Parsley Energy, Inc. to Post FY2017 Earnings of $0.52 Per Share, Seaport Global Securities Forecasts (PE)

Parsley Energy, Inc. (NYSE:PE) – Equities research analysts at Seaport Global Securities raised their FY2017 EPS estimates for shares of Parsley Energy in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will post earnings of $0.52 per share for the year, up from their previous estimate of $0.49. Seaport Global Securities also issued estimates for Parsley Energy’s Q4 2018 earnings at $0.40 EPS.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The business had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. During the same quarter in the previous year, the business earned $0.05 EPS. Parsley Energy’s quarterly revenue was up 81.8% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. KeyCorp reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Parsley Energy in a research note on Tuesday, September 19th. US Capital Advisors reaffirmed an “overweight” rating on shares of Parsley Energy in a research note on Monday, October 2nd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Parsley Energy in a research note on Sunday, September 24th. Scotiabank reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Parsley Energy in a research note on Wednesday, November 22nd. Finally, BMO Capital Markets set a $35.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-four have assigned a buy rating to the company. Parsley Energy presently has a consensus rating of “Buy” and a consensus target price of $39.17.

Shares of Parsley Energy (NYSE:PE) opened at $27.93 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $37.72. The stock has a market cap of $8,760.00, a price-to-earnings ratio of 70.29 and a beta of -0.05.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd raised its position in shares of Parsley Energy by 6.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock valued at $251,000 after buying an additional 565 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Parsley Energy by 14.1% during the first quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after buying an additional 735 shares during the last quarter. Kennedy Capital Management Inc. raised its position in shares of Parsley Energy by 0.8% during the second quarter. Kennedy Capital Management Inc. now owns 96,169 shares of the oil and natural gas company’s stock valued at $2,669,000 after buying an additional 738 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Parsley Energy by 3.9% during the second quarter. ProShare Advisors LLC now owns 20,637 shares of the oil and natural gas company’s stock valued at $573,000 after buying an additional 768 shares during the last quarter. Finally, Advisor Group Inc. raised its position in shares of Parsley Energy by 23.9% during the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock valued at $113,000 after buying an additional 781 shares during the last quarter. 80.16% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Parsley Energy (NYSE:PE)

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