$258.20 Million in Sales Expected for Parsley Energy, Inc. (PE) This Quarter
Equities analysts expect Parsley Energy, Inc. (NYSE:PE) to post $258.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Parsley Energy’s earnings, with the highest sales estimate coming in at $288.41 million and the lowest estimate coming in at $237.50 million. Parsley Energy posted sales of $132.67 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 94.6%. The business is scheduled to report its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Parsley Energy will report full year sales of $258.20 million for the current financial year, with estimates ranging from $926.34 million to $1.09 billion. For the next financial year, analysts expect that the company will post sales of $1.60 billion per share, with estimates ranging from $1.19 billion to $1.96 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Parsley Energy.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.06. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The company had revenue of $213.68 million during the quarter, compared to the consensus estimate of $216.54 million. During the same quarter in the previous year, the firm posted $0.04 EPS. The business’s revenue for the quarter was up 99.9% compared to the same quarter last year.
Several research analysts have recently commented on PE shares. Citigroup Inc. set a $50.00 price target on Parsley Energy and gave the stock a “buy” rating in a research report on Friday, July 21st. Williams Capital raised Parsley Energy from a “hold” rating to a “buy” rating and reduced their price target for the stock from $39.00 to $37.00 in a research report on Monday, June 12th. Barclays PLC reissued an “overweight” rating and issued a $37.00 price target (down from $41.00) on shares of Parsley Energy in a research report on Saturday, April 22nd. Zacks Investment Research lowered Parsley Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 15th. Finally, FBR & Co reissued a “buy” rating on shares of Parsley Energy in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $40.69.
Shares of Parsley Energy (NYSE PE) traded down 0.51% during mid-day trading on Friday, reaching $25.35. The company’s stock had a trading volume of 2,807,585 shares. The company has a market cap of $6.28 billion, a PE ratio of 141.62 and a beta of -0.09. Parsley Energy has a 52-week low of $24.68 and a 52-week high of $39.82. The company has a 50-day moving average price of $27.59 and a 200 day moving average price of $30.15.
In other news, Director A R. Alameddine purchased 3,500 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were acquired at an average price of $31.65 per share, for a total transaction of $110,775.00. Following the purchase, the director now owns 94,888 shares in the company, valued at $3,003,205.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Colin Roberts sold 3,400 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $30.00, for a total value of $102,000.00. Following the sale, the insider now owns 229,326 shares in the company, valued at approximately $6,879,780. The disclosure for this sale can be found here. 15.51% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Third Point LLC increased its stake in Parsley Energy by 80.0% in the second quarter. Third Point LLC now owns 4,500,000 shares of the oil and natural gas company’s stock valued at $124,875,000 after buying an additional 2,000,000 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Parsley Energy by 60.5% in the second quarter. Parametric Portfolio Associates LLC now owns 280,629 shares of the oil and natural gas company’s stock worth $7,787,000 after buying an additional 105,735 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Parsley Energy by 23.9% in the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after buying an additional 781 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Parsley Energy by 0.4% in the second quarter. California Public Employees Retirement System now owns 436,700 shares of the oil and natural gas company’s stock worth $12,118,000 after buying an additional 1,700 shares during the last quarter. Finally, Apollo Management Holdings L.P. bought a new stake in shares of Parsley Energy during the second quarter worth approximately $414,418,000. Institutional investors and hedge funds own 91.14% of the company’s stock.
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Parsley Energy Company Profile
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.
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