Pioneer Natural Resources (NYSE:PXD) – Investment analysts at Piper Jaffray Companies cut their FY2019 EPS estimates for Pioneer Natural Resources in a research report issued on Monday, November 4th. Piper Jaffray Companies analyst R. Todd now forecasts that the oil and gas development company will post earnings of $7.49 per share for the year, down from their prior estimate of $7.74. Piper Jaffray Companies has a “Buy” rating and a $202.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Pioneer Natural Resources’ Q4 2019 earnings at $1.65 EPS, Q1 2020 earnings at $1.66 EPS, Q2 2020 earnings at $1.63 EPS, FY2020 earnings at $6.79 EPS and FY2021 earnings at $8.34 EPS.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Monday, November 4th. The oil and gas development company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.03). Pioneer Natural Resources had a net margin of 9.65% and a return on equity of 10.04%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company earned $2.07 earnings per share. Pioneer Natural Resources’s revenue was down 6.1% on a year-over-year basis.
Several other research firms have also commented on PXD. Royal Bank of Canada reaffirmed a “buy” rating and issued a $190.00 price target on shares of Pioneer Natural Resources in a report on Sunday, August 11th. ValuEngine lowered shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Wells Fargo & Co upped their price target on shares of Pioneer Natural Resources from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Raymond James lowered their price target on shares of Pioneer Natural Resources from $220.00 to $180.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 17th. Finally, SunTrust Banks lowered their price target on shares of Pioneer Natural Resources to $130.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Pioneer Natural Resources has a consensus rating of “Buy” and a consensus price target of $186.97.
NYSE:PXD opened at $133.57 on Wednesday. Pioneer Natural Resources has a one year low of $114.79 and a one year high of $178.22. 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 has a market cap of $22.38 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 0.93 and a beta of 1.14. The firm’s fifty day moving average is $128.57 and its two-hundred day moving average is $138.76.
Several hedge funds have recently bought and sold shares of the company. Berman Capital Advisors LLC raised its position in shares of Pioneer Natural Resources by 64.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the oil and gas development company’s stock worth $34,000 after purchasing an additional 87 shares during the last quarter. Parallax Volatility Advisers L.P. raised its position in shares of Pioneer Natural Resources by 1,606.7% during the 2nd quarter. Parallax Volatility Advisers L.P. now owns 256 shares of the oil and gas development company’s stock worth $39,000 after purchasing an additional 241 shares during the last quarter. HM Payson & Co. acquired a new position in shares of Pioneer Natural Resources during the 2nd quarter worth about $53,000. Venturi Wealth Management LLC acquired a new position in shares of Pioneer Natural Resources during the 3rd quarter worth about $53,000. Finally, Foresters Asset Management Inc. raised its position in shares of Pioneer Natural Resources by 35.7% during the 2nd quarter. Foresters Asset Management Inc. now owns 380 shares of the oil and gas development company’s stock worth $58,000 after purchasing an additional 100 shares during the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director J Kenneth Thompson bought 500 shares of the stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average cost of $121.01 per share, with a total value of $60,505.00. Following the purchase, the director now directly owns 13,024 shares in the company, valued at approximately $1,576,034.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Chris J. Cheatwood sold 5,619 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $140.35, for a total transaction of $788,626.65. Following the sale, the executive vice president now directly owns 39,027 shares in the company, valued at $5,477,439.45. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.32%. Pioneer Natural Resources’s payout ratio is currently 13.95%.
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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