Parsley Energy Inc (NYSE:PE) – Equities researchers at Jefferies Group decreased their Q2 2018 earnings estimates for shares of Parsley Energy in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Lear now anticipates that the oil and natural gas company will earn $0.20 per share for the quarter, down from their previous forecast of $0.21. Jefferies Group also issued estimates for Parsley Energy’s FY2018 earnings at $0.79 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.36 EPS and FY2019 earnings at $1.24 EPS.
Parsley Energy (NYSE:PE) last issued its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The firm had revenue of $311.49 million during the quarter, compared to the consensus estimate of $298.04 million. Parsley Energy had a return on equity of 3.10% and a net margin of 11.04%. The business’s quarterly revenue was up 99.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share.
PE has been the subject of several other research reports. Bank of America boosted their target price on Parsley Energy from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, March 8th. Credit Suisse Group set a $38.00 target price on Parsley Energy and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Williams Capital downgraded Parsley Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $38.00 to $34.00 in a research note on Tuesday, January 30th. Piper Jaffray Companies reissued a “buy” rating and set a $38.00 target price on shares of Parsley Energy in a research note on Friday, February 2nd. Finally, Morgan Stanley downgraded Parsley Energy from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. Parsley Energy has an average rating of “Buy” and an average price target of $36.17.
Parsley Energy (PE) opened at $28.14 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $8,458.13, a PE ratio of 43.06, a price-to-earnings-growth ratio of 1.29 and a beta of -0.39. Parsley Energy has a 52 week low of $21.12 and a 52 week high of $33.07.
Hedge funds have recently made changes to their positions in the stock. Assetmark Inc. boosted its holdings in Parsley Energy by 417.5% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock valued at $105,000 after acquiring an additional 2,864 shares during the last quarter. Cerebellum GP LLC bought a new stake in Parsley Energy in the fourth quarter valued at approximately $128,000. American International Group Inc. acquired a new position in Parsley Energy in the fourth quarter valued at approximately $155,000. Trexquant Investment LP acquired a new position in Parsley Energy in the third quarter valued at approximately $206,000. Finally, Teacher Retirement System of Texas acquired a new position in Parsley Energy in the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 81.97% of the company’s stock.
In related news, Director Ron Brokmeyer bought 2,000 shares of Parsley Energy stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $25.66 per share, for a total transaction of $51,320.00. Following the completion of the acquisition, the director now directly owns 112,128 shares of the company’s stock, valued at approximately $2,877,204.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bryan Sheffield bought 189,500 shares of Parsley Energy stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average price of $26.34 per share, for a total transaction of $4,991,430.00. Following the completion of the acquisition, the insider now directly owns 11,533,063 shares of the company’s stock, valued at $303,780,879.42. The disclosure for this purchase can be found here. Corporate insiders own 15.51% of the company’s stock.
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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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