Analysts expect that Parsley Energy Inc (NYSE:PE) will post earnings per share of $0.43 for the current quarter, Zacks reports. Ten analysts have provided estimates for Parsley Energy’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.55. Parsley Energy posted earnings of $0.12 per share during the same quarter last year, which would suggest a positive year over year growth rate of 258.3%. The firm is expected to issue its next earnings report after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that Parsley Energy will report full-year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.14 to $1.77. For the next financial year, analysts forecast that the firm will report earnings of $2.36 per share, with EPS estimates ranging from $1.74 to $3.48. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Parsley Energy.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). Parsley Energy had a return on equity of 5.25% and a net margin of 16.89%. The company had revenue of $467.79 million during the quarter, compared to analyst estimates of $431.02 million.

PE has been the topic of a number of research reports. Stifel Nicolaus set a $58.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $47.00 price target on shares of Parsley Energy in a research note on Thursday, August 16th. KLR Group reaffirmed a “buy” rating and issued a $43.00 price target on shares of Parsley Energy in a research note on Monday, August 20th. Zacks Investment Research downgraded shares of Parsley Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Williams Capital set a $36.00 price target on shares of Parsley Energy and gave the stock a “hold” rating in a research note on Monday, August 20th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Parsley Energy has a consensus rating of “Buy” and a consensus price target of $38.60.

In other Parsley Energy news, Director Hemang Desai acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was purchased at an average cost of $27.32 per share, for a total transaction of $27,320.00. Following the completion of the acquisition, the director now owns 31,886 shares of the company’s stock, valued at approximately $871,125.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bryan Sheffield sold 2,500,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $28.15, for a total transaction of $70,375,000.00. Following the completion of the sale, the insider now owns 9,033,063 shares of the company’s stock, valued at $254,280,723.45. The disclosure for this sale can be found here. Insiders sold 2,763,328 shares of company stock valued at $78,318,180 over the last quarter. 13.17% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Parsley Energy by 18.7% during the second quarter. BlackRock Inc. now owns 13,439,196 shares of the oil and natural gas company’s stock valued at $406,938,000 after acquiring an additional 2,112,853 shares during the period. Bank of New York Mellon Corp boosted its holdings in Parsley Energy by 20.1% during the second quarter. Bank of New York Mellon Corp now owns 6,895,147 shares of the oil and natural gas company’s stock valued at $208,786,000 after acquiring an additional 1,156,137 shares during the period. Van ECK Associates Corp boosted its holdings in Parsley Energy by 2.0% during the second quarter. Van ECK Associates Corp now owns 6,036,579 shares of the oil and natural gas company’s stock valued at $182,788,000 after acquiring an additional 116,093 shares during the period. Millennium Management LLC boosted its holdings in Parsley Energy by 37.7% during the second quarter. Millennium Management LLC now owns 5,783,131 shares of the oil and natural gas company’s stock valued at $175,113,000 after acquiring an additional 1,583,137 shares during the period. Finally, PointState Capital LP boosted its holdings in Parsley Energy by 178.2% during the first quarter. PointState Capital LP now owns 5,566,158 shares of the oil and natural gas company’s stock valued at $161,363,000 after acquiring an additional 3,565,358 shares during the period. Institutional investors own 84.58% of the company’s stock.

Shares of NYSE PE traded up $0.46 during mid-day trading on Friday, reaching $29.00. The company had a trading volume of 4,057,289 shares, compared to its average volume of 5,353,040. Parsley Energy has a twelve month low of $21.12 and a twelve month high of $33.43. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $9.27 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 0.62 and a beta of -0.56.

Parsley Energy Company Profile

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.

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

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