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Parsley Energy reports 4Q loss

AUSTIN, Texas (AP) _ Parsley Energy Inc. (PE) on Thursday reported a loss of $30.7 million in its fourth quarter.

The Austin, Texas-based company said it had a loss of 17 cents per share. Earnings, adjusted for non-recurring costs, were 6 cents per share.

The results fell short of Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The independent oil and gas company posted revenue of $155.9 million in the period, also missing Street forecasts. Eleven analysts surveyed by Zacks expected $156.7 million.

For the year, the company reported that its loss widened to $74.2 million, or 46 cents per share. Revenue was reported as $457.8 million.

Parsley Energy shares have dropped 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $30, a climb of 88 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PE at https://www.zacks.com/ap/PE


Keywords: Parsley Energy, Earnings Report