Parsley Energy (PE) Expected to Post Q2 2018 Earnings of $0.19 Per Share
Parsley Energy (NYSE:PE) – Research analysts at Jefferies Group decreased their Q2 2018 earnings per share estimates for shares of Parsley Energy in a report issued on Wednesday, April 25th. Jefferies Group analyst M. Lear now forecasts that the oil and natural gas company will post earnings per share of $0.19 for the quarter, down from their previous forecast of $0.20. Jefferies Group currently has a “Buy” rating and a $38.00 target price on the stock. Jefferies Group also issued estimates for Parsley Energy’s Q3 2018 earnings at $0.23 EPS, Q3 2019 earnings at $0.32 EPS, Q4 2019 earnings at $0.35 EPS, FY2019 earnings at $1.22 EPS, Q1 2020 earnings at $0.53 EPS and FY2020 earnings at $2.37 EPS.
Other analysts have also issued reports about the company. SunTrust Banks set a $34.00 price target on Parsley Energy and gave the stock a “buy” rating in a research note on Thursday, March 29th. Credit Suisse Group lowered their price target on Parsley Energy from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Williams Capital lowered Parsley Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from $38.00 to $34.00 in a research note on Tuesday, January 30th. Piper Jaffray reaffirmed a “buy” rating and issued a $38.00 price target on shares of Parsley Energy in a research note on Friday, February 2nd. Finally, Morgan Stanley lowered Parsley Energy from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $37.17.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. Parsley Energy had a return on equity of 3.10% and a net margin of 11.04%. The company had revenue of $311.49 million for the quarter, compared to analyst estimates of $298.04 million. During the same period last year, the company earned $0.06 earnings per share. Parsley Energy’s quarterly revenue was up 99.8% compared to the same quarter last year.
In related news, insider Colin Roberts sold 7,500 shares of Parsley Energy stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $28.29, for a total transaction of $212,175.00. Following the transaction, the insider now owns 254,204 shares in the company, valued at $7,191,431.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ron Brokmeyer acquired 2,000 shares of Parsley Energy stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average price of $25.66 per share, for a total transaction of $51,320.00. Following the transaction, the director now owns 112,128 shares of the company’s stock, valued at approximately $2,877,204.48. The disclosure for this purchase can be found here. Company insiders own 13.17% of the company’s stock.
Large investors have recently bought and sold shares of the business. Assetmark Inc. raised its position in Parsley Energy by 417.5% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock valued at $105,000 after purchasing an additional 2,864 shares during the period. Cerebellum GP LLC purchased a new stake in Parsley Energy in the fourth quarter valued at $128,000. American International Group Inc. purchased a new stake in Parsley Energy in the fourth quarter valued at $155,000. M&T Bank Corp purchased a new stake in Parsley Energy in the fourth quarter valued at $249,000. Finally, Mariner Wealth Advisors LLC purchased a new stake in Parsley Energy in the fourth quarter valued at $309,000. Institutional investors own 81.94% of the company’s stock.
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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