Parsley Energy Inc. Expected to Post Q3 2016 Earnings of ($0.01) Per Share (PE)
Parsley Energy Inc. (NYSE:PE) – Stock analysts at Williams Capital issued their Q3 2016 EPS estimates for shares of Parsley Energy in a research note issued to investors on Monday. Williams Capital analyst G. Sorbara anticipates that the brokerage will earn ($0.01) per share for the quarter. Williams Capital currently has a “Hold” rating and a $37.00 target price on the stock. Williams Capital also issued estimates for Parsley Energy’s FY2017 earnings at $0.60 EPS and FY2018 earnings at $1.52 EPS.
Several other equities analysts also recently weighed in on the company. Macquarie downgraded Parsley Energy from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $36.00 to $38.00 in a research report on Wednesday, October 12th. Zacks Investment Research raised Parsley Energy from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Wednesday, October 12th. Nomura reissued a “buy” rating and set a $17.00 price target on shares of Parsley Energy in a research report on Monday, September 26th. FBR & Co began coverage on Parsley Energy in a report on Tuesday, September 13th. They set an “outperform” rating and a $41.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on Parsley Energy to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, August 30th. Six analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Parsley Energy currently has a consensus rating of “Buy” and an average price target of $31.79.
Shares of Parsley Energy (NYSE:PE) opened at 36.14 on Tuesday. Parsley Energy has a one year low of $14.51 and a one year high of $37.04. The stock’s market cap is $6.19 billion. The firm’s 50-day moving average price is $34.00 and its 200 day moving average price is $28.75.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. The firm earned $106.30 million during the quarter, compared to analysts’ expectations of $92.04 million. Parsley Energy had a negative net margin of 18.26% and a negative return on equity of 0.66%. Parsley Energy’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS.
In other news, insider Mike Hinson sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $35.13, for a total transaction of $878,250.00. Following the completion of the transaction, the insider now directly owns 536,153 shares of the company’s stock, valued at $18,835,054.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bryan Sheffield sold 1,100,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $32.15, for a total value of $35,365,000.00. Following the transaction, the insider now directly owns 13,169,935 shares of the company’s stock, valued at $423,413,410.25. The disclosure for this sale can be found here. Insiders own 24.17% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Virginia Retirement System bought a new position in Parsley Energy during the first quarter valued at approximately $386,000. BlackRock Inc. raised its position in Parsley Energy by 134.5% in the first quarter. BlackRock Inc. now owns 6,650 shares of the company’s stock valued at $151,000 after buying an additional 3,814 shares during the period. BlackRock Group LTD raised its position in Parsley Energy by 52.9% in the first quarter. BlackRock Group LTD now owns 94,497 shares of the company’s stock valued at $2,136,000 after buying an additional 32,712 shares during the period. BlackRock Fund Advisors raised its position in Parsley Energy by 3.4% in the first quarter. BlackRock Fund Advisors now owns 2,550,901 shares of the company’s stock valued at $57,650,000 after buying an additional 83,483 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in Parsley Energy by 18.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,720,501 shares of the company’s stock valued at $61,483,000 after buying an additional 425,385 shares during the period. 84.51% of the stock is owned by institutional investors.
About Parsley Energy
Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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