Q1 2020 Earnings Forecast for Pioneer Natural Resources Issued By SunTrust Banks (NYSE:PXD)
Pioneer Natural Resources (NYSE:PXD) – SunTrust Banks cut their Q1 2020 EPS estimates for shares of Pioneer Natural Resources in a research report issued on Wednesday, November 6th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas development company will post earnings per share of $2.14 for the quarter, down from their previous estimate of $2.15. SunTrust Banks currently has a “Hold” rating and a $130.00 target price on the stock. SunTrust Banks also issued estimates for Pioneer Natural Resources’ Q2 2020 earnings at $2.15 EPS, Q3 2020 earnings at $2.28 EPS, Q4 2020 earnings at $2.44 EPS, FY2020 earnings at $9.01 EPS, Q1 2021 earnings at $2.27 EPS, Q2 2021 earnings at $2.26 EPS and Q3 2021 earnings at $2.34 EPS.
Other equities analysts also recently issued research reports about the stock. Citigroup reaffirmed a “buy” rating on shares of Pioneer Natural Resources in a research note on Tuesday, October 8th. Piper Jaffray Companies set a $202.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Friday, August 16th. Raymond James reduced their price target on shares of Pioneer Natural Resources from $220.00 to $180.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 17th. Williams Capital reissued a “buy” rating and set a $190.00 price target on shares of Pioneer Natural Resources in a research report on Tuesday. Finally, KeyCorp raised their price target on shares of Pioneer Natural Resources from $168.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $186.97.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Monday, November 4th. The oil and gas development company reported $1.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.02 by ($0.03). Pioneer Natural Resources had a return on equity of 9.86% and a net margin of 7.88%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the business earned $2.07 earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Berman Capital Advisors LLC lifted its stake 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 valued at $34,000 after buying an additional 87 shares in the last quarter. Parallax Volatility Advisers L.P. lifted its stake in Pioneer Natural Resources by 1,606.7% in 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 in the last quarter. HM Payson & Co. purchased a new stake in Pioneer Natural Resources in the 2nd quarter worth $53,000. Venturi Wealth Management LLC purchased a new stake in Pioneer Natural Resources in the 3rd quarter worth $53,000. Finally, Foresters Asset Management Inc. lifted its stake in Pioneer Natural Resources by 35.7% in 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 in the last quarter. Institutional investors own 87.26% of the company’s stock.
In other Pioneer Natural Resources news, Director J Kenneth Thompson purchased 500 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $121.01 per share, for a total transaction of $60,505.00. Following the purchase, the director now directly owns 13,024 shares of the company’s stock, valued at approximately $1,576,034.24. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Chris J. Cheatwood sold 5,619 shares of Pioneer Natural Resources stock in a transaction on Monday, September 16th. The shares were sold at an average price of $140.35, for a total transaction of $788,626.65. Following the transaction, the executive vice president now owns 39,027 shares in the company, valued at approximately $5,477,439.45. The disclosure for this sale can be found here. Company insiders own 0.91% of the company’s stock.
The firm also recently declared 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 1.30%. The ex-dividend date of this dividend is Monday, December 30th. Pioneer Natural Resources’s dividend payout ratio is presently 13.95%.
About Pioneer Natural Resources
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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