worth $247,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Cerebellum GP LLC grew its stake in shares of Parsley Energy by 154.6% in the fourth quarter. Cerebellum GP LLC now owns 15,980 shares of the oil and natural gas company’s stock worth $255,000 after purchasing an additional 9,704 shares during the last quarter. 83.68% of the stock is currently owned by institutional investors.

About Parsley Energy

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.

Further Reading: Short Selling Stocks and Day Traders

Get a free copy of the Zacks research report on Parsley Energy (PE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Parsley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply