Pioneer Natural Resources (NYSE:PXD) – Analysts at KeyCorp decreased their Q1 2018 earnings per share estimates for Pioneer Natural Resources in a report issued on Wednesday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and gas development company will earn $1.47 per share for the quarter, down from their previous forecast of $1.48. KeyCorp currently has a “Buy” rating and a $195.00 target price on the stock. KeyCorp also issued estimates for Pioneer Natural Resources’ Q2 2018 earnings at $1.64 EPS, Q4 2018 earnings at $1.66 EPS and FY2018 earnings at $6.41 EPS.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.63. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the business posted $0.49 earnings per share. Pioneer Natural Resources’s quarterly revenue was up 48.4% compared to the same quarter last year.
Several other brokerages have also commented on PXD. Stifel Nicolaus set a $260.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Tuesday, January 30th. Morgan Stanley raised their price objective on shares of Pioneer Natural Resources from $197.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Credit Suisse Group set a $218.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Cowen set a $225.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, BMO Capital Markets restated a “buy” rating and issued a $225.00 price objective on shares of Pioneer Natural Resources in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $211.44.
Shares of Pioneer Natural Resources (PXD) opened at $169.34 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a 1-year low of $125.46 and a 1-year high of $192.93. The company has a market cap of $28,440.00, a PE ratio of 142.30, a price-to-earnings-growth ratio of 2.54 and a beta of 0.96.
Pioneer Natural Resources announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the oil and gas development company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be given a $0.16 dividend. This represents a yield of 0.18%. The ex-dividend date is Wednesday, March 28th. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s payout ratio is 6.72%.
In other news, SVP Mark H. Kleinman sold 1,150 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $180.17, for a total transaction of $207,195.50. Following the completion of the sale, the senior vice president now owns 13,327 shares of the company’s stock, valued at approximately $2,401,125.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott D. Sheffield sold 2,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $180.00, for a total transaction of $360,000.00. Following the sale, the director now directly owns 582,600 shares of the company’s stock, valued at approximately $104,868,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,218 shares of company stock valued at $4,486,025. 0.89% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors bought a new stake in shares of Pioneer Natural Resources during the 4th quarter valued at $104,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Pioneer Natural Resources during the 4th quarter valued at $129,000. Banco de Sabadell S.A bought a new stake in shares of Pioneer Natural Resources during the 4th quarter valued at $147,000. Guardian Capital Advisors LP bought a new stake in shares of Pioneer Natural Resources during the 4th quarter valued at $215,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter valued at $176,000. 89.44% of the stock is owned by hedge funds and other institutional investors.
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About Pioneer Natural Resources
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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