Pioneer Natural Resources Company (PXD) Expected to Post Quarterly Sales of $1.39 Billion
Brokerages predict that Pioneer Natural Resources Company (NYSE:PXD) will post sales of $1.39 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Pioneer Natural Resources’ earnings. The highest sales estimate is $1.46 billion and the lowest is $1.31 billion. Pioneer Natural Resources reported sales of $1.19 billion in the same quarter last year, which would suggest a positive year over year growth rate of 16.8%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, November 1st.
On average, 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 fiscal year, analysts anticipate that the business will report sales of $6.45 billion per share, with estimates ranging from $6.07 billion to $7.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Pioneer Natural Resources.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.10. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The business’s revenue for the quarter was up 107.4% on a year-over-year basis.
PXD has been the topic of a number of research analyst reports. Scotiabank set a $210.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Saturday, July 1st. Royal Bank Of Canada set a $233.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Saturday, June 17th. Jefferies Group LLC set a $243.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Wednesday, May 17th. Credit Suisse Group reissued a “buy” rating on shares of Pioneer Natural Resources in a report on Monday, May 15th. Finally, KLR Group raised their price objective on shares of Pioneer Natural Resources from $234.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the stock. Pioneer Natural Resources currently has an average rating of “Buy” and an average target price of $208.00.
Pioneer Natural Resources (NYSE:PXD) traded down 1.52% during midday trading on Friday, hitting $127.24. 543,352 shares of the stock were exchanged. The firm’s 50 day moving average price is $147.17 and its 200 day moving average price is $169.06. Pioneer Natural Resources has a 12 month low of $125.93 and a 12 month high of $199.83. The company has a market cap of $21.64 billion, a PE ratio of 128.40 and a beta of 0.91.
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 $0.04 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.12%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 8.16%.
In related news, Director J Kenneth Thompson bought 750 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average cost of $133.40 per share, for a total transaction of $100,050.00. Following the transaction, the director now owns 10,865 shares of the company’s stock, valued at $1,449,391. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew F. Cates bought 350 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of $135.37 per share, for a total transaction of $47,379.50. Following the completion of the transaction, the director now directly owns 14,556 shares in the company, valued at approximately $1,970,445.72. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 1,200 shares of company stock worth $161,102. 0.89% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. GWM Advisors LLC bought a new stake in shares of Pioneer Natural Resources during the second quarter valued at approximately $100,000. Coconut Grove Bank raised its stake in shares of Pioneer Natural Resources by 103.7% in the first quarter. Coconut Grove Bank now owns 552 shares of the oil and gas development company’s stock valued at $103,000 after buying an additional 281 shares during the last quarter. Commonwealth Bank of Australia raised its stake in shares of Pioneer Natural Resources by 10.8% in 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 during the last quarter. Winch Advisory Services LLC bought a new stake in shares of Pioneer Natural Resources during the first quarter valued at approximately $112,000. Finally, BDO Wealth Advisors LLC bought a new stake in shares of Pioneer Natural Resources during the second quarter valued at approximately $120,000. Institutional investors own 91.59% of the company’s stock.
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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