Parsley Energy, Inc. to Post FY2017 Earnings of $0.55 Per Share, Imperial Capital Forecasts (PE)
Parsley Energy, Inc. (NYSE:PE) – Equities research analysts at Imperial Capital raised their FY2017 earnings estimates for shares of Parsley Energy in a report released on Thursday. Imperial Capital analyst I. Haas now forecasts that the oil and natural gas company will post earnings of $0.55 per share for the year, up from their previous forecast of $0.50. Imperial Capital has a “Outperform” rating and a $37.00 price objective on the stock. Imperial Capital also issued estimates for Parsley Energy’s Q1 2018 earnings at $0.31 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $1.56 EPS.
Several other analysts have also recently commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $36.00 target price (down previously from $37.00) on shares of Parsley Energy in a research report on Sunday. Northland Securities reiterated a “buy” rating and set a $40.00 target price on shares of Parsley Energy in a research report on Friday. Zacks Investment Research upgraded shares of Parsley Energy from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Piper Jaffray Companies set a $34.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Monday, October 23rd. Finally, Williams Capital decreased their price target on shares of Parsley Energy from $36.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have issued a buy rating to the company. Parsley Energy presently has a consensus rating of “Buy” and an average price target of $40.36.
Shares of Parsley Energy (NYSE PE) opened at $26.77 on Monday. The company has a market cap of $8,545.34, a price-to-earnings ratio of 71.53, a price-to-earnings-growth ratio of 3.12 and a beta of -0.05. Parsley Energy has a 1 year low of $22.98 and a 1 year high of $39.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.
Parsley Energy (NYSE:PE) last issued its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $241.02 million during the quarter, compared to analysts’ expectations of $234.58 million. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The business’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in PE. Advisor Group Inc. lifted its position in Parsley Energy by 23.9% during the 2nd 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 in the last quarter. American International Group Inc. lifted its position in Parsley Energy by 3.8% during the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after buying an additional 180 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Parsley Energy by 15.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock worth $183,000 after buying an additional 900 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Parsley Energy by 14.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock worth $193,000 after buying an additional 735 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Parsley Energy during the 3rd quarter worth about $196,000. 78.49% of the stock is owned by hedge funds and other institutional investors.
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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