Pioneer Natural Resources (NYSE:PXD) – Equities researchers at SunTrust Banks boosted their Q2 2020 earnings per share estimates for shares of Pioneer Natural Resources in a research note issued to investors on Thursday, June 25th. SunTrust Banks analyst N. Dingmann now expects that the oil and gas development company will post earnings of ($0.23) per share for the quarter, up from their previous estimate of ($0.58). SunTrust Banks has a “Buy” rating and a $120.00 price objective on the stock. SunTrust Banks also issued estimates for Pioneer Natural Resources’ Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $0.14 EPS, FY2020 earnings at $1.10 EPS, Q1 2021 earnings at $0.39 EPS, Q2 2021 earnings at $0.42 EPS, Q3 2021 earnings at $0.64 EPS, Q4 2021 earnings at $0.76 EPS and FY2021 earnings at $2.22 EPS.
A number of other research analysts have also weighed in on the company. TD Securities raised their target price on Pioneer Natural Resources from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Wells Fargo & Co lifted their price target on Pioneer Natural Resources from $114.00 to $116.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Mizuho lifted their price target on Pioneer Natural Resources from $119.00 to $137.00 in a report on Friday, June 19th. ValuEngine upgraded Pioneer Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Raymond James lowered Pioneer Natural Resources from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $180.00 to $110.00 in a report on Tuesday, March 17th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $124.52.
Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Wednesday, May 6th. The oil and gas development company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.12. Pioneer Natural Resources had a return on equity of 10.46% and a net margin of 7.60%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the company earned $1.83 earnings per share. The company’s revenue for the quarter was down 6.5% on a year-over-year basis.
A number of institutional investors have recently bought and sold shares of PXD. Orion Portfolio Solutions LLC purchased a new position in Pioneer Natural Resources during the fourth quarter worth about $25,000. Ancora Advisors LLC bought a new stake in Pioneer Natural Resources during the fourth quarter worth about $28,000. Cornerstone Advisors Inc. lifted its stake in Pioneer Natural Resources by 141.7% during the first quarter. Cornerstone Advisors Inc. now owns 435 shares of the oil and gas development company’s stock worth $31,000 after purchasing an additional 255 shares during the last quarter. Edge Wealth Management LLC bought a new stake in Pioneer Natural Resources during the first quarter worth about $34,000. Finally, Private Capital Group LLC lifted its stake in Pioneer Natural Resources by 2,228.0% during the first quarter. Private Capital Group LLC now owns 582 shares of the oil and gas development company’s stock worth $41,000 after purchasing an additional 557 shares during the last quarter. Institutional investors and hedge funds own 89.26% of the company’s stock.
In other news, CAO Margaret Montemayor sold 1,628 shares of Pioneer Natural Resources stock in a transaction on Friday, June 5th. The stock was sold at an average price of $109.92, for a total value of $178,949.76. Following the completion of the transaction, the chief accounting officer now directly owns 8,157 shares in the company, valued at $896,617.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stephanie D. Stewart sold 600 shares of Pioneer Natural Resources stock in a transaction on Friday, June 5th. The shares were sold at an average price of $110.13, for a total value of $66,078.00. Following the completion of the transaction, the vice president now owns 16,026 shares of the company’s stock, valued at $1,764,943.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,090 shares of company stock valued at $1,822,121. 0.91% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, June 29th. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 13.45%.
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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