Jefferies Group LLC initiated coverage on shares of Parsley Energy, Inc. (NYSE:PE) in a research report released on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $34.00 price target on the oil and natural gas company’s stock. Jefferies Group also issued estimates for Parsley Energy’s Q3 2017 earnings at $0.09 EPS, Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.39 EPS, Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $0.73 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.41 EPS and FY2019 earnings at $1.56 EPS.
PE has been the subject of several other research reports. Stifel Nicolaus reissued a buy rating and issued a $46.00 price target on shares of Parsley Energy in a research report on Sunday, September 3rd. Citigroup Inc. set a $50.00 price objective on shares of Parsley Energy and gave the stock a buy rating in a research report on Friday, July 21st. ValuEngine cut shares of Parsley Energy from a hold rating to a sell rating in a research report on Friday, September 1st. Northland Securities set a $43.00 price objective on shares of Parsley Energy and gave the stock a buy rating in a research report on Monday, August 21st. Finally, Wolfe Research initiated coverage on shares of Parsley Energy in a research report on Thursday, June 15th. They set an outperform rating and a $40.00 price objective for the company. Three research analysts have rated the stock with a sell rating and twenty-three have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $41.09.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The business had revenue of $213.68 million during the quarter, compared to analysts’ expectations of $216.54 million. During the same period in the prior year, the business earned $0.04 EPS. The business’s quarterly revenue was up 99.9% on a year-over-year basis.
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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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