Q3 2019 EPS Estimates for Pioneer Natural Resources (NYSE:PXD) Cut by Analyst

Pioneer Natural Resources (NYSE:PXD) – Stock analysts at Mitsubishi UFJ Financial Group cut their Q3 2019 earnings per share (EPS) estimates for shares of Pioneer Natural Resources in a report released on Tuesday, October 8th. Mitsubishi UFJ Financial Group analyst M. Mcallister now expects that the oil and gas development company will post earnings per share of $1.85 for the quarter, down from their prior forecast of $2.05. Mitsubishi UFJ Financial Group also issued estimates for Pioneer Natural Resources’ Q4 2019 earnings at $1.99 EPS, FY2019 earnings at $7.68 EPS, Q1 2020 earnings at $1.96 EPS, Q2 2020 earnings at $1.90 EPS, Q3 2020 earnings at $2.00 EPS, Q4 2020 earnings at $2.16 EPS, FY2020 earnings at $8.02 EPS and FY2021 earnings at $9.06 EPS.

PXD has been the topic of a number of other reports. Wells Fargo & Co raised their price objective on Pioneer Natural Resources from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Friday, September 20th. ValuEngine raised Pioneer Natural Resources from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Piper Jaffray Companies set a $202.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a report on Friday, August 16th. Royal Bank of Canada reissued a “buy” rating and set a $190.00 price objective on shares of Pioneer Natural Resources in a report on Sunday, August 11th. Finally, Robert W. Baird raised their price objective on Pioneer Natural Resources from $142.00 to $157.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Pioneer Natural Resources presently has an average rating of “Buy” and an average price target of $192.14.

Shares of NYSE PXD opened at $132.51 on Thursday. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 0.69 and a beta of 1.14. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.17. Pioneer Natural Resources has a 1-year low of $114.79 and a 1-year high of $178.22. The stock’s 50-day moving average is $127.89 and its 200 day moving average is $142.11.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.13. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Pioneer Natural Resources had a return on equity of 10.04% and a net margin of 9.65%. Pioneer Natural Resources’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS.

Several institutional investors and hedge funds have recently bought and sold shares of PXD. Berman Capital Advisors LLC increased its stake in shares of Pioneer Natural Resources by 64.9% during the second quarter. Berman Capital Advisors LLC now owns 221 shares of the oil and gas development company’s stock valued at $34,000 after buying an additional 87 shares during the period. Parallax Volatility Advisers L.P. increased its stake in shares of Pioneer Natural Resources by 1,606.7% during the second quarter. Parallax Volatility Advisers L.P. now owns 256 shares of the oil and gas development company’s stock valued at $39,000 after buying an additional 241 shares during the period. HM Payson & Co. purchased a new position in shares of Pioneer Natural Resources during the second quarter valued at approximately $53,000. Foresters Asset Management Inc. increased its stake in shares of Pioneer Natural Resources by 35.7% during the second quarter. Foresters Asset Management Inc. now owns 380 shares of the oil and gas development company’s stock valued at $58,000 after buying an additional 100 shares during the period. Finally, Carroll Financial Associates Inc. increased its stake in shares of Pioneer Natural Resources by 264.8% during the second quarter. Carroll Financial Associates Inc. now owns 394 shares of the oil and gas development company’s stock valued at $60,000 after buying an additional 286 shares during the period. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Chris J. Cheatwood sold 5,619 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $140.35, for a total transaction of $788,626.65. Following the transaction, the executive vice president now directly owns 39,027 shares of the company’s stock, valued at $5,477,439.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director J Kenneth Thompson bought 500 shares of Pioneer Natural Resources stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average cost of $121.01 per share, for a total transaction of $60,505.00. Following the completion of the purchase, the director now directly owns 13,024 shares of the company’s stock, valued at approximately $1,576,034.24. The disclosure for this purchase can be found here. 0.91% of the stock is owned by insiders.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Friday, September 27th were paid a $0.44 dividend. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.16. This represents a $1.76 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, September 26th. Pioneer Natural Resources’s payout ratio is 13.95%.

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.

Further Reading: G-20

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

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