Brokers Issue Forecasts for Parsley Energy Inc’s Q3 2019 Earnings (NYSE:PE)

Parsley Energy Inc (NYSE:PE) – Stock analysts at Capital One Financial boosted their Q3 2019 EPS estimates for shares of Parsley Energy in a note issued to investors on Tuesday, October 22nd. Capital One Financial analyst P. Johnston now expects that the oil and natural gas company will earn $0.32 per share for the quarter, up from their prior forecast of $0.31. Capital One Financial also issued estimates for Parsley Energy’s FY2019 earnings at $1.21 EPS.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $198.50 million for the quarter, compared to the consensus estimate 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 was down 57.6% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS.

Several other analysts also recently issued reports on the company. Wells Fargo & Co raised their price target on Parsley Energy from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. ValuEngine raised Parsley Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price target on Parsley Energy from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, October 4th. Cowen set a $24.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Robert W. Baird cut their target price on Parsley Energy from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Parsley Energy currently has a consensus rating of “Buy” and a consensus price target of $27.68.

Shares of NYSE PE opened at $16.46 on Friday. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 0.36 and a beta of 0.47. Parsley Energy has a 12-month low of $13.72 and a 12-month high of $25.99. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $17.14 and its 200 day simple moving average is $17.89.

Institutional investors have recently made changes to their positions in the business. River & Mercantile Asset Management LLP acquired a new position in shares of Parsley Energy during the 2nd quarter valued at $29,000. Quadrant Capital Group LLC increased its position in shares of Parsley Energy by 214.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,175 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 1,484 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Parsley Energy during the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC acquired a new position in shares of Parsley Energy during the 2nd quarter valued at $76,000. Finally, Machina Capital S.A.S. acquired a new position in shares of Parsley Energy during the 2nd quarter valued at $86,000. 82.48% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently announced a — dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, September 19th. Parsley Energy’s payout ratio is currently 8.51%.

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.

Further Reading: Hold Rating

Earnings History and Estimates for Parsley Energy (NYSE:PE)

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