Stock Monitor: Contango Oil & Gas Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 04, 2018 / Active-Investors.com has just released a free earnings report on Parsley Energy, Inc. (NYSE: PE) ("Parsley"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PE. The Company reported its financial results on February 21, 2018, for the fourth quarter and full fiscal year ended December 31, 2017. The Company surpassed analysts' estimates for earnings as well as revenues for Q4 FY17. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Contango Oil & Gas Company (NYSE AMER: MCF), which also belongs to the Basic Materials sector as the Company Parsley Energy. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=MCF

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Parsley Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=PE

Earnings Highlights and Summary

During Q4 FY17, Parsley's total revenues reached $311.49 million, an increase of 99.38% from $155.88 million in Q4 FY16. The Company's revenue numbers exceeded analysts' consensus estimates of $298.4 million. The Company's oil sales advanced 94.43% to $255.55 million y-o-y; its natural gas sales increased 39.9% to $15.52 million y-o-y; and its natural gas liquid (NGL) sales surged 188.94% to $38.9 million y-o-y in Q4 FY17. The Company's net production averaged 80.33 thousand barrels of oil per day (MBoe/d) in Q4 FY17, up 78.07% from 45.11 MBoe/d y-o-y in Q4 FY16. The net oil production increased 68.52% from the previous year's same quarter.

During Q4 FY17, Parsley's total operating expenses were $225.55 million compared to $112.66 million in Q4 FY16, reflecting an increase of 100.2%. This increment in operating expenses were led by soaring production and ad valorem taxes, depreciation, depletion and amortization, and exploration and abandonment costs. The Company's operating income advanced 98.87% to $85.94 million in Q4 FY17 from $43.21 million in Q4 FY16.

Parsley's net income attributable to stockholders was $49.92 million, or $0.16 per diluted share, in Q4 FY17 compared to a net loss attributable to stockholders of $30.75 million, or $0.17 loss per diluted share, in Q4 FY16. Parsley's reported quarter results included loss on derivatives, exploration, and abandonment costs; loss on sales of property; change in TRAI liability; net premium realization on options that settled during the period; and change in estimated income tax. The Company's adjusted diluted earnings per share (EPS) were $0.3 in Q4 FY17, up 400% from $0.06 in Q4 FY16. Parsley's adjusted EPS were higher than analysts' consensus estimates of $0.18.

For the full fiscal year ended December 31, 2017, Parsley's total revenues were $967.04 million, up 111.25% from $457.77 million in FY16. The increase was led by significant increases in oil sales, natural gas sales, and NGL sales. The Company's operating income advanced 756.59% to $266.80 million y-o-y in FY17. Parsley's net income attributable to stockholders was $106.77 million, or $0.42 per diluted share, in the reported year compared to a net loss attributable to stockholders of $74.18 million, or $0.46 per diluted share, in the previous year. The Company's adjusted diluted EPS, excluding special items, was $0.69 in FY17, up 666.67% from $0.09 in FY16.

Cash Matters

Parsley had cash and cash equivalents of $554.19 million as on December 31, 2017, 315.5% higher than $133.38 million as on December 31, 2016. The Company's long-term debt increased 109.30% to $2.18 billion as on December 31, 2017, from $1.04 billion as on December 31, 2016.

For the twelve months ended December 31, 2017, Parsley's net cash flow from operating activities was $694.04 million, 204.15% higher than $228.19 million for the same period of last year.

Parsley spent $1.09 billion on development of oil and natural gas properties and $2.19 billion on acquisitions of oil and natural gas properties in FY17 compared to $505.8 million and $1.35 billion, respectively, in FY16. The Company issued common stock worth $2.12 billion in the reported year compared to $930.32 million in the previous year.

Outlook

Parsley expects its annual net oil production to be in the range of 65 MBo/d - 70 MBo/d and annual net total production to be in the range of 98 MBoe/d - 108 MBoe/d for 2018. The Company anticipates total development expenditure of $1.35 billion to $1.55 billion in 2018.

Stock Performance Snapshot

April 03, 2018 - At Tuesday's closing bell, Parsley Energy's stock slightly climbed 0.86%, ending the trading session at $28.24.

Volume traded for the day: 4.91 million shares.

Stock performance in the last month ? up 10.53%; and previous six-month period ? up 7.21%

After yesterday's close, Parsley Energy's market cap was at $8.37 billion.

Price to Earnings (P/E) ratio was at 114.33.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry. This sector was up 1.5% at the end of the session.

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