$1.99 Earnings Per Share Expected for Pioneer Natural Resources (PXD) This Quarter

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Analysts expect that Pioneer Natural Resources (NYSE:PXD) will post earnings per share of $1.99 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Pioneer Natural Resources’ earnings, with the highest EPS estimate coming in at $3.07 and the lowest estimate coming in at $1.51. Pioneer Natural Resources reported earnings of $1.22 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 63.1%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, February 13th.

According to Zacks, analysts expect that Pioneer Natural Resources will report full year earnings of $7.13 per share for the current year, with EPS estimates ranging from $6.66 to $8.23. For the next fiscal year, analysts forecast that the firm will report earnings of $8.81 per share, with EPS estimates ranging from $5.75 to $12.54. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Pioneer Natural Resources.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Tuesday, November 6th. The oil and gas development company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.69 by $0.38. Pioneer Natural Resources had a return on equity of 9.47% and a net margin of 15.98%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue for the quarter was up 112.2% compared to the same quarter last year.

Several equities analysts recently issued reports on PXD shares. Morgan Stanley reissued a “buy” rating and issued a $234.00 target price (down from $240.00) on shares of Pioneer Natural Resources in a research report on Friday, October 12th. Seaport Global Securities downgraded Pioneer Natural Resources from a “buy” rating to a “neutral” rating and cut their target price for the company from $230.00 to $210.00 in a research report on Wednesday, October 10th. Ifs Securities raised Pioneer Natural Resources from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, November 14th. Piper Jaffray Companies initiated coverage on Pioneer Natural Resources in a research report on Friday, September 28th. They set an “overweight” rating on the stock. Finally, Stephens initiated coverage on Pioneer Natural Resources in a research report on Thursday, December 6th. They set an “overweight” rating and a $270.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. Pioneer Natural Resources presently has an average rating of “Buy” and a consensus price target of $229.43.

In related news, CEO Timothy L. Dove sold 4,800 shares of the firm’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $134.18, for a total value of $644,064.00. Following the transaction, the chief executive officer now directly owns 276,901 shares of the company’s stock, valued at approximately $37,154,576.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew F. Cates purchased 790 shares of the firm’s stock in a transaction that occurred on Thursday, December 27th. The stock was bought at an average cost of $124.27 per share, for a total transaction of $98,173.30. Following the completion of the purchase, the director now directly owns 13,370 shares in the company, valued at approximately $1,661,489.90. The disclosure for this purchase can be found here. Company insiders own 0.92% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new position in Pioneer Natural Resources in the 4th quarter worth approximately $76,000. Quadrant Capital Group LLC lifted its stake in Pioneer Natural Resources by 23.2% in the 4th quarter. Quadrant Capital Group LLC now owns 722 shares of the oil and gas development company’s stock worth $86,000 after purchasing an additional 136 shares in the last quarter. Kiley Juergens Wealth Management LLC lifted its stake in Pioneer Natural Resources by 159.5% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 768 shares of the oil and gas development company’s stock worth $133,000 after purchasing an additional 472 shares in the last quarter. Banco de Sabadell S.A lifted its stake in Pioneer Natural Resources by 100.0% in the 3rd quarter. Banco de Sabadell S.A now owns 1,000 shares of the oil and gas development company’s stock worth $173,000 after purchasing an additional 500 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Pioneer Natural Resources in the 3rd quarter worth approximately $227,000. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE PXD traded up $1.63 during mid-day trading on Friday, hitting $144.90. The stock had a trading volume of 1,530,169 shares, compared to its average volume of 1,701,441. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.20 and a quick ratio of 1.07. Pioneer Natural Resources has a twelve month low of $119.08 and a twelve month high of $213.40. The company has a market cap of $24.70 billion, a price-to-earnings ratio of 67.08, a PEG ratio of 1.35 and a beta of 1.10.

Pioneer Natural Resources declared that its Board of Directors has authorized a share buyback plan on Thursday, December 13th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas development company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About Pioneer Natural Resources

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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