Pioneer Natural Resources (NYSE:PXD) – SunTrust Banks increased their Q1 2018 earnings estimates for shares of Pioneer Natural Resources in a research report issued on Monday, April 16th. SunTrust Banks analyst N. Dingmann now expects that the oil and gas development company will earn $1.46 per share for the quarter, up from their prior forecast of $1.11. SunTrust Banks has a “Buy” rating and a $235.00 price target on the stock. SunTrust Banks also issued estimates for Pioneer Natural Resources’ Q2 2018 earnings at $1.57 EPS, Q3 2018 earnings at $1.64 EPS, Q4 2018 earnings at $1.76 EPS, FY2018 earnings at $6.43 EPS, FY2019 earnings at $8.81 EPS and FY2020 earnings at $11.38 EPS.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 48.4% on a year-over-year basis.
A number of other research firms have also commented on PXD. Piper Jaffray reaffirmed a “buy” rating and issued a $207.00 price objective on shares of Pioneer Natural Resources in a research note on Tuesday, January 9th. ValuEngine lowered shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. JPMorgan Chase set a $185.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Wednesday, January 3rd. National Alliance Securities raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research note on Monday, February 12th. Finally, Stifel Nicolaus set a $260.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. Pioneer Natural Resources has a consensus rating of “Buy” and a consensus target price of $215.88.
NYSE:PXD opened at $193.18 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.41. Pioneer Natural Resources has a 52 week low of $125.46 and a 52 week high of $194.73. The firm has a market capitalization of $32,549.59, a PE ratio of 89.44, a PEG ratio of 2.34 and a beta of 0.96.
Several hedge funds have recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new stake in shares of Pioneer Natural Resources in the fourth quarter valued at about $277,000. Xact Kapitalforvaltning AB raised its holdings in shares of Pioneer Natural Resources by 14.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 16,185 shares of the oil and gas development company’s stock valued at $2,798,000 after purchasing an additional 2,104 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Pioneer Natural Resources by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 41,462 shares of the oil and gas development company’s stock valued at $7,167,000 after purchasing an additional 8,877 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Pioneer Natural Resources in the fourth quarter valued at about $129,000. Finally, Delek Group Ltd. purchased a new stake in shares of Pioneer Natural Resources in the fourth quarter valued at about $10,356,000. Institutional investors own 89.40% of the company’s stock.
In other news, EVP Chris J. Cheatwood sold 9,513 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $175.93, for a total value of $1,673,622.09. Following the completion of the sale, the executive vice president now owns 42,931 shares in the company, valued at $7,552,850.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Teresa A. Fairbrook sold 2,134 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $180.00, for a total transaction of $384,120.00. Following the completion of the sale, the vice president now owns 10,284 shares of the company’s stock, valued at approximately $1,851,120. The disclosure for this sale can be found here. Insiders sold 18,207 shares of company stock worth $3,219,653 over the last ninety days. Insiders own 0.92% of the company’s stock.
The firm also recently disclosed a semiannual dividend, which was paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th were paid a $0.16 dividend. This represents a dividend yield of 0.18%. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date was Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is 14.81%.
Pioneer Natural Resources announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas development company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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Pioneer Natural Resources Company Profile
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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