Zacks: Brokerages Expect Pioneer Natural Resources (PXD) to Post $1.58 Earnings Per Share

Brokerages expect Pioneer Natural Resources (NYSE:PXD) to report $1.58 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Pioneer Natural Resources’ earnings. The lowest EPS estimate is $1.18 and the highest is $2.00. Pioneer Natural Resources reported earnings of $0.21 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 652.4%. The firm is scheduled to report its next quarterly earnings report on Tuesday, August 7th.

According to Zacks, analysts expect that Pioneer Natural Resources will report full-year earnings of $6.74 per share for the current financial year, with EPS estimates ranging from $5.15 to $8.39. For the next fiscal year, analysts anticipate that the firm will post earnings of $9.21 per share, with EPS estimates ranging from $6.79 to $12.48. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Pioneer Natural Resources.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Wednesday, May 2nd. The oil and gas development company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.50 by $0.16. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Pioneer Natural Resources had a return on equity of 5.57% and a net margin of 15.56%. The company’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS.

Several brokerages recently issued reports on PXD. Williams Capital set a $202.00 price objective on Pioneer Natural Resources and gave the stock a “hold” rating in a report on Thursday, May 3rd. TheStreet raised Pioneer Natural Resources from a “c” rating to a “b” rating in a research report on Tuesday, February 6th. Piper Jaffray Companies set a $227.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Wednesday, March 14th. Stifel Nicolaus set a $308.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Tuesday, April 24th. Finally, Credit Suisse Group set a $245.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Pioneer Natural Resources has a consensus rating of “Buy” and an average target price of $218.67.

Shares of PXD traded up $0.25 during mid-day trading on Wednesday, hitting $209.89. The company’s stock had a trading volume of 76,622 shares, compared to its average volume of 1,568,811. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 1.16. The stock has a market capitalization of $35.73 billion, a P/E ratio of 97.27, a P/E/G ratio of 2.36 and a beta of 0.94. Pioneer Natural Resources has a 1-year low of $125.46 and a 1-year high of $213.40.

Pioneer Natural Resources declared that its board has approved a stock buyback program on Tuesday, February 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other Pioneer Natural Resources news, EVP Jerome D. Hall, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $206.73, for a total transaction of $413,460.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Teresa A. Fairbrook sold 2,134 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $180.00, for a total value of $384,120.00. Following the sale, the vice president now owns 10,284 shares in the company, valued at approximately $1,851,120. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,069 shares of company stock worth $14,814,060. Insiders own 0.92% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PXD. BlackRock Inc. grew its holdings in shares of Pioneer Natural Resources by 11.4% during the fourth quarter. BlackRock Inc. now owns 13,552,443 shares of the oil and gas development company’s stock valued at $2,342,540,000 after purchasing an additional 1,389,479 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Pioneer Natural Resources by 7.3% in the fourth quarter. Clearbridge Investments LLC now owns 2,883,327 shares of the oil and gas development company’s stock valued at $498,383,000 after purchasing an additional 195,828 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Pioneer Natural Resources by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,683,875 shares of the oil and gas development company’s stock valued at $463,908,000 after purchasing an additional 329,971 shares in the last quarter. Boston Partners increased its holdings in shares of Pioneer Natural Resources by 12.7% in the first quarter. Boston Partners now owns 2,549,700 shares of the oil and gas development company’s stock valued at $437,987,000 after purchasing an additional 287,344 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Pioneer Natural Resources by 14.8% in the first quarter. Artisan Partners Limited Partnership now owns 2,250,210 shares of the oil and gas development company’s stock valued at $386,541,000 after purchasing an additional 290,908 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

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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Earnings History and Estimates for Pioneer Natural Resources (NYSE:PXD)

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