Trading Report: Today, Parsley Energy Inc. (PE) Forecasted to Post Q1 2017 Earnings of $0.08 Per Share

Today, Parsley Energy Inc. (PE) Forecasted to Post Q1 2017 Earnings of $0.08 Per Share

Parsley Energy Inc. (NYSE:PE) – Analysts at KeyCorp increased their Q1 2017 earnings estimates for shares of Parsley Energy in a research report issued on Tuesday. KeyCorp analyst C. Stevens now expects that the firm will earn $0.08 per share for the quarter, up from their previous estimate of $0.07. KeyCorp has a “Overweight” rating and a $44.00 price target on the stock. KeyCorp also issued estimates for Parsley Energy’s FY2017 earnings at $0.58 EPS, Q1 2018 earnings at $0.32 EPS, Q2 2018 earnings at $0.42 EPS and FY2018 earnings at $1.88 EPS.

A number of other equities research analysts also recently weighed in on PE. Barclays PLC lifted their target price on Parsley Energy from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Imperial Capital lifted their target price on Parsley Energy from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Zacks Investment Research raised Parsley Energy from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Wednesday, October 12th. Nomura lifted their target price on Parsley Energy from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Finally, FBR & Co assumed coverage on Parsley Energy in a research report on Tuesday, September 13th. They set an “outperform” rating and a $41.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $32.25.

Shares of Parsley Energy (NYSE:PE) opened at 35.92 on Wednesday. The firm’s market capitalization is $6.45 billion. The company has a 50-day moving average price of $35.03 and a 200 day moving average price of $30.86. Parsley Energy has a 52-week low of $14.51 and a 52-week high of $37.20.

Parsley Energy (NYSE:PE) last posted its earnings results on Wednesday, November 2nd. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Parsley Energy had a positive return on equity of 0.24% and a negative net margin of 15.86%. The firm had revenue of $132.67 million for the quarter, compared to analysts’ expectations of $82.30 million. During the same period last year, the firm earned ($0.08) EPS. The firm’s revenue was up 106.6% compared to the same quarter last year.

Institutional investors have recently made changes to their positions in the stock. Scout Investments Inc. raised its position in shares of Parsley Energy by 92.5% in the third quarter. Scout Investments Inc. now owns 403,318 shares of the company’s stock valued at $13,515,000 after buying an additional 193,761 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Parsley Energy by 7.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,982,455 shares of the company’s stock valued at $233,982,000 after buying an additional 485,543 shares during the period. Quantitative Systematic Strategies LLC bought a new position in shares of Parsley Energy during the third quarter worth $361,000. J.P. Marvel Investment Advisors LLC raised its position in shares of Parsley Energy by 53.8% in the third quarter. J.P. Marvel Investment Advisors LLC now owns 58,191 shares of the company’s stock worth $1,950,000 after buying an additional 20,345 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Parsley Energy by 72.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 6,247 shares of the company’s stock worth $209,000 after buying an additional 2,624 shares during the last quarter. 85.44% of the stock is owned by institutional investors.

In other news, Director A R. Alameddine purchased 8,000 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was bought at an average price of $34.75 per share, with a total value of $278,000.00. Following the acquisition, the director now directly owns 89,488 shares of the company’s stock, valued at $3,109,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mike Hinson sold 25,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.65, for a total transaction of $841,250.00. Following the completion of the transaction, the insider now directly owns 546,653 shares of the company’s stock, valued at approximately $18,394,873.45. The disclosure for this sale can be found here. 24.17% of the stock is currently owned by insiders.

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