Parsley Energy Inc (PE) to Post FY2018 Earnings of $1.25 Per Share, SunTrust Banks Forecasts

Parsley Energy Inc (NYSE:PE) – Stock analysts at SunTrust Banks lifted their FY2018 earnings estimates for Parsley Energy in a report issued on Tuesday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will earn $1.25 per share for the year, up from their prior forecast of $1.05. SunTrust Banks currently has a “Buy” rating and a $31.00 price objective on the stock. SunTrust Banks also issued estimates for Parsley Energy’s FY2019 earnings at $2.18 EPS and FY2020 earnings at $2.85 EPS.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley raised their price objective on shares of Parsley Energy from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $38.00 price objective on shares of Parsley Energy in a research note on Friday, February 2nd. ValuEngine cut shares of Parsley Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Deutsche Bank began coverage on shares of Parsley Energy in a research note on Thursday, February 1st. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Bank of America dropped their price objective on shares of Parsley Energy from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $37.38.

Shares of Parsley Energy (NYSE:PE) traded down $0.35 during midday trading on Thursday, hitting $21.74. 10,074,995 shares of the stock were exchanged, compared to its average volume of 8,102,386. The firm has a market cap of $6,944.81, a PE ratio of 271.78, a price-to-earnings-growth ratio of 0.88 and a beta of -0.32. Parsley Energy has a twelve month low of $21.12 and a twelve month high of $33.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its stake in Parsley Energy by 23.9% during the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after purchasing an additional 781 shares during the last quarter. Cerebellum GP LLC acquired a new stake in Parsley Energy during the 4th quarter worth $128,000. American International Group Inc. acquired a new stake in Parsley Energy during the 4th quarter worth $155,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Parsley Energy during the 3rd quarter worth $196,000. Finally, Trexquant Investment LP acquired a new stake in Parsley Energy during the 3rd quarter worth $206,000. 80.06% of the stock is currently owned by hedge funds and other institutional investors.

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Parsley Energy Company Profile

Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses 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 includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

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

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