Pioneer Natural Resources Forecasted to Earn Q4 2017 Earnings of $0.49 Per Share (PXD)
Pioneer Natural Resources (NYSE:PXD) – Research analysts at Capital One Financial increased their Q4 2017 earnings per share estimates for shares of Pioneer Natural Resources in a report released on Friday. Capital One Financial analyst P. Johnston now anticipates that the oil and gas development company will post earnings per share of $0.49 for the quarter, up from their prior forecast of $0.42. Capital One Financial also issued estimates for Pioneer Natural Resources’ FY2018 earnings at $2.30 EPS.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas development company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.18. Pioneer Natural Resources had a net margin of 2.17% and a return on equity of 2.34%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $0.13 EPS. The company’s revenue for the quarter was up 23.1% on a year-over-year basis.
Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a report on Wednesday, October 11th. BMO Capital Markets set a $200.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Tuesday, October 10th. Jefferies Group reissued a “buy” rating and issued a $180.00 price target on shares of Pioneer Natural Resources in a research note on Tuesday, October 10th. Stifel Nicolaus set a $248.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Mizuho reissued a “buy” rating and issued a $196.00 price target on shares of Pioneer Natural Resources in a research note on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $192.27.
Pioneer Natural Resources (PXD) traded up $2.87 during mid-day trading on Monday, reaching $173.99. 1,406,400 shares of the company’s stock were exchanged, compared to its average volume of 1,822,673. The firm has a market cap of $29,118.69, a P/E ratio of 241.65, a price-to-earnings-growth ratio of 10.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.58 and a current ratio of 1.69. Pioneer Natural Resources has a 12 month low of $125.46 and a 12 month high of $199.83.
A number of hedge funds have recently modified their holdings of PXD. Capital World Investors boosted its position in Pioneer Natural Resources by 45.4% in the 2nd quarter. Capital World Investors now owns 8,005,002 shares of the oil and gas development company’s stock valued at $1,277,438,000 after buying an additional 2,500,000 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Pioneer Natural Resources by 706.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,006,435 shares of the oil and gas development company’s stock valued at $319,475,000 after purchasing an additional 1,757,576 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Pioneer Natural Resources by 2,357.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 739,763 shares of the oil and gas development company’s stock valued at $109,145,000 after purchasing an additional 709,663 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Pioneer Natural Resources by 1,138.7% in the 2nd quarter. Janus Henderson Group PLC now owns 577,107 shares of the oil and gas development company’s stock valued at $92,095,000 after purchasing an additional 530,517 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Pioneer Natural Resources in the 3rd quarter valued at $75,317,000. 90.69% of the stock is owned by institutional investors.
In other Pioneer Natural Resources news, CEO Timothy L. Dove sold 5,560 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $160.66, for a total value of $893,269.60. Following the completion of the transaction, the chief executive officer now owns 260,083 shares of the company’s stock, valued at approximately $41,784,934.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark H. Kleinman sold 2,582 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $158.37, for a total transaction of $408,911.34. Following the completion of the transaction, the senior vice president now directly owns 12,861 shares of the company’s stock, valued at approximately $2,036,796.57. The disclosure for this sale can be found here. Insiders have sold a total of 41,116 shares of company stock valued at $6,666,312 in the last ninety days. 0.89% of the stock is currently owned by corporate insiders.
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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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