Piper Jaffray Companies Comments on Parsley Energy Inc’s Q3 2019 Earnings (NYSE:PE)

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Parsley Energy Inc (NYSE:PE) – Analysts at Piper Jaffray Companies dropped their Q3 2019 earnings per share estimates for Parsley Energy in a report issued on Tuesday, October 15th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and natural gas company will post earnings of $0.29 per share for the quarter, down from their previous estimate of $0.30. Piper Jaffray Companies also issued estimates for Parsley Energy’s Q4 2019 earnings at $0.31 EPS, Q1 2020 earnings at $0.29 EPS, Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.30 EPS, FY2020 earnings at $1.19 EPS and FY2021 earnings at $1.15 EPS.

Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $467.53 million. Parsley Energy had a return on equity of 5.72% and a net margin of 13.69%. Parsley Energy’s revenue for the quarter was down 57.6% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS.

Other equities research analysts have also issued research reports about the company. ValuEngine raised Parsley Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Mizuho raised Parsley Energy from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, September 16th. Bank of America increased their price target on Parsley Energy from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Citigroup reduced their price target on Parsley Energy from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, TD Securities reduced their price target on Parsley Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Parsley Energy currently has an average rating of “Buy” and a consensus price target of $28.36.

PE stock opened at $16.19 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market capitalization of $4.95 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.31 and a beta of 0.47. The business’s 50-day moving average is $17.38 and its two-hundred day moving average is $17.99. Parsley Energy has a 1 year low of $13.72 and a 1 year high of $28.83.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. River & Mercantile Asset Management LLP acquired a new position in Parsley Energy during the second quarter worth approximately $29,000. Quantamental Technologies LLC acquired a new position in Parsley Energy during the second quarter worth approximately $53,000. Nisa Investment Advisors LLC acquired a new position in Parsley Energy during the second quarter worth approximately $76,000. Machina Capital S.A.S. acquired a new position in Parsley Energy during the second quarter worth approximately $86,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Parsley Energy by 22.9% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock worth $98,000 after buying an additional 958 shares during the period. 82.48% of the stock is currently owned by institutional investors and hedge funds.

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

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