Wall Street analysts forecast that Parsley Energy, Inc. (NYSE:PE) will report $289.50 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Parsley Energy’s earnings, with the highest sales estimate coming in at $350.53 million and the lowest estimate coming in at $256.00 million. Parsley Energy posted sales of $155.88 million during the same quarter last year, which would indicate a positive year over year growth rate of 85.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Parsley Energy will report full year sales of $289.50 million for the current fiscal year, with estimates ranging from $903.20 million to $1.02 billion. For the next financial year, analysts expect that the business will post sales of $1.51 billion per share, with estimates ranging from $1.13 billion to $2.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Parsley Energy.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The company had revenue of $241.02 million for the quarter, compared to the consensus estimate of $234.58 million. During the same period last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 81.8% compared to the same quarter last year.
A number of research analysts have weighed in on PE shares. Northland Securities reissued a “buy” rating and issued a $40.00 target price on shares of Parsley Energy in a research note on Friday. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. KeyCorp reaffirmed a “buy” rating and set a $39.00 price target on shares of Parsley Energy in a research report on Tuesday, September 19th. Stifel Nicolaus set a $46.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Piper Jaffray Companies dropped their target price on shares of Parsley Energy from $42.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $40.36.
Shares of Parsley Energy (NYSE:PE) opened at $26.77 on Tuesday. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $39.82. 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 capitalization of $8,545.34, a PE ratio of 71.53, a PEG ratio of 3.12 and a beta of -0.05.
A number of large investors have recently bought and sold shares of the business. King Luther Capital Management Corp raised its stake in Parsley Energy by 53.7% during the third quarter. King Luther Capital Management Corp now owns 100,036 shares of the oil and natural gas company’s stock worth $2,635,000 after purchasing an additional 34,930 shares during the period. Nippon Life Global Investors Americas Inc. raised its stake in shares of Parsley Energy by 64.3% in the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 293,150 shares of the oil and natural gas company’s stock valued at $7,721,000 after acquiring an additional 114,760 shares during the period. Nicholas Investment Partners LP raised its stake in shares of Parsley Energy by 23.6% in the 3rd quarter. Nicholas Investment Partners LP now owns 125,556 shares of the oil and natural gas company’s stock valued at $3,307,000 after acquiring an additional 23,936 shares during the period. Stifel Financial Corp raised its stake in shares of Parsley Energy by 73.6% in the 3rd quarter. Stifel Financial Corp now owns 76,615 shares of the oil and natural gas company’s stock valued at $2,020,000 after acquiring an additional 32,470 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Parsley Energy by 137.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 211,693 shares of the oil and natural gas company’s stock valued at $5,576,000 after acquiring an additional 122,704 shares during the period. 78.49% of the stock is currently owned by institutional investors.
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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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