Pioneer Natural Resources (NYSE:PXD) – Equities research analysts at SunTrust Banks issued their Q1 2018 earnings estimates for Pioneer Natural Resources in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst N. Dingmann expects that the oil and gas development company will earn $1.11 per share for the quarter. SunTrust Banks has a “Hold” rating and a $180.00 price objective on the stock. SunTrust Banks also issued estimates for Pioneer Natural Resources’ Q2 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.30 EPS, FY2018 earnings at $4.81 EPS and FY2020 earnings at $8.16 EPS.
A number of other research firms also recently issued reports on PXD. Piper Jaffray Companies restated a “buy” rating and set a $207.00 price objective on shares of Pioneer Natural Resources in a report on Tuesday, January 9th. ValuEngine downgraded shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. JPMorgan Chase & Co. set a $185.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Royal Bank of Canada set a $201.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Sunday, October 15th. Finally, Zacks Investment Research downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $207.18.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 48.4% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in PXD. GWM Advisors LLC bought a new position in shares of Pioneer Natural Resources in the second quarter valued at approximately $100,000. WFG Advisors LP boosted its position in shares of Pioneer Natural Resources by 10.2% in the second quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock valued at $176,000 after acquiring an additional 102 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Pioneer Natural Resources in the third quarter valued at approximately $176,000. GeoSphere Capital Management bought a new position in shares of Pioneer Natural Resources in the second quarter valued at approximately $199,000. Finally, Shelton Capital Management bought a new position in shares of Pioneer Natural Resources in the second quarter valued at approximately $205,000. Institutional investors own 90.97% of the company’s stock.
In other news, EVP Mark Stephen Berg sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $154.47, for a total value of $308,940.00. Following the completion of the transaction, the executive vice president now directly owns 48,719 shares in the company, valued at $7,525,623.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark H. Kleinman sold 2,582 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were 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 $2,036,796.57. The disclosure for this sale can be found here. Insiders have sold 27,106 shares of company stock valued at $4,444,339 in the last quarter. Company insiders own 0.89% of the company’s stock.
Pioneer Natural Resources declared that its board has approved a share repurchase 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 purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.16 per share. This represents a yield of 0.18%. The ex-dividend date is Wednesday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 1.65%.
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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