Pioneer Natural Resources (NYSE:PXD) – Equities researchers at B. Riley upped their Q2 2018 earnings estimates for shares of Pioneer Natural Resources in a research report issued to clients and investors on Wednesday. B. Riley analyst R. Rashid now forecasts that the oil and gas development company will post earnings per share of $2.07 for the quarter, up from their prior forecast of $1.57. B. Riley has a “Buy” rating and a $305.00 price target on the stock. B. Riley also issued estimates for Pioneer Natural Resources’ Q3 2018 earnings at $2.33 EPS, Q4 2018 earnings at $2.55 EPS, FY2018 earnings at $8.76 EPS, Q1 2019 earnings at $2.81 EPS, Q2 2019 earnings at $2.85 EPS, Q3 2019 earnings at $3.13 EPS, Q4 2019 earnings at $3.53 EPS and FY2019 earnings at $12.31 EPS.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.63. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The business’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS.
Pioneer Natural Resources (NYSE PXD) traded up $0.14 during midday trading on Friday, hitting $169.30. The stock had a trading volume of 137,021 shares, compared to its average volume of 1,817,927. Pioneer Natural Resources has a 12 month low of $125.46 and a 12 month high of $199.83. The company has a market cap of $29,983.13, a PE ratio of 34.88, a price-to-earnings-growth ratio of 3.50 and a beta of 0.92. The company has a quick ratio of 1.58, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.
Pioneer Natural Resources declared that its Board of Directors has approved a stock buyback program on Tuesday, February 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the oil and gas development company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The business also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.16 per share. This represents a yield of 0.18%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s payout ratio is presently 1.65%.
In other Pioneer Natural Resources news, SVP Mark H. Kleinman sold 2,582 shares of Pioneer Natural Resources stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $158.37, for a total transaction of $408,911.34. Following the completion of the transaction, the senior vice president now owns 12,861 shares of the company’s stock, valued at approximately $2,036,796.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of Pioneer Natural Resources stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $172.60, for a total value of $310,680.00. Following the transaction, the executive vice president now directly owns 22,964 shares of the company’s stock, valued at approximately $3,963,586.40. The disclosure for this sale can be found here. Insiders have sold a total of 27,106 shares of company stock valued at $4,444,339 in the last ninety days. Insiders own 0.89% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PXD. GWM Advisors LLC purchased a new position in shares of Pioneer Natural Resources during the second quarter worth about $100,000. WFG Advisors LP grew its holdings in shares of Pioneer Natural Resources by 10.2% during the second quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock worth $176,000 after purchasing an additional 102 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Pioneer Natural Resources during the third quarter worth about $176,000. GeoSphere Capital Management purchased a new position in shares of Pioneer Natural Resources during the second quarter worth about $199,000. Finally, Shelton Capital Management purchased a new position in shares of Pioneer Natural Resources during the second quarter worth about $205,000. 90.97% of the stock is owned by institutional investors.
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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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