AUSTIN, Texas (AP) _ Parsley Energy Inc. (PE) on Wednesday reported a fourth-quarter loss of $ 15.2 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 14 cents. Losses, adjusted for non-recurring costs, came to 2 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The independent oil and gas company posted revenue of $ 68.8 million in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $ 80.3 million.
For the year, the company reported a loss of $ 50.5 million, or 45 cents per share, swinging to a loss in the period. Revenue was reported as $ 266.1 million.
Parsley Energy shares have declined 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $ 16.55, a climb of 4 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 http://www.zacks.com/ap/PE
Keywords: Parsley Energy, Earnings Report