Parsley Energy, Inc. (NYSE:PE) – Investment analysts at Seaport Global Securities upped their FY2017 earnings per share (EPS) estimates for shares of Parsley Energy in a report issued on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will earn $0.52 per share for the year, up from their previous forecast of $0.49. Seaport Global Securities also issued estimates for Parsley Energy’s Q4 2018 earnings at $0.40 EPS.

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

A number of other research analysts have also recently commented on PE. ValuEngine cut shares of Parsley Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $46.00 target price on shares of Parsley Energy in a research report on Sunday, September 3rd. Piper Jaffray Companies reduced their target price on shares of Parsley Energy from $42.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. KeyCorp reissued a “buy” rating and set a $39.00 target price on shares of Parsley Energy in a research report on Tuesday, September 19th. Finally, J P Morgan Chase & Co cut their price target on shares of Parsley Energy from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-four have given a buy rating to the company. Parsley Energy presently has an average rating of “Buy” and a consensus price target of $39.17.

Parsley Energy (PE) opened at $26.84 on Wednesday. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $37.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $8,397.28, a price-to-earnings ratio of 70.29 and a beta of -0.05.

A number of hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd increased its stake in Parsley Energy by 6.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock valued at $251,000 after purchasing an additional 565 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in 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 valued at $193,000 after purchasing an additional 735 shares during the last quarter. Kennedy Capital Management Inc. increased its stake in Parsley Energy by 0.8% during the second quarter. Kennedy Capital Management Inc. now owns 96,169 shares of the oil and natural gas company’s stock valued at $2,669,000 after purchasing an additional 738 shares during the last quarter. ProShare Advisors LLC increased its stake in Parsley Energy by 3.9% during the second quarter. ProShare Advisors LLC now owns 20,637 shares of the oil and natural gas company’s stock valued at $573,000 after purchasing an additional 768 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in 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 valued at $113,000 after purchasing an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 80.16% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Seaport Global Securities Brokers Lift Earnings Estimates for Parsley Energy, Inc. (PE)” was reported by Daily Political and is the property of of Daily Political. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/12/20/seaport-global-securities-brokers-lift-earnings-estimates-for-parsley-energy-inc-pe.html.

About Parsley Energy

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)

Receive News & Ratings for Parsley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy and related companies with MarketBeat.com's FREE daily email newsletter.