Parsley Energy Inc (NYSE:PE) – Equities researchers at US Capital Advisors upped their Q2 2019 earnings per share estimates for shares of Parsley Energy in a research report issued on Wednesday, March 27th, Zacks Investment Research reports. US Capital Advisors analyst C. Horwitz now forecasts that the oil and natural gas company will earn $0.43 per share for the quarter, up from their prior estimate of $0.32. US Capital Advisors also issued estimates for Parsley Energy’s Q3 2019 earnings at $0.49 EPS, Q4 2019 earnings at $0.53 EPS, Q1 2020 earnings at $0.63 EPS, Q2 2020 earnings at $0.63 EPS, Q3 2020 earnings at $0.65 EPS and Q4 2020 earnings at $0.65 EPS.
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Parsley Energy from a “buy” rating to a “hold” rating in a report on Thursday. Wolfe Research raised shares of Parsley Energy from a “peer perform” rating to an “outperform” rating in a report on Thursday. ValuEngine raised shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a report on Thursday. Goldman Sachs Group lowered shares of Parsley Energy to a “buy” rating in a report on Friday, April 12th. Finally, Barclays reaffirmed a “buy” rating and set a $34.00 target price on shares of Parsley Energy in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.68.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Thursday, February 21st. The oil and natural gas company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The company had revenue of $454.90 million during the quarter, compared to analyst estimates of $456.66 million. Parsley Energy had a net margin of 20.21% and a return on equity of 6.43%. The business’s revenue for the quarter was up 46.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS.
In related news, insider Colin Roberts sold 3,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $20.00, for a total value of $60,000.00. Following the sale, the insider now directly owns 271,926 shares of the company’s stock, valued at approximately $5,438,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mike Hinson sold 41,727 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $18.43, for a total transaction of $769,028.61. Following the completion of the sale, the insider now directly owns 398,275 shares in the company, valued at $7,340,208.25. The disclosure for this sale can be found here. Insiders sold a total of 48,227 shares of company stock valued at $894,584 in the last three months. 13.17% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nippon Life Global Investors Americas Inc. lifted its position in Parsley Energy by 24.5% in the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 302,050 shares of the oil and natural gas company’s stock valued at $4,827,000 after acquiring an additional 59,360 shares in the last quarter. Credit Suisse AG lifted its position in Parsley Energy by 42.2% in the 3rd quarter. Credit Suisse AG now owns 502,991 shares of the oil and natural gas company’s stock valued at $14,713,000 after acquiring an additional 149,203 shares in the last quarter. Bain Capital Credit LP bought a new stake in Parsley Energy in the 4th quarter valued at $2,016,000. Nordea Investment Management AB lifted its position in Parsley Energy by 64.6% in the 3rd quarter. Nordea Investment Management AB now owns 9,540 shares of the oil and natural gas company’s stock valued at $279,000 after acquiring an additional 3,745 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Parsley Energy by 57.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,039,718 shares of the oil and natural gas company’s stock valued at $59,661,000 after acquiring an additional 747,541 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.
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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