Analysts Anticipate Parsley Energy Inc (PE) to Post $0.37 EPS

Equities analysts expect Parsley Energy Inc (NYSE:PE) to report earnings per share (EPS) of $0.37 for the current quarter, Zacks reports. Twelve analysts have made estimates for Parsley Energy’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.56. Parsley Energy reported earnings of $0.39 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.1%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, August 6th.

On average, analysts expect that Parsley Energy will report full-year earnings of $1.62 per share for the current fiscal year, with EPS estimates ranging from $1.11 to $2.79. For the next fiscal year, analysts forecast that the company will report earnings of $2.27 per share, with EPS estimates ranging from $1.08 to $5.53. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Parsley Energy.

Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The company had revenue of $427.67 million for the quarter, compared to analyst estimates of $410.04 million. Parsley Energy had a net margin of 14.09% and a return on equity of 6.05%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS.

PE has been the topic of several recent research reports. Wolfe Research raised shares of Parsley Energy from a “peer perform” rating to an “outperform” rating in a research note on Thursday, April 18th. Jefferies Financial Group lowered their price objective on shares of Parsley Energy from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Williams Capital reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Parsley Energy in a research note on Thursday, May 2nd. Zacks Investment Research raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, Stifel Nicolaus set a $55.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.87.

Parsley Energy stock opened at $18.25 on Friday. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 0.36 and a beta of 0.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.43 and a current ratio of 0.43. Parsley Energy has a 52 week low of $14.17 and a 52 week high of $33.25.

In related news, insider Colin Roberts sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total transaction of $65,555.00. Following the completion of the sale, the insider now directly owns 274,926 shares in the company, valued at $5,149,363.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mike Hinson sold 41,727 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $18.43, for a total transaction of $769,028.61. Following the sale, the insider now owns 398,275 shares of the company’s stock, valued at $7,340,208.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,227 shares of company stock valued at $2,918,584. Corporate insiders own 12.14% of the company’s stock.

Several hedge funds have recently bought and sold shares of PE. Key Group Holdings Cayman LTD. boosted its holdings in shares of Parsley Energy by 298.7% during the first quarter. Key Group Holdings Cayman LTD. now owns 6,092,725 shares of the oil and natural gas company’s stock worth $117,590,000 after purchasing an additional 4,564,713 shares during the period. Deutsche Bank AG boosted its holdings in shares of Parsley Energy by 795.5% during the fourth quarter. Deutsche Bank AG now owns 2,846,929 shares of the oil and natural gas company’s stock worth $45,491,000 after purchasing an additional 2,529,006 shares during the period. Norges Bank acquired a new stake in shares of Parsley Energy during the fourth quarter worth approximately $34,928,000. Zimmer Partners LP boosted its holdings in shares of Parsley Energy by 320.0% during the fourth quarter. Zimmer Partners LP now owns 2,100,000 shares of the oil and natural gas company’s stock worth $33,558,000 after purchasing an additional 1,600,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Parsley Energy by 48.2% during the first quarter. Dimensional Fund Advisors LP now owns 4,608,051 shares of the oil and natural gas company’s stock worth $88,931,000 after purchasing an additional 1,499,698 shares during the period. Institutional investors and hedge funds own 86.17% of the company’s stock.

Parsley Energy Company Profile

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.

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

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