Parsley Energy (NYSE:PE) Issues Earnings Results

Parsley Energy (NYSE:PE) posted its earnings results on Tuesday. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01, Bloomberg Earnings reports. The firm had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $467.53 million. Parsley Energy had a net margin of 14.09% and a return on equity of 6.05%. The company’s revenue was down 57.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share.

Shares of PE stock opened at $14.13 on Wednesday. Parsley Energy has a 1 year low of $13.72 and a 1 year high of $32.00. The business’s fifty day moving average is $17.30. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 0.30 and a beta of 0.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.43 and a quick ratio of 0.43.

A number of research firms have issued reports on PE. KeyCorp lifted their target price on shares of Parsley Energy from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. ValuEngine cut shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 12th. Robert W. Baird set a $22.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research note on Thursday, June 27th. Wolfe Research upgraded shares of Parsley Energy from a “peer perform” rating to an “outperform” rating in a research note on Thursday, April 18th. Finally, Evercore ISI upgraded shares of Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 price objective for the company in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $30.31.

In related news, insider Bryan Sheffield sold 100,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $20.24, for a total transaction of $2,024,000.00. Following the transaction, the insider now owns 8,801,632 shares of the company’s stock, valued at $178,145,031.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerry Windlinger bought 1,985 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average cost of $17.50 per share, for a total transaction of $34,737.50. Following the transaction, the director now directly owns 33,382 shares of the company’s stock, valued at approximately $584,185. The disclosure for this purchase can be found here. Insiders own 12.14% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new stake in Parsley Energy in the 1st quarter valued at $37,000. Quadrant Capital Group LLC increased its holdings in Parsley Energy by 462.5% in the 1st quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock valued at $71,000 after buying an additional 3,136 shares during the period. Nisa Investment Advisors LLC bought a new stake in Parsley Energy in the 2nd quarter valued at $76,000. Machina Capital S.A.S. acquired a new stake in shares of Parsley Energy in the 2nd quarter valued at $86,000. Finally, Advisor Group Inc. boosted its stake in shares of Parsley Energy by 15.0% in 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 purchasing an additional 719 shares in the last quarter. 82.60% 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, 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 for Parsley Energy (NYSE:PE)

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