Pioneer Natural Resources Co. (PXD) to Post Q3 2016 Earnings of $0.15 Per Share, Williams Capital Forecasts
Pioneer Natural Resources Co. (NYSE:PXD) – Analysts at Williams Capital reduced their Q3 2016 EPS estimates for shares of Pioneer Natural Resources in a research note issued to investors on Monday. Williams Capital analyst G. Sorbara now anticipates that the brokerage will earn $0.15 per share for the quarter, down from their prior forecast of $0.17. Williams Capital has a “Buy” rating and a $217.00 price objective on the stock. Williams Capital also issued estimates for Pioneer Natural Resources’ FY2017 earnings at $1.22 EPS and FY2018 earnings at $5.52 EPS.
PXD has been the topic of several other research reports. KeyCorp lifted their target price on Pioneer Natural Resources from $190.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, August 22nd. Credit Suisse Group AG reissued an “outperform” rating and set a $212.00 target price (up previously from $182.25) on shares of Pioneer Natural Resources in a research note on Wednesday, August 24th. Wunderlich lifted their price objective on Pioneer Natural Resources from $182.00 to $207.00 and gave the stock a “buy” rating in a research note on Monday, October 10th. Mizuho initiated coverage on Pioneer Natural Resources in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $196.00 price objective on the stock. Finally, KLR Group reaffirmed a “buy” rating and issued a $238.00 price objective (up previously from $218.00) on shares of Pioneer Natural Resources in a research note on Sunday, July 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $179.66.
Shares of Pioneer Natural Resources (NYSE:PXD) opened at 184.03 on Tuesday. Pioneer Natural Resources has a 1-year low of $103.50 and a 1-year high of $193.39. The stock’s 50 day moving average price is $182.68 and its 200-day moving average price is $165.74. The stock’s market cap is $31.21 billion.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Wednesday, July 27th. The oil and gas development company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.12. The company earned $786 million during the quarter, compared to analyst estimates of $797.28 million. Pioneer Natural Resources had a negative return on equity of 1.79% and a negative net margin of 10.75%. Pioneer Natural Resources’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PXD. Lazard Asset Management LLC increased its position in Pioneer Natural Resources by 240.8% in the first quarter. Lazard Asset Management LLC now owns 1,542,686 shares of the oil and gas development company’s stock worth $217,116,000 after buying an additional 1,089,989 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Pioneer Natural Resources during the first quarter worth $433,000. Rafferty Asset Management LLC acquired a new position in Pioneer Natural Resources during the first quarter worth $1,105,000. State Street Corp increased its position in Pioneer Natural Resources by 11.7% in the first quarter. State Street Corp now owns 9,717,623 shares of the oil and gas development company’s stock worth $1,367,654,000 after buying an additional 1,017,873 shares in the last quarter. Finally, BB&T Securities LLC acquired a new position in Pioneer Natural Resources during the first quarter worth $245,000. Institutional investors and hedge funds own 93.53% of the company’s stock.
In other news, COO Timothy L. Dove sold 57,363 shares of the firm’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $176.29, for a total transaction of $10,112,523.27. Following the transaction, the chief operating officer now owns 289,693 shares in the company, valued at approximately $51,069,978.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank A. Risch sold 500 shares of the firm’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $185.08, for a total transaction of $92,540.00. Following the transaction, the director now owns 11,156 shares in the company, valued at approximately $2,064,752.48. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 12th. Stockholders of record on Friday, September 30th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.09%. Pioneer Natural Resources’s dividend payout ratio is currently -2.52%.
Pioneer Natural Resources Company Profile
Pioneer Natural Resources Company is an independent oil and gas exploration and production company with operations in the United States. The Company operates through the oil and gas development, exploration and production segment. The Company focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties.
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