Parsley Energy: 4Q Earnings Snapshot

AUSTIN, Texas (AP) _ Parsley Energy Inc. (PE) on Wednesday reported a fourth-quarter loss of $36.4 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Austin, Texas-based company said it had a loss of 13 cents. Earnings, adjusted for non-recurring costs, came to 28 cents per share.

The results did not meet Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The independent oil and gas company posted revenue of $522.5 million in the period, exceeding Street forecasts. Eight analysts surveyed by Zacks expected $507.2 million.

For the year, the company reported profit of $175.2 million, or 63 cents per share. Revenue was reported as $1.96 billion.

Parsley Energy shares have declined almost 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.22, a drop of 8.5% 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