Zacks: Brokerages Expect Pioneer Natural Resources (NYSE:PXD) to Post $2.23 EPS

Equities analysts predict that Pioneer Natural Resources (NYSE:PXD) will report earnings of $2.23 per share for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Pioneer Natural Resources’ earnings. The lowest EPS estimate is $1.88 and the highest is $3.46. Pioneer Natural Resources posted earnings per share of $1.18 during the same quarter last year, which indicates a positive year over year growth rate of 89%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, February 19th.

On average, analysts expect that Pioneer Natural Resources will report full-year earnings of $8.07 per share for the current fiscal year, with EPS estimates ranging from $7.71 to $9.30. For the next fiscal year, analysts anticipate that the firm will report earnings of $9.69 per share, with EPS estimates ranging from $8.60 to $11.93. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Pioneer Natural Resources.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Monday, November 4th. The oil and gas development company reported $1.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.02 by ($0.03). The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Pioneer Natural Resources had a return on equity of 9.86% and a net margin of 7.88%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 EPS.

Several equities analysts have commented on the stock. Howard Weil assumed coverage on shares of Pioneer Natural Resources in a research report on Wednesday, November 13th. They issued a “sector perform” rating for the company. Raymond James raised their price target on shares of Pioneer Natural Resources from $180.00 to $200.00 and gave the company a “strong-buy” rating in a research report on Friday. Mizuho raised shares of Pioneer Natural Resources from a “neutral” rating to a “buy” rating and set a $191.00 price target for the company in a research report on Thursday, October 10th. Citigroup reissued a “buy” rating and issued a $175.00 price target (up previously from $173.00) on shares of Pioneer Natural Resources in a research report on Wednesday, November 13th. Finally, Williams Capital reissued a “buy” rating and issued a $190.00 price target on shares of Pioneer Natural Resources in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $179.73.

In other news, EVP Mark Stephen Berg sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $133.90, for a total value of $267,800.00. Also, CAO Margaret Montemayor sold 1,200 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $133.90, for a total transaction of $160,680.00. Insiders sold a total of 8,323 shares of company stock worth $1,173,258 over the last 90 days. Company insiders own 0.91% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Pioneer Natural Resources by 35.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,623,503 shares of the oil and gas development company’s stock worth $1,788,392,000 after acquiring an additional 3,032,727 shares in the last quarter. BlackRock Inc. raised its stake in Pioneer Natural Resources by 9.6% during the 2nd quarter. BlackRock Inc. now owns 11,490,193 shares of the oil and gas development company’s stock worth $1,767,880,000 after acquiring an additional 1,008,677 shares in the last quarter. State Street Corp raised its stake in Pioneer Natural Resources by 1.1% during the 3rd quarter. State Street Corp now owns 8,099,693 shares of the oil and gas development company’s stock worth $1,022,259,000 after acquiring an additional 85,771 shares in the last quarter. Primecap Management Co. CA raised its stake in Pioneer Natural Resources by 203.6% during the 2nd quarter. Primecap Management Co. CA now owns 4,150,495 shares of the oil and gas development company’s stock worth $638,595,000 after acquiring an additional 2,783,199 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Pioneer Natural Resources by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,987,197 shares of the oil and gas development company’s stock worth $375,700,000 after acquiring an additional 119,852 shares in the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.

PXD stock traded down $6.64 during midday trading on Monday, hitting $135.39. The company’s stock had a trading volume of 1,652,105 shares, compared to its average volume of 1,629,870. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.17. Pioneer Natural Resources has a 52-week low of $114.79 and a 52-week high of $178.22. The firm has a market capitalization of $23.53 billion, a P/E ratio of 31.34, a PEG ratio of 0.87 and a beta of 1.27. The firm has a 50-day simple moving average of $147.14 and a 200-day simple moving average of $134.37.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.30%. Pioneer Natural Resources’s payout ratio is 27.89%.

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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