Q2 2020 EPS Estimates for Pioneer Natural Resources Lifted by Analyst (NYSE:PXD)

Pioneer Natural Resources (NYSE:PXD) – Equities research analysts at SunTrust Banks raised their Q2 2020 earnings per share estimates for Pioneer Natural Resources in a note issued to investors on Thursday, June 25th. SunTrust Banks analyst N. Dingmann now expects that the oil and gas development company will post earnings per share of ($0.23) for the quarter, up from their previous estimate of ($0.58). SunTrust Banks has a “Buy” rating and a $120.00 price target on the stock. SunTrust Banks also issued estimates for Pioneer Natural Resources’ Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $0.14 EPS, FY2020 earnings at $1.10 EPS, Q1 2021 earnings at $0.39 EPS, Q2 2021 earnings at $0.42 EPS, Q3 2021 earnings at $0.64 EPS, Q4 2021 earnings at $0.76 EPS and FY2021 earnings at $2.22 EPS.

Several other research firms have also issued reports on PXD. Wells Fargo & Co increased their price objective on Pioneer Natural Resources from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. UBS Group increased their price objective on Pioneer Natural Resources from $109.00 to $173.00 and gave the stock a “buy” rating in a research note on Monday. TD Securities increased their price objective on Pioneer Natural Resources from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Piper Sandler lowered Pioneer Natural Resources from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $205.00 to $63.00 in a research note on Tuesday, March 24th. Finally, Raymond James lowered Pioneer Natural Resources from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $180.00 to $110.00 in a research note on Tuesday, March 17th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Pioneer Natural Resources has a consensus rating of “Buy” and an average price target of $124.52.

Shares of NYSE PXD opened at $94.44 on Monday. The business has a fifty day simple moving average of $94.57 and a 200 day simple moving average of $108.94. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 7.76 and a beta of 1.77. Pioneer Natural Resources has a one year low of $48.62 and a one year high of $159.01.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Wednesday, May 6th. The oil and gas development company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.18 billion. Pioneer Natural Resources had a return on equity of 10.46% and a net margin of 7.60%. Pioneer Natural Resources’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share.

A number of institutional investors and hedge funds have recently modified their holdings of PXD. Bank of New York Mellon Corp raised its position in Pioneer Natural Resources by 17.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,683,669 shares of the oil and gas development company’s stock valued at $406,226,000 after buying an additional 397,359 shares during the last quarter. Invesco Ltd. raised its position in Pioneer Natural Resources by 26.2% in the 1st quarter. Invesco Ltd. now owns 1,374,997 shares of the oil and gas development company’s stock valued at $96,454,000 after buying an additional 285,276 shares during the last quarter. AXA raised its position in Pioneer Natural Resources by 6.2% in the 4th quarter. AXA now owns 40,324 shares of the oil and gas development company’s stock valued at $6,104,000 after buying an additional 2,344 shares during the last quarter. FDx Advisors Inc. raised its position in Pioneer Natural Resources by 224.4% in the 1st quarter. FDx Advisors Inc. now owns 9,874 shares of the oil and gas development company’s stock valued at $693,000 after buying an additional 6,830 shares during the last quarter. Finally, AlphaCrest Capital Management LLC raised its position in Pioneer Natural Resources by 32.9% in the 1st quarter. AlphaCrest Capital Management LLC now owns 4,877 shares of the oil and gas development company’s stock valued at $342,000 after buying an additional 1,207 shares during the last quarter. Hedge funds and other institutional investors own 89.26% of the company’s stock.

In related news, EVP Chris J. Cheatwood sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $115.66, for a total value of $809,620.00. Following the transaction, the executive vice president now owns 39,911 shares in the company, valued at $4,616,106.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Stephanie D. Stewart sold 600 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $110.13, for a total value of $66,078.00. Following the completion of the transaction, the vice president now owns 16,026 shares in the company, valued at approximately $1,764,943.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,090 shares of company stock worth $1,822,121. 0.91% of the stock is owned by company insiders.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.33%. The ex-dividend date is Monday, June 29th. Pioneer Natural Resources’s dividend payout ratio is 13.45%.

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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