Brokerages Anticipate Pioneer Natural Resources Company (PXD) Will Post Quarterly Sales of $1.39 Billion
Analysts expect Pioneer Natural Resources Company (NYSE:PXD) to report sales of $1.39 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Pioneer Natural Resources’ earnings, with estimates ranging from $1.31 billion to $1.46 billion. Pioneer Natural Resources reported sales of $1.19 billion in the same quarter last year, which indicates a positive year over year growth rate of 16.8%. The company is expected to report its next earnings report after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that Pioneer Natural Resources will report full-year sales of $1.39 billion for the current year, with estimates ranging from $5.34 billion to $6.00 billion. For the next financial year, analysts expect that the firm will report sales of $6.47 billion per share, with estimates ranging from $6.07 billion to $7.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Pioneer Natural Resources.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.10. Pioneer Natural Resources had a return on equity of 1.79% and a net margin of 3.10%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned ($0.22) earnings per share. The business’s revenue was up 107.4% on a year-over-year basis.
PXD has been the subject of several research reports. Citigroup Inc. reduced their price objective on Pioneer Natural Resources from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Cowen and Company set a $210.00 price objective on Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Stifel Nicolaus reissued a “buy” rating and set a $268.00 price objective on shares of Pioneer Natural Resources in a research note on Friday, July 14th. Scotiabank set a $210.00 price objective on Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Saturday, July 1st. Finally, Royal Bank Of Canada set a $233.00 price objective on Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $204.40.
Shares of Pioneer Natural Resources (NYSE:PXD) opened at 129.92 on Wednesday. The stock has a market capitalization of $22.10 billion, a P/E ratio of 131.10 and a beta of 0.94. Pioneer Natural Resources has a 12 month low of $125.46 and a 12 month high of $199.83. The stock has a 50 day moving average price of $137.98 and a 200 day moving average price of $164.34.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.12%. Pioneer Natural Resources’s payout ratio is 8.16%.
In related news, Director Andrew F. Cates bought 350 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $135.37 per share, for a total transaction of $47,379.50. Following the completion of the acquisition, the director now directly owns 14,556 shares in the company, valued at $1,970,445.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Kenneth Thompson bought 750 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average price of $133.40 per share, for a total transaction of $100,050.00. Following the completion of the acquisition, the director now owns 10,865 shares of the company’s stock, valued at $1,449,391. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,200 shares of company stock valued at $161,102. Insiders own 0.89% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PXD. GWM Advisors LLC bought a new position in Pioneer Natural Resources during the second quarter valued at about $100,000. Commonwealth Bank of Australia raised its holdings in Pioneer Natural Resources by 10.8% during the second quarter. Commonwealth Bank of Australia now owns 690 shares of the oil and gas development company’s stock valued at $108,000 after buying an additional 67 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in Pioneer Natural Resources during the second quarter valued at about $120,000. Morgan Dempsey Capital Management LLC raised its holdings in Pioneer Natural Resources by 3.4% during the first quarter. Morgan Dempsey Capital Management LLC now owns 792 shares of the oil and gas development company’s stock valued at $147,000 after buying an additional 26 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in Pioneer Natural Resources during the first quarter valued at about $172,000. Institutional investors own 91.58% of the company’s stock.
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Pioneer Natural Resources Company Profile
Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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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