Brokers Issue Forecasts for Parsley Energy, Inc.’s FY2017 Earnings (PE)
Parsley Energy, Inc. (NYSE:PE) – KeyCorp dropped their FY2017 earnings estimates for shares of Parsley Energy in a report released on Wednesday. KeyCorp analyst C. Stevens now expects that the oil and natural gas company will post earnings of $0.40 per share for the year, down from their previous estimate of $0.43. KeyCorp currently has a “Buy” rating and a $39.00 price target on the stock. KeyCorp also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.12 EPS, Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.30 EPS and FY2018 earnings at $0.86 EPS.
Several other brokerages also recently issued reports on PE. BidaskClub downgraded shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Seaport Global Securities downgraded shares of Parsley Energy from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research note on Monday, July 17th. Northland Securities set a $43.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research note on Monday, July 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $39.00 price target on shares of Parsley Energy in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating and twenty-three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $40.73.
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Shares of Parsley Energy (NYSE PE) opened at 26.11 on Friday. The stock has a 50 day moving average price of $26.02 and a 200-day moving average price of $27.93. The stock has a market cap of $6.47 billion, a P/E ratio of 145.87 and a beta of -0.05. Parsley Energy has a 12 month low of $22.98 and a 12 month high of $39.82.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). The business had revenue of $213.68 million during the quarter, compared to analysts’ expectations of $216.54 million. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. Parsley Energy’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS.
A number of large investors have recently modified their holdings of the stock. Spot Trading L.L.C. bought a new stake in Parsley Energy during the first quarter valued at about $565,000. Comerica Bank boosted its holdings in Parsley Energy by 29.7% during the first quarter. Comerica Bank now owns 21,689 shares of the oil and natural gas company’s stock valued at $640,000 after acquiring an additional 4,972 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Parsley Energy by 6.8% during the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after acquiring an additional 300 shares during the period. Prudential Financial Inc. boosted its holdings in Parsley Energy by 5.5% during the first quarter. Prudential Financial Inc. now owns 10,970 shares of the oil and natural gas company’s stock valued at $357,000 after acquiring an additional 570 shares during the period. Finally, American International Group Inc. boosted its holdings in Parsley Energy by 3.8% during the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 77.94% of the company’s stock.
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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