Parsley Energy: 3Q Earnings Snapshot

AUSTIN, Texas (AP) _ Parsley Energy Inc. (PE) on Wednesday reported third-quarter profit of $22.6 million. The Austin, Texas-based company said it had net income of 6 cents per share. Earnings, adjusted for non-recurring costs, came to 22 cents per share. The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share. The independent oil and gas company posted revenue of $447.4 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $440.6 million. Parsley Energy shares have fallen 47% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.93, a fall of 39% in the last 12 months. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on PE at

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