Parsley Energy Inc. (NYSE:PE) – Equities researchers at Williams Capital issued their Q3 2016 earnings per share estimates for shares of Parsley Energy in a research note issued to investors on Monday. Williams Capital analyst G. Sorbara expects that the firm will post earnings of ($0.01) per share for the quarter. Williams Capital has a “Hold” rating and a $37.00 price objective on the stock. Williams Capital also issued estimates for Parsley Energy’s FY2017 earnings at $0.60 EPS and FY2018 earnings at $1.52 EPS.
A number of other research firms also recently weighed in on PE. Nomura raised their price target on shares of Parsley Energy from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Goldman Sachs Group Inc. raised their price target on shares of Parsley Energy from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Stifel Nicolaus raised their price target on shares of Parsley Energy from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, August 16th. FBR & Co started coverage on shares of Parsley Energy in a research report on Tuesday, September 13th. They set an “outperform” rating and a $41.00 price target for the company. Finally, KeyCorp raised their price target on shares of Parsley Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Parsley Energy presently has a consensus rating of “Buy” and an average price target of $31.79.
Shares of Parsley Energy (NYSE:PE) traded up 0.097% during trading on Tuesday, reaching $36.295. 910,956 shares of the company’s stock were exchanged. The company’s 50-day moving average is $33.93 and its 200 day moving average is $28.65. Parsley Energy has a 52 week low of $14.51 and a 52 week high of $37.04. The stock’s market capitalization is $6.21 billion.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.10. The firm had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $92.04 million. Parsley Energy had a negative return on equity of 0.66% and a negative net margin of 18.26%. The firm’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS.
In other news, insider Mike Hinson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $27.42, for a total transaction of $685,500.00. Following the completion of the transaction, the insider now directly owns 646,653 shares in the company, valued at $17,731,225.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bryan Sheffield sold 1,100,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $32.15, for a total value of $35,365,000.00. Following the transaction, the insider now owns 13,169,935 shares of the company’s stock, valued at $423,413,410.25. The disclosure for this sale can be found here. 24.17% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PE. Spirit of America Management Corp NY acquired a new position in shares of Parsley Energy during the third quarter worth approximately $9,775,000. Fox Run Management L.L.C. acquired a new position in shares of Parsley Energy during the third quarter worth approximately $550,000. Gradient Investments LLC raised its position in shares of Parsley Energy by 16.0% in the third quarter. Gradient Investments LLC now owns 21,596 shares of the company’s stock worth $724,000 after buying an additional 2,985 shares during the period. First American Bank acquired a new position in shares of Parsley Energy during the third quarter worth approximately $264,000. Finally, Macquarie Group Ltd. raised its position in shares of Parsley Energy by 58.0% in the second quarter. Macquarie Group Ltd. now owns 523,178 shares of the company’s stock worth $14,157,000 after buying an additional 192,035 shares during the period. Institutional investors own 84.51% of the company’s stock.
Parsley Energy Company Profile
Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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