KeyCorp Equities Analysts Decrease Earnings Estimates for Parsley Energy Inc (PE)

Parsley Energy Inc (NYSE:PE) – Equities researchers at KeyCorp decreased their Q1 2019 EPS estimates for shares of Parsley Energy in a research report issued to clients and investors on Sunday, April 21st. KeyCorp analyst L. Mariani now anticipates that the oil and natural gas company will earn $0.15 per share for the quarter, down from their prior estimate of $0.22. KeyCorp has a “Overweight” rating and a $23.00 price objective on the stock. KeyCorp also issued estimates for Parsley Energy’s Q4 2019 earnings at $0.33 EPS and FY2019 earnings at $0.99 EPS.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Thursday, February 21st. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.04). Parsley Energy had a net margin of 20.21% and a return on equity of 6.43%. The company had revenue of $454.90 million for the quarter, compared to the consensus estimate of $456.66 million. During the same period last year, the business posted $0.30 earnings per share. The firm’s quarterly revenue was up 46.0% compared to the same quarter last year.

Other research analysts have also recently issued reports about the company. Stephens raised Parsley Energy from an “equal” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research note on Tuesday, January 29th. Zacks Investment Research raised Parsley Energy from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Monday, April 8th. Northland Securities reaffirmed a “buy” rating and set a $29.00 price objective on shares of Parsley Energy in a research note on Friday, February 22nd. Robert W. Baird set a $24.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Friday, February 22nd. Finally, Wolfe Research raised Parsley Energy from a “peer perform” rating to an “outperform” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $31.68.

Shares of NYSE:PE opened at $21.51 on Wednesday. Parsley Energy has a 12-month low of $14.17 and a 12-month high of $33.43. The stock has a market cap of $6.86 billion, a PE ratio of 15.26, a P/E/G ratio of 0.40 and a beta of 0.40. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35.

In related news, insider Colin Roberts sold 3,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was 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 $5,438,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mike Hinson sold 41,727 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $18.43, for a total value 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 48,227 shares of company stock worth $894,584 over the last three months. 13.17% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Tributary Capital Management LLC bought a new stake in Parsley Energy during the 4th quarter valued at approximately $37,000. Advisor Group Inc. boosted its position in Parsley Energy by 15.0% during the 4th quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock valued at $88,000 after acquiring an additional 719 shares in the last quarter. Penserra Capital Management LLC boosted its position in Parsley Energy by 153.8% during the 4th quarter. Penserra Capital Management LLC now owns 7,488 shares of the oil and natural gas company’s stock valued at $118,000 after acquiring an additional 4,538 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Parsley Energy by 7.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,250 shares of the oil and natural gas company’s stock valued at $132,000 after acquiring an additional 600 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Parsley Energy by 64.6% during 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. 85.20% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Story: Technical Analysis

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.