Parsley Energy Inc (NYSE:PE) – Analysts at Seaport Global Securities increased their FY2018 earnings per share estimates for Parsley Energy in a research report issued on Monday, August 27th. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will post earnings per share of $1.65 for the year, up from their prior forecast of $1.64. Seaport Global Securities currently has a “Buy” rating and a $39.00 target price on the stock. Seaport Global Securities also issued estimates for Parsley Energy’s Q4 2018 earnings at $0.49 EPS and Q4 2019 earnings at $0.71 EPS.
Parsley Energy (NYSE:PE) last released its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $467.79 million for the quarter, compared to analyst estimates of $431.02 million. Parsley Energy had a return on equity of 5.25% and a net margin of 16.89%.
Several other analysts have also issued reports on PE. ValuEngine raised Parsley Energy from a “sell” rating to a “hold” rating in a report on Monday, June 18th. Jefferies Financial Group increased their target price on Parsley Energy from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. National Alliance Securities raised Parsley Energy from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Williams Capital set a $38.00 target price on Parsley Energy and gave the stock a “hold” rating in a report on Wednesday, August 8th. Finally, KLR Group reissued a “buy” rating and set a $43.00 target price on shares of Parsley Energy in a report on Monday, August 20th. Five analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $38.73.
PE opened at $28.87 on Thursday. The firm has a market cap of $9.13 billion, a PE ratio of 25.74, a P/E/G ratio of 0.65 and a beta of -0.48. Parsley Energy has a 52-week low of $21.12 and a 52-week 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.
Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its position in Parsley Energy by 487.2% in the second quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock valued at $124,000 after purchasing an additional 3,376 shares during the last quarter. LS Investment Advisors LLC raised its position in Parsley Energy by 67.0% in the first quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock valued at $118,000 after purchasing an additional 1,639 shares during the last quarter. MHI Funds LLC bought a new position in Parsley Energy in the second quarter valued at about $163,000. Cerebellum GP LLC raised its position in shares of Parsley Energy by 129.3% during the second quarter. Cerebellum GP LLC now owns 6,099 shares of the oil and natural gas company’s stock worth $185,000 after acquiring an additional 3,439 shares during the last quarter. Finally, Deprince Race & Zollo Inc. bought a new position in shares of Parsley Energy during the second quarter worth about $212,000. Hedge funds and other institutional investors own 84.03% of the company’s stock.
In related news, insider Mike Hinson sold 13,328 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $28.75, for a total transaction of $383,180.00. Following the completion of the sale, the insider now directly owns 400,650 shares in the company, valued at approximately $11,518,687.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Colin Roberts sold 10,000 shares of the stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $30.21, for a total value of $302,100.00. Following the completion of the transaction, the insider now owns 224,600 shares of the company’s stock, valued at $6,785,166. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 273,328 shares of company stock valued at $8,245,280. 13.17% of the stock is owned by corporate insiders.
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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