SunTrust Banks Research Analysts Cut Earnings Estimates for Pioneer Natural Resources (NYSE:PXD)
Pioneer Natural Resources (NYSE:PXD) – SunTrust Banks decreased their Q2 2019 earnings estimates for Pioneer Natural Resources in a report issued on Monday, July 8th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas development company will post earnings per share of $2.18 for the quarter, down from their prior forecast of $2.25. SunTrust Banks currently has a “Hold” rating and a $160.00 price target on the stock. SunTrust Banks also issued estimates for Pioneer Natural Resources’ Q4 2019 earnings at $2.42 EPS, FY2019 earnings at $8.51 EPS and FY2021 earnings at $11.98 EPS.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Monday, May 6th. The oil and gas development company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Pioneer Natural Resources had a net margin of 11.89% and a return on equity of 9.31%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $0.92 earnings per share.
NYSE:PXD opened at $144.29 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.99 and a quick ratio of 0.89. The firm has a market capitalization of $24.69 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09. The business has a fifty day moving average of $146.81. Pioneer Natural Resources has a 12 month low of $119.08 and a 12 month high of $193.03.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Partners raised its position in Pioneer Natural Resources by 28.8% in the first quarter. Boston Partners now owns 3,596,532 shares of the oil and gas development company’s stock worth $547,679,000 after acquiring an additional 804,760 shares during the period. Clearbridge Investments LLC raised its position in Pioneer Natural Resources by 11.7% in the first quarter. Clearbridge Investments LLC now owns 3,177,174 shares of the oil and gas development company’s stock worth $483,820,000 after acquiring an additional 334,024 shares during the period. Northern Trust Corp raised its position in Pioneer Natural Resources by 0.8% in the first quarter. Northern Trust Corp now owns 2,064,867 shares of the oil and gas development company’s stock worth $314,438,000 after acquiring an additional 15,675 shares during the period. Geode Capital Management LLC raised its position in Pioneer Natural Resources by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 1,972,086 shares of the oil and gas development company’s stock worth $258,857,000 after acquiring an additional 113,932 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Pioneer Natural Resources by 7.6% in the first quarter. Neuberger Berman Group LLC now owns 1,943,992 shares of the oil and gas development company’s stock worth $296,031,000 after acquiring an additional 137,181 shares during the period. 87.82% of the stock is currently owned by institutional investors.
In related news, CAO Margaret Montemayor sold 888 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $153.38, for a total transaction of $136,201.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.91% of the stock is owned by company insiders.
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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