$299.05 Million in Sales Expected for Parsley Energy Inc (PE) This Quarter

Wall Street brokerages expect Parsley Energy Inc (NYSE:PE) to post sales of $299.05 million for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Parsley Energy’s earnings, with the highest sales estimate coming in at $314.55 million and the lowest estimate coming in at $286.00 million. Parsley Energy reported sales of $155.88 million during the same quarter last year, which indicates a positive year-over-year growth rate of 91.8%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Parsley Energy will report full-year sales of $299.05 million for the current year, with estimates ranging from $936.00 million to $989.41 million. For the next year, analysts anticipate that the firm will post sales of $1.59 billion per share, with estimates ranging from $1.43 billion to $1.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Parsley Energy.

Several research firms have recently weighed in on PE. Credit Suisse Group dropped their target price on shares of Parsley Energy from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Scotiabank reissued a “buy” rating and issued a $38.00 target price on shares of Parsley Energy in a research report on Wednesday, November 22nd. Williams Capital downgraded shares of Parsley Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $38.00 to $34.00 in a research report on Tuesday, January 30th. Northland Securities reissued a “buy” rating and issued a $40.00 target price on shares of Parsley Energy in a research report on Friday, November 10th. Finally, Morgan Stanley boosted their target price on shares of Parsley Energy from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating to the stock. Parsley Energy presently has an average rating of “Buy” and an average price target of $37.38.

A number of hedge funds and other institutional investors have recently bought and sold shares of PE. Point72 Asset Management L.P. grew its position in Parsley Energy by 164.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,709,178 shares of the oil and natural gas company’s stock worth $150,380,000 after purchasing an additional 3,549,307 shares during the last quarter. Boston Partners grew its position in Parsley Energy by 19.3% in the 3rd quarter. Boston Partners now owns 15,267,555 shares of the oil and natural gas company’s stock worth $402,148,000 after purchasing an additional 2,466,399 shares during the last quarter. Schroder Investment Management Group bought a new position in Parsley Energy in the 3rd quarter worth about $33,808,000. Third Point LLC grew its position in Parsley Energy by 18.9% in the 3rd quarter. Third Point LLC now owns 5,350,000 shares of the oil and natural gas company’s stock worth $140,919,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Parsley Energy by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 8,457,237 shares of the oil and natural gas company’s stock worth $248,980,000 after purchasing an additional 648,938 shares during the last quarter. Hedge funds and other institutional investors own 80.06% of the company’s stock.

Parsley Energy (PE) opened at $22.09 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm has a market cap of $6,940.00, a price-to-earnings ratio of 315.57, a P/E/G ratio of 0.93 and a beta of -0.32. Parsley Energy has a 1-year low of $21.95 and a 1-year high of $33.07.

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

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