Parsley Energy Inc (NYSE:PE) – Equities researchers at SunTrust Banks reduced their FY2019 earnings per share estimates for Parsley Energy in a note issued to investors on Wednesday, November 6th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will earn $1.15 per share for the year, down from their previous forecast of $1.29. SunTrust Banks currently has a “Buy” rating and a $23.00 target price on the stock. SunTrust Banks also issued estimates for Parsley Energy’s Q4 2019 earnings at $0.32 EPS, Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $0.45 EPS, Q3 2020 earnings at $0.47 EPS, FY2020 earnings at $1.85 EPS, Q1 2021 earnings at $0.46 EPS, Q2 2021 earnings at $0.47 EPS and Q3 2021 earnings at $0.49 EPS.
PE has been the subject of several other research reports. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. TD Securities cut their target price on shares of Parsley Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Robert W. Baird cut their target price on shares of Parsley Energy from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Cowen set a $24.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Morgan Stanley cut their target price on shares of Parsley Energy from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $27.23.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Tuesday, November 5th. The oil and natural gas company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.05). Parsley Energy had a net margin of 14.03% and a return on equity of 5.00%. The business had revenue of $510.15 million during the quarter, compared to analyst estimates of $503.05 million. During the same period in the previous year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, December 9th. This represents a $0.12 annualized dividend and a dividend yield of 0.70%. Parsley Energy’s payout ratio is 8.51%.
Several large investors have recently bought and sold shares of PE. Enlightenment Research LLC bought a new stake in Parsley Energy in the second quarter valued at about $206,000. MidWestOne Financial Group Inc. bought a new stake in Parsley Energy in the second quarter valued at about $473,000. Carlson Capital L P bought a new stake in Parsley Energy in the second quarter valued at about $8,994,000. Fisher Asset Management LLC increased its stake in Parsley Energy by 9.7% in the second quarter. Fisher Asset Management LLC now owns 935,051 shares of the oil and natural gas company’s stock valued at $17,775,000 after acquiring an additional 82,644 shares during the period. Finally, Barings LLC bought a new stake in Parsley Energy in the second quarter valued at about $604,000. Institutional investors own 83.06% of the company’s stock.
About Parsley Energy
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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