Analysts expect that Pioneer Natural Resources (NYSE:PXD) will report $1.80 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Pioneer Natural Resources’ earnings, with the highest sales estimate coming in at $1.82 billion and the lowest estimate coming in at $1.78 billion. Pioneer Natural Resources posted sales of $1.47 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.4%. The company is scheduled to report its next earnings report after the market closes on Wednesday, May 2nd.
On average, analysts expect that Pioneer Natural Resources will report full-year sales of $1.80 billion for the current financial year, with estimates ranging from $7.39 billion to $7.56 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.45 billion per share, with estimates ranging from $8.25 billion to $8.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Pioneer Natural Resources.
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 brokerages have commented on PXD. Piper Jaffray Companies set a $227.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Wednesday. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Pioneer Natural Resources in a report on Wednesday, March 7th. UBS Group began coverage on shares of Pioneer Natural Resources in a report on Wednesday, March 7th. They issued a “buy” rating and a $215.00 price objective for the company. BMO Capital Markets restated a “buy” rating and issued a $250.00 price objective on shares of Pioneer Natural Resources in a report on Tuesday, February 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $280.00 target price (up from $260.00) on shares of Pioneer Natural Resources in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $211.44.
In related news, SVP Frank E. Hopkins sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $171.00, for a total transaction of $171,000.00. Following the completion of the sale, the senior vice president now owns 37,101 shares of the company’s stock, valued at $6,344,271. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris J. Cheatwood sold 2,201 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $167.82, for a total transaction of $369,371.82. Following the sale, the executive vice president now directly owns 42,909 shares of the company’s stock, valued at approximately $7,200,988.38. The disclosure for this sale can be found here. Insiders have sold 26,218 shares of company stock valued at $4,486,025 in the last three months. 0.89% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in PXD. Captrust Financial Advisors bought a new stake in Pioneer Natural Resources in the 4th quarter worth approximately $104,000. Pin Oak Investment Advisors Inc. bought a new stake in Pioneer Natural Resources in the 4th quarter worth approximately $129,000. Banco de Sabadell S.A bought a new stake in Pioneer Natural Resources in the 4th quarter worth approximately $147,000. Guardian Capital Advisors LP bought a new stake in Pioneer Natural Resources in the 4th quarter worth approximately $215,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in Pioneer Natural Resources in the 3rd quarter worth approximately $176,000. 89.44% of the stock is owned by institutional investors.
Shares of Pioneer Natural Resources (PXD) traded down $2.47 on Friday, reaching $166.57. 904,065 shares of the company’s stock traded hands, compared to its average volume of 1,710,000. 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 twelve month low of $125.46 and a twelve month high of $192.93. The stock has a market capitalization of $28,370.00, a price-to-earnings ratio of 139.97, a PEG ratio of 2.55 and a beta of 0.96.
The company also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a dividend yield of 0.18%. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio (DPR) is 6.72%.
Pioneer Natural Resources announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 6th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the oil and gas development company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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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