Parsley Energy, Inc. (NYSE:PE) – Equities researchers at SunTrust Banks lifted their FY2017 EPS estimates for shares of Parsley Energy in a research note issued on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will earn $0.49 per share for the year, up from their prior forecast of $0.45. SunTrust Banks also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.16 EPS and FY2020 earnings at $2.27 EPS.

Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $241.02 million during the quarter, compared to the consensus estimate of $234.58 million. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The business’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share.

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Several other brokerages also recently weighed in on PE. Bank of America Corporation began coverage on shares of Parsley Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $37.00 target price for the company. Barclays PLC set a $32.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Citigroup Inc. cut their price target on shares of Parsley Energy from $51.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, October 13th. Finally, Williams Capital set a $39.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $40.36.

Parsley Energy (NYSE:PE) opened at $25.96 on Monday. The firm has a market cap of $8,210.00, a price-to-earnings ratio of 71.53, a PEG ratio of 3.12 and a beta of -0.05. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $39.82.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. grew its position in shares of Parsley Energy by 23.9% during the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after acquiring an additional 781 shares during the last quarter. American International Group Inc. grew its position in shares of 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 worth $158,000 after acquiring an additional 180 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Parsley Energy by 14.1% during the first quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock worth $193,000 after acquiring an additional 735 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Parsley Energy by 15.8% during the second quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock worth $183,000 after acquiring an additional 900 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Parsley Energy during the third quarter worth about $196,000. Institutional investors and hedge funds own 78.49% 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.

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

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