Parsley Energy Inc (NYSE:PE) – Research analysts at Imperial Capital lowered their FY2019 EPS estimates for shares of Parsley Energy in a report released on Tuesday, October 15th, according to Zacks Investment Research. Imperial Capital analyst I. Haas now forecasts that the oil and natural gas company will post earnings per share of $1.27 for the year, down from their previous estimate of $1.40. Imperial Capital also issued estimates for Parsley Energy’s FY2020 earnings at $1.86 EPS.
Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, November 5th. The oil and natural gas company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.05). The firm had revenue of $510.15 million for the quarter, compared to analyst estimates of $503.05 million. Parsley Energy had a return on equity of 5.00% and a net margin of 14.03%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS.
PE has been the topic of a number of other research reports. TD Securities decreased their price objective on shares of Parsley Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Citigroup decreased their price objective on shares of Parsley Energy from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. MKM Partners began coverage on shares of Parsley Energy in a report on Tuesday, August 27th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Bank of America increased their price objective on shares of Parsley Energy from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One equities research analyst has 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. The company currently has a consensus rating of “Buy” and an average target price of $27.23.
NYSE:PE traded down $0.15 during mid-day trading on Friday, reaching $17.10. 7,090,686 shares of the company were exchanged, compared to its average volume of 5,396,525. Parsley Energy has a 12 month low of $13.72 and a 12 month high of $24.82. The company has a fifty day moving average of $16.63 and a 200 day moving average of $17.65. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. The stock has a market cap of $5.37 billion, a PE ratio of 12.13, a PEG ratio of 0.37 and a beta of 0.51.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Tuesday, December 10th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Monday, December 9th. Parsley Energy’s dividend payout ratio (DPR) is presently 8.51%.
Hedge funds and other institutional investors have recently modified their holdings of the company. River & Mercantile Asset Management LLP acquired a new stake in shares of Parsley Energy in the 2nd quarter valued at approximately $29,000. Quadrant Capital Group LLC raised its position in shares of Parsley Energy by 214.8% in 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 acquiring an additional 1,484 shares during the period. First Quadrant L P CA acquired a new stake in shares of Parsley Energy in the 3rd quarter valued at approximately $42,000. Quantamental Technologies LLC acquired a new stake in shares of Parsley Energy in the 2nd quarter valued at approximately $53,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Parsley Energy in the 2nd quarter valued at approximately $76,000. 83.06% of the stock is currently owned by institutional investors.
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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