Brokers Offer Predictions for Pioneer Natural Resources’ Q3 2018 Earnings (PXD)

Pioneer Natural Resources (NYSE:PXD) – Piper Jaffray Companies boosted their Q3 2018 earnings estimates for shares of Pioneer Natural Resources in a research report issued to clients and investors on Sunday, May 20th. Piper Jaffray Companies analyst D. Kistler now forecasts that the oil and gas development company will post earnings per share of $1.90 for the quarter, up from their previous forecast of $1.88. Piper Jaffray Companies currently has a “Buy” rating and a $229.00 target price on the stock. Piper Jaffray Companies also issued estimates for Pioneer Natural Resources’ Q4 2018 earnings at $2.05 EPS, FY2018 earnings at $7.24 EPS, Q1 2019 earnings at $2.64 EPS, Q2 2019 earnings at $2.64 EPS and Q3 2019 earnings at $2.74 EPS.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Wednesday, May 2nd. The oil and gas development company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.16. Pioneer Natural Resources had a return on equity of 5.57% and a net margin of 15.56%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 56.5% compared to the same quarter last year.

Several other equities analysts have also issued reports on PXD. Williams Capital set a $202.00 price target on Pioneer Natural Resources and gave the company a “hold” rating in a research note on Thursday, May 3rd. TheStreet upgraded Pioneer Natural Resources from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. Stifel Nicolaus set a $308.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Tuesday, April 24th. Credit Suisse Group set a $245.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Thursday, May 3rd. Finally, Jefferies Group reiterated a “buy” rating and issued a $238.00 price target on shares of Pioneer Natural Resources in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $218.67.

Shares of Pioneer Natural Resources opened at $209.84 on Tuesday, according to Marketbeat Ratings. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $213.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 1.26. The firm has a market capitalization of $35.73 billion, a PE ratio of 97.15, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94.

Pioneer Natural Resources declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other Pioneer Natural Resources news, EVP Chris J. Cheatwood sold 9,513 shares of Pioneer Natural Resources stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $175.93, for a total transaction of $1,673,622.09. Following the transaction, the executive vice president now directly owns 42,931 shares of the company’s stock, valued at approximately $7,552,850.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Margaret Montemayor sold 1,410 shares of Pioneer Natural Resources stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $179.33, for a total value of $252,855.30. Following the transaction, the chief accounting officer now directly owns 7,586 shares in the company, valued at $1,360,397.38. The disclosure for this sale can be found here. Insiders have sold a total of 89,272 shares of company stock worth $17,830,495 over the last ninety days. Company insiders own 0.92% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in Pioneer Natural Resources by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 277,806 shares of the oil and gas development company’s stock worth $47,721,000 after buying an additional 4,051 shares during the period. Summit Trail Advisors LLC lifted its holdings in Pioneer Natural Resources by 28,826.7% during the 1st quarter. Summit Trail Advisors LLC now owns 126,699 shares of the oil and gas development company’s stock worth $127,000 after buying an additional 126,261 shares during the period. WINTON GROUP Ltd lifted its holdings in Pioneer Natural Resources by 195.4% during the 1st quarter. WINTON GROUP Ltd now owns 3,926 shares of the oil and gas development company’s stock worth $674,000 after buying an additional 2,597 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in Pioneer Natural Resources by 14.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 18,515 shares of the oil and gas development company’s stock worth $3,181,000 after buying an additional 2,330 shares during the period. Finally, Atlantic Trust Group LLC lifted its holdings in Pioneer Natural Resources by 14.0% during the 1st quarter. Atlantic Trust Group LLC now owns 503,442 shares of the oil and gas development company’s stock worth $86,482,000 after buying an additional 61,954 shares during the period. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for Pioneer Natural Resources (NYSE:PXD)

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