Parsley Energy, Inc. to Post Q2 2017 Earnings of $0.13 Per Share, Williams Capital Forecasts (PE)

Parsley Energy, Inc. (NYSE:PE) – Equities research analysts at Williams Capital lowered their Q2 2017 earnings per share (EPS) estimates for Parsley Energy in a research note issued to investors on Tuesday. Williams Capital analyst G. Sorbara now anticipates that the oil and natural gas company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.15. Williams Capital has a “Buy” rating and a $37.00 price target on the stock. Williams Capital also issued estimates for Parsley Energy’s FY2017 earnings at $0.81 EPS, FY2018 earnings at $1.78 EPS and FY2019 earnings at $2.97 EPS.

Parsley Energy (NYSE:PE) last announced its earnings results on Thursday, May 4th. The oil and natural gas company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The firm had revenue of $200.90 million for the quarter, compared to the consensus estimate of $181.23 million. Parsley Energy had a positive return on equity of 2.04% and a negative net margin of 4.26%. The business’s quarterly revenue was up 222.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) EPS.

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A number of other research firms have also weighed in on PE. Citigroup Inc. initiated coverage on shares of Parsley Energy in a report on Wednesday, March 22nd. They set a “buy” rating and a $40.00 target price for the company. Northland Securities set a $43.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets set a $40.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a report on Thursday, May 4th. UBS AG reiterated a “buy” rating and set a $44.00 target price (up from $42.00) on shares of Parsley Energy in a report on Friday, May 5th. Finally, Seaport Global Securities lowered shares of Parsley Energy from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a report on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $40.42.

Parsley Energy (NYSE PE) opened at 28.13 on Wednesday. The firm’s market capitalization is $6.93 billion. The firm’s 50-day moving average price is $27.85 and its 200 day moving average price is $31.13. Parsley Energy has a one year low of $25.17 and a one year high of $39.82.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Parsley Energy by 6,471.4% in the first quarter. BlackRock Inc. now owns 11,215,157 shares of the oil and natural gas company’s stock worth $364,606,000 after buying an additional 11,044,492 shares during the last quarter. Vanguard Group Inc. raised its stake in Parsley Energy by 47.3% in the first quarter. Vanguard Group Inc. now owns 18,418,741 shares of the oil and natural gas company’s stock worth $598,793,000 after buying an additional 5,913,072 shares during the last quarter. State Street Corp raised its stake in Parsley Energy by 45.0% in the first quarter. State Street Corp now owns 5,834,217 shares of the oil and natural gas company’s stock worth $189,683,000 after buying an additional 1,809,520 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Parsley Energy by 617.4% in the first quarter. UBS Asset Management Americas Inc. now owns 2,095,420 shares of the oil and natural gas company’s stock worth $68,122,000 after buying an additional 1,803,342 shares during the last quarter. Finally, FMR LLC raised its stake in Parsley Energy by 29.7% in the first quarter. FMR LLC now owns 7,198,268 shares of the oil and natural gas company’s stock worth $234,016,000 after buying an additional 1,649,919 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

In other Parsley Energy news, insider Colin Roberts sold 3,400 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $30.00, for a total value of $102,000.00. Following the completion of the transaction, the insider now owns 229,326 shares of the company’s stock, valued at $6,879,780. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ryan Dalton sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $32.56, for a total transaction of $976,800.00. Following the completion of the transaction, the insider now directly owns 329,957 shares of the company’s stock, valued at approximately $10,743,399.92. The disclosure for this sale can be found here. Insiders have sold 1,723,900 shares of company stock valued at $54,188,730 in the last three months. 15.51% of the stock is currently owned by corporate insiders.

About Parsley Energy

Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

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

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