Parsley Energy Inc (NYSE:PE) – Capital One Financial raised their Q3 2019 earnings per share (EPS) estimates for Parsley Energy in a research note issued on Friday, October 18th. Capital One Financial analyst P. Johnston now expects that the oil and natural gas company will earn $0.31 per share for the quarter, up from their previous estimate of $0.29. Capital One Financial also issued estimates for Parsley Energy’s Q4 2019 earnings at $0.34 EPS, FY2019 earnings at $1.20 EPS and FY2020 earnings at $1.84 EPS.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $198.50 million during the quarter, compared to analyst estimates of $467.53 million. Parsley Energy had a net margin of 13.69% and a return on equity of 5.72%. Parsley Energy’s revenue was down 57.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS.
Other research analysts have also issued research reports about the stock. Robert W. Baird reduced their price objective on shares of Parsley Energy from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. ValuEngine upgraded shares of Parsley Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co boosted their price objective on shares of Parsley Energy from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. MKM Partners initiated coverage on shares of Parsley Energy in a research note on Tuesday, August 27th. They set a “buy” rating and a $26.00 price objective for the company. Finally, SunTrust Banks set a $23.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $28.36.
NYSE PE opened at $16.38 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. The firm has a market cap of $4.94 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.33 and a beta of 0.47. The company has a 50 day moving average price of $17.17 and a 200 day moving average price of $17.91. Parsley Energy has a 52 week low of $13.72 and a 52 week high of $27.13.
Several hedge funds have recently added to or reduced their stakes in PE. River & Mercantile Asset Management LLP purchased a new stake in shares of Parsley Energy in the 2nd quarter valued at $29,000. Quantamental Technologies LLC purchased a new stake in shares of Parsley Energy in the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC purchased a new stake in shares of Parsley Energy in the 2nd quarter valued at $76,000. Machina Capital S.A.S. purchased a new stake in shares of Parsley Energy in the 2nd quarter valued at $86,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Parsley Energy by 22.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock valued at $98,000 after acquiring an additional 958 shares during the last quarter. 82.48% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a — dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, September 19th. Parsley Energy’s dividend payout ratio (DPR) is currently 8.51%.
About Parsley Energy
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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