Q2 2019 EPS Estimates for Pioneer Natural Resources Raised by Analyst (PXD)

Pioneer Natural Resources (NYSE:PXD) – Investment analysts at Piper Jaffray Companies increased their Q2 2019 earnings estimates for Pioneer Natural Resources in a research note issued to investors on Wednesday, May 1st, Zacks Investment Research reports. Piper Jaffray Companies analyst R. Todd now expects that the oil and gas development company will post earnings of $2.54 per share for the quarter, up from their prior forecast of $2.45. Piper Jaffray Companies also issued estimates for Pioneer Natural Resources’ FY2019 earnings at $9.59 EPS.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Monday, May 6th. The oil and gas development company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.22. Pioneer Natural Resources had a return on equity of 9.31% and a net margin of 11.89%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the firm posted $0.92 EPS. The business’s revenue was up 12.2% compared to the same quarter last year.

Several other brokerages have also issued reports on PXD. KeyCorp raised their target price on Pioneer Natural Resources from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. SunTrust Banks set a $205.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Goldman Sachs Group lowered Pioneer Natural Resources to a “buy” rating in a research report on Friday, April 12th. ValuEngine raised Pioneer Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Finally, Macquarie raised Pioneer Natural Resources from a “neutral” rating to an “outperform” rating and set a $168.32 target price for the company in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $206.30.

Shares of Pioneer Natural Resources stock traded down $0.82 during trading hours on Thursday, hitting $154.27. 1,279,629 shares of the company’s stock traded hands, compared to its average volume of 1,945,840. Pioneer Natural Resources has a 12-month low of $119.08 and a 12-month high of $213.40. The firm has a market cap of $25.51 billion, a PE ratio of 24.45, a P/E/G ratio of 0.94 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.99 and a quick ratio of 0.89.

A number of hedge funds and other institutional investors have recently modified their holdings of PXD. Norges Bank bought a new position in Pioneer Natural Resources in the 4th quarter worth about $207,894,000. Boston Partners boosted its stake in Pioneer Natural Resources by 28.8% in the 1st quarter. Boston Partners now owns 3,596,532 shares of the oil and gas development company’s stock worth $547,679,000 after purchasing an additional 804,760 shares during the period. Primecap Management Co. CA boosted its stake in Pioneer Natural Resources by 90.6% in the 1st quarter. Primecap Management Co. CA now owns 1,367,296 shares of the oil and gas development company’s stock worth $208,212,000 after purchasing an additional 649,746 shares during the period. Baupost Group LLC MA boosted its stake in Pioneer Natural Resources by 12.5% in the 4th quarter. Baupost Group LLC MA now owns 4,500,000 shares of the oil and gas development company’s stock worth $591,840,000 after purchasing an additional 500,000 shares during the period. Finally, Deutsche Bank AG boosted its stake in Pioneer Natural Resources by 127.2% in the 4th quarter. Deutsche Bank AG now owns 812,422 shares of the oil and gas development company’s stock worth $106,841,000 after purchasing an additional 454,920 shares during the period. Institutional investors and hedge funds own 89.22% of the company’s stock.

In other Pioneer Natural Resources news, CAO Margaret Montemayor sold 888 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $153.38, for a total value of $136,201.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.91% of the stock is owned by company insiders.

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

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