Wall Street brokerages predict that Pioneer Natural Resources (NYSE:PXD) will announce sales of $2.47 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Pioneer Natural Resources’ earnings. The lowest sales estimate is $2.26 billion and the highest is $2.78 billion. Pioneer Natural Resources posted sales of $2.11 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 17.1%. The company is expected to report its next quarterly earnings report after the market closes on Tuesday, August 6th.
On average, analysts expect that Pioneer Natural Resources will report full year sales of $10.06 billion for the current financial year, with estimates ranging from $9.58 billion to $10.74 billion. For the next financial year, analysts forecast that the company will report sales of $11.38 billion, with estimates ranging from $10.32 billion to $14.06 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Pioneer Natural Resources.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Monday, May 6th. The oil and gas development company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. Pioneer Natural Resources had a net margin of 11.89% and a return on equity of 9.31%. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 12.2% on a year-over-year basis.
PXD has been the topic of a number of recent analyst reports. Goldman Sachs Group lowered shares of Pioneer Natural Resources to a “buy” rating in a report on Friday, April 12th. Macquarie upgraded shares of Pioneer Natural Resources from a “neutral” rating to an “outperform” rating and set a $168.32 price target on the stock in a report on Monday, April 15th. TD Securities lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating and cut their price target for the company from $185.00 to $165.00 in a report on Friday, February 15th. Imperial Capital set a $199.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Friday, February 15th. Finally, ValuEngine upgraded shares of Pioneer Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Pioneer Natural Resources currently has an average rating of “Buy” and an average target price of $205.51.
Shares of PXD stock traded up $1.93 during trading hours on Friday, reaching $143.25. 1,702,936 shares of the stock traded hands, compared to its average volume of 1,908,352. Pioneer Natural Resources has a 1-year low of $119.08 and a 1-year high of $195.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.99 and a quick ratio of 0.89. The firm has a market capitalization of $24.61 billion, a P/E ratio of 22.70, a P/E/G ratio of 0.88 and a beta of 1.09.
In related news, CAO Margaret Montemayor sold 888 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.38, for a total transaction of $136,201.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.91% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Motco grew its position in Pioneer Natural Resources by 2,542.9% in the first quarter. Motco now owns 185 shares of the oil and gas development company’s stock worth $28,000 after acquiring an additional 178 shares in the last quarter. Global Retirement Partners LLC grew its position in Pioneer Natural Resources by 224.6% in the first quarter. Global Retirement Partners LLC now owns 198 shares of the oil and gas development company’s stock worth $30,000 after acquiring an additional 137 shares in the last quarter. Lindbrook Capital LLC bought a new stake in Pioneer Natural Resources in the fourth quarter worth approximately $31,000. Executive Wealth Management LLC bought a new stake in Pioneer Natural Resources in the fourth quarter worth approximately $38,000. Finally, Canton Hathaway LLC bought a new stake in Pioneer Natural Resources in the first quarter worth approximately $38,000. 87.98% of the stock is owned by 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.
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