Parsley Energy Inc (NYSE:PE) – Equities researchers at SunTrust Banks reduced their Q3 2019 EPS estimates for shares of Parsley Energy in a research report issued 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 prior forecast of $0.34. SunTrust Banks currently has a “Buy” rating and a $23.00 price objective 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 announced its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Parsley Energy had a return on equity of 5.72% and a net margin of 13.69%. The business had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $467.53 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was down 57.6% compared to the same quarter last year.
Other equities research analysts have also recently issued reports about the company. Citigroup decreased their price objective on Parsley Energy from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Morgan Stanley decreased their price objective on Parsley Energy from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, October 4th. ValuEngine raised Parsley Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Mizuho raised Parsley Energy from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, September 16th. Finally, MKM Partners began coverage on Parsley Energy in a research note on Tuesday, August 27th. They issued a “buy” rating and a $26.00 target price for the company. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.36.
Shares of Parsley Energy stock 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. Parsley Energy has a 12 month low of $13.72 and a 12 month high of $27.13. The business has a fifty day simple moving average of $17.17 and a 200 day simple moving average of $17.91. The stock has a market cap of $4.94 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.33 and a beta of 0.47.
The company also recently declared a — dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, September 19th. Parsley Energy’s dividend payout ratio (DPR) is 8.51%.
Several institutional investors have recently modified their holdings of PE. River & Mercantile Asset Management LLP bought a new stake in Parsley Energy during the second quarter worth about $29,000. Quantamental Technologies LLC bought a new stake in Parsley Energy in the second quarter valued at approximately $53,000. Nisa Investment Advisors LLC bought a new stake in Parsley Energy in the second quarter valued at approximately $76,000. Machina Capital S.A.S. bought a new stake in Parsley Energy in the second quarter valued at approximately $86,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Parsley Energy by 22.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock valued at $98,000 after buying an additional 958 shares during the period. Institutional investors own 82.48% of the company’s stock.
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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