Parsley Energy (NYSE:PE) released its earnings results on Tuesday. The oil and natural gas company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.05), Fidelity Earnings reports. The business had revenue of $510.15 million during the quarter, compared to the consensus estimate of $503.05 million. Parsley Energy had a net margin of 14.03% and a return on equity of 5.00%. The business’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share.
Shares of NYSE:PE traded down $0.36 during trading on Friday, hitting $16.89. 2,147,437 shares of the company were exchanged, compared to its average volume of 7,844,550. The company has a market cap of $5.37 billion, a PE ratio of 11.98, a P/E/G ratio of 0.37 and a beta of 0.51. The stock has a 50 day moving average of $16.67 and a 200 day moving average of $17.67. Parsley Energy has a 52-week low of $13.72 and a 52-week high of $25.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.50 and a quick ratio of 0.50.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.12 annualized dividend and a dividend yield of 0.71%. Parsley Energy’s dividend payout ratio is currently 8.51%.
Several equities analysts have recently issued reports on the company. MKM Partners assumed coverage on Parsley Energy in a report on Tuesday, August 27th. They issued a “buy” rating and a $26.00 target price for the company. Robert W. Baird reduced their target price on Parsley Energy from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Citigroup dropped their price objective on Parsley Energy from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. ValuEngine downgraded Parsley Energy from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, SunTrust Banks set a $23.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. Parsley Energy currently has an average rating of “Buy” and a consensus target price of $27.23.
Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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