Parsley Energy Inc (NYSE:PE) – Equities research analysts at SunTrust Banks decreased their Q3 2019 earnings per share (EPS) estimates for shares of Parsley Energy in a note issued to investors on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will post earnings per share of $0.33 for the quarter, down from their previous forecast of $0.34. SunTrust Banks has a “Buy” rating and a $23.00 price target on the stock. SunTrust Banks also issued estimates for Parsley Energy’s Q4 2019 earnings at $0.41 EPS, FY2019 earnings at $1.29 EPS, Q2 2020 earnings at $0.47 EPS, FY2020 earnings at $1.93 EPS, Q1 2021 earnings at $0.52 EPS and FY2021 earnings at $2.15 EPS.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $198.50 million for the quarter, compared to analyst estimates of $467.53 million. Parsley Energy had a return on equity of 5.72% and a net margin of 13.69%. The business’s revenue for the quarter was down 57.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share.
Several other research firms also recently commented on PE. Cowen set a $24.00 target price on Parsley Energy and gave the company a “buy” rating in a research report on Wednesday, August 21st. Citigroup decreased their target price on Parsley Energy from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Bank of America upped their target price on Parsley Energy from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Mizuho raised Parsley Energy from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, September 16th. Finally, MKM Partners assumed coverage on Parsley Energy in a research report on Tuesday, August 27th. They issued a “buy” rating and a $26.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Parsley Energy currently has an average rating of “Buy” and an average price target 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 stock’s 50 day moving average price is $17.17 and its two-hundred day moving average price is $17.91. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 0.33 and a beta of 0.47. Parsley Energy has a 12-month low of $13.72 and a 12-month high of $27.13.
The business also recently declared a — dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, September 19th. Parsley Energy’s dividend payout ratio is currently 8.51%.
Large investors have recently modified their holdings of the stock. River & Mercantile Asset Management LLP acquired a new stake in Parsley Energy during the second quarter worth approximately $29,000. Quantamental Technologies LLC acquired a new stake in Parsley Energy during the second quarter worth approximately $53,000. Nisa Investment Advisors LLC acquired a new stake in Parsley Energy during the second quarter worth approximately $76,000. Machina Capital S.A.S. acquired a new stake in Parsley Energy during the second quarter worth approximately $86,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in Parsley Energy by 22.9% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock worth $98,000 after buying an additional 958 shares in the last quarter. 82.48% of the stock is currently owned by institutional investors and hedge funds.
Parsley Energy Company Profile
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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