$2.43 Billion in Sales Expected for Pioneer Natural Resources (PXD) This Quarter

Brokerages expect Pioneer Natural Resources (NYSE:PXD) to report $2.43 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Pioneer Natural Resources’ earnings, with the lowest sales estimate coming in at $2.26 billion and the highest estimate coming in at $2.52 billion. Pioneer Natural Resources posted sales of $2.11 billion in the same quarter last year, which suggests a positive year over year growth rate of 15.2%. The business is scheduled to report its next earnings report after the market closes on Tuesday, August 6th.

On average, analysts expect that Pioneer Natural Resources will report full year sales of $10.02 billion for the current fiscal year, with estimates ranging from $9.61 billion to $10.62 billion. For the next fiscal year, analysts expect that the business will post sales of $11.41 billion, with estimates ranging from $10.32 billion to $14.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Pioneer Natural Resources.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Monday, May 6th. The oil and gas development company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.61 by $0.22. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.19 billion. Pioneer Natural Resources had a net margin of 11.89% and a return on equity of 9.31%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share.



Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Pioneer Natural Resources from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. S&P Equity Research reiterated an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of Pioneer Natural Resources in a research note on Wednesday, May 8th. Imperial Capital reduced their target price on shares of Pioneer Natural Resources from $200.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. ValuEngine downgraded shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, TheStreet upgraded shares of Pioneer Natural Resources from a “c+” rating to a “b-” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $205.68.

In related news, CAO Margaret Montemayor sold 888 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.38, for a total transaction of $136,201.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.91% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of PXD. Motco grew its stake in Pioneer Natural Resources by 2,542.9% in the 1st quarter. Motco now owns 185 shares of the oil and gas development company’s stock worth $28,000 after buying an additional 178 shares in the last quarter. Global Retirement Partners LLC grew its stake in Pioneer Natural Resources by 224.6% in the 1st quarter. Global Retirement Partners LLC now owns 198 shares of the oil and gas development company’s stock worth $30,000 after buying an additional 137 shares in the last quarter. Lindbrook Capital LLC purchased a new position in Pioneer Natural Resources in the 4th quarter worth approximately $31,000. Executive Wealth Management LLC purchased a new position in Pioneer Natural Resources in the 4th quarter worth approximately $38,000. Finally, Canton Hathaway LLC purchased a new position in Pioneer Natural Resources in the 1st quarter worth approximately $38,000. 87.77% of the stock is owned by institutional investors.

PXD stock traded up $1.42 during mid-day trading on Friday, hitting $147.00. The company had a trading volume of 1,339,438 shares, compared to its average volume of 1,989,264. The firm has a market cap of $24.52 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 0.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.99. Pioneer Natural Resources has a 12 month low of $119.08 and a 12 month high of $201.63.

Pioneer Natural Resources Company Profile

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado, and the West Panhandle field in the Texas Panhandle.

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Earnings History and Estimates for Pioneer Natural Resources (NYSE:PXD)

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