Parsley Energy, Inc. (NYSE:PE) - Research analysts at Williams Capital cut their Q2 2017 earnings per share estimates for shares of Parsley Energy in a research report issued to clients and investors on Tuesday. Williams Capital analyst G. Sorbara now expects that the oil and natural gas company will post earnings of $0.13 per share for the quarter, down from their previous forecast of $0.15. Williams Capital has a “Buy” rating and a $37.00 price target on the stock. Williams Capital also issued estimates for Parsley Energy’s FY2017 earnings at $0.81 EPS, FY2018 earnings at $1.78 EPS and FY2019 earnings at $2.97 EPS.
PE has been the topic of several other research reports. Scotiabank set a $43.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Monday, March 27th. Citigroup Inc. restated a “buy” rating and set a $48.00 target price (up previously from $40.00) on shares of Parsley Energy in a research report on Saturday, April 22nd. FBR & Co set a $42.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Thursday, June 1st. Northland Securities set a $43.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Monday. Finally, Wolfe Research started coverage on Parsley Energy in a research report on Thursday, June 15th. They set an “outperform” rating and a $40.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Parsley Energy has an average rating of “Buy” and an average price target of $40.30.
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Parsley Energy (PE) opened at 28.13 on Wednesday. The firm’s 50-day moving average price is $27.78 and its 200-day moving average price is $31.10. Parsley Energy has a 1-year low of $25.17 and a 1-year high of $39.82. The company’s market cap is $6.93 billion.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Thursday, May 4th. The oil and natural gas company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.06. Parsley Energy had a positive return on equity of 2.04% and a negative net margin of 4.26%. The firm had revenue of $200.90 million for the quarter, compared to analyst estimates of $181.23 million. During the same quarter last year, the company earned ($0.02) EPS. The company’s revenue was up 222.5% on a year-over-year basis.
In other news, Director A R. Alameddine bought 3,500 shares of Parsley Energy stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average price of $31.65 per share, with a total value of $110,775.00. Following the completion of the purchase, the director now directly owns 94,888 shares in the company, valued at $3,003,205.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan Dalton sold 30,000 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $32.56, for a total value of $976,800.00. Following the completion of the transaction, the insider now directly owns 329,957 shares in the company, valued at approximately $10,743,399.92. The disclosure for this sale can be found here. In the last three months, insiders sold 1,723,900 shares of company stock worth $54,188,730. 15.51% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PE. BB&T Corp boosted its position in Parsley Energy by 10.9% in the second quarter. BB&T Corp now owns 24,571 shares of the oil and natural gas company’s stock worth $683,000 after buying an additional 2,415 shares in the last quarter. Viking Fund Management LLC boosted its position in shares of Parsley Energy by 8.3% in the second quarter. Viking Fund Management LLC now owns 780,000 shares of the oil and natural gas company’s stock worth $21,645,000 after buying an additional 60,000 shares during the period. Aperio Group LLC boosted its position in shares of Parsley Energy by 76.1% in the second quarter. Aperio Group LLC now owns 39,278 shares of the oil and natural gas company’s stock worth $1,090,000 after buying an additional 16,973 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Parsley Energy by 2,252.9% in the second quarter. Nisa Investment Advisors LLC now owns 12,000 shares of the oil and natural gas company’s stock worth $335,000 after buying an additional 11,490 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Parsley Energy by 539.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 36,014 shares of the oil and natural gas company’s stock worth $999,000 after buying an additional 30,384 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.
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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