Zacks: Brokerages Anticipate Pioneer Natural Resources (NYSE:PXD) to Announce $2.25 Earnings Per Share

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Brokerages predict that Pioneer Natural Resources (NYSE:PXD) will announce earnings of $2.25 per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Pioneer Natural Resources’ earnings, with the highest EPS estimate coming in at $2.91 and the lowest estimate coming in at $1.55. Pioneer Natural Resources posted earnings per share of $2.07 in the same quarter last year, which suggests a positive year over year growth rate of 8.7%. The business is expected to announce its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that Pioneer Natural Resources will report full-year earnings of $8.43 per share for the current financial year, with EPS estimates ranging from $6.68 to $9.62. For the next fiscal year, analysts anticipate that the company will post earnings of $10.58 per share, with EPS estimates ranging from $7.33 to $21.98. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Pioneer Natural Resources.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.13. Pioneer Natural Resources had a return on equity of 10.04% and a net margin of 9.65%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the business posted $1.41 earnings per share. The firm’s revenue was down 8.9% compared to the same quarter last year.

A number of brokerages have commented on PXD. Royal Bank of Canada restated a “buy” rating and set a $190.00 price target on shares of Pioneer Natural Resources in a research note on Sunday. TD Securities cut their price target on shares of Pioneer Natural Resources from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Imperial Capital cut their price target 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. Wells Fargo & Co lifted their target price on shares of Pioneer Natural Resources from $182.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday. Finally, ValuEngine cut shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $196.01.

Shares of NYSE PXD traded down $2.77 during mid-day trading on Wednesday, hitting $123.99. The company had a trading volume of 488,649 shares, compared to its average volume of 1,827,203. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.76 and a current ratio of 0.86. The firm’s 50-day moving average price is $138.60. Pioneer Natural Resources has a 12 month low of $114.79 and a 12 month high of $189.78. The company has a market cap of $21.62 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 0.70 and a beta of 1.08.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 27th will be issued a $0.44 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.16. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 10.14%.

Several institutional investors have recently modified their holdings of the stock. Creative Planning increased its holdings in shares of Pioneer Natural Resources by 0.8% in the first quarter. Creative Planning now owns 7,227 shares of the oil and gas development company’s stock valued at $1,101,000 after purchasing an additional 59 shares in the last quarter. Avestar Capital LLC increased its holdings in shares of Pioneer Natural Resources by 15.6% in the first quarter. Avestar Capital LLC now owns 496 shares of the oil and gas development company’s stock valued at $55,000 after purchasing an additional 67 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its holdings in shares of Pioneer Natural Resources by 1.2% in the second quarter. Beese Fulmer Investment Management Inc. now owns 6,920 shares of the oil and gas development company’s stock valued at $1,065,000 after purchasing an additional 80 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Pioneer Natural Resources by 6.0% in the second quarter. Cetera Advisors LLC now owns 1,491 shares of the oil and gas development company’s stock valued at $228,000 after purchasing an additional 84 shares in the last quarter. Finally, Berman Capital Advisors LLC increased its holdings in shares of Pioneer Natural Resources by 64.9% in the second quarter. Berman Capital Advisors LLC now owns 221 shares of the oil and gas development company’s stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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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