Q2 2018 EPS Estimates for Pioneer Natural Resources (NYSE:PXD) Decreased by Analyst

Pioneer Natural Resources (NYSE:PXD) – Equities research analysts at Piper Jaffray Companies lowered their Q2 2018 earnings per share (EPS) estimates for shares of Pioneer Natural Resources in a research note issued to investors on Sunday, May 20th, Zacks Investment Research reports. Piper Jaffray Companies analyst D. Kistler now anticipates that the oil and gas development company will post earnings of $1.63 per share for the quarter, down from their previous forecast of $1.73. Piper Jaffray Companies has a “Buy” rating and a $229.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Pioneer Natural Resources’ Q4 2019 earnings at $2.85 EPS and FY2019 earnings at $10.86 EPS.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Wednesday, May 2nd. The oil and gas development company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.16. Pioneer Natural Resources had a return on equity of 5.57% and a net margin of 15.56%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 56.5% on a year-over-year basis.

A number of other brokerages have also issued reports on PXD. KeyCorp raised their price target on Pioneer Natural Resources from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, May 24th. MED raised their price target on Pioneer Natural Resources from $220.00 to $223.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $240.00 price target on shares of Pioneer Natural Resources in a research note on Thursday, April 26th. Stifel Nicolaus set a $308.00 price objective on Pioneer Natural Resources and gave the stock a “buy” rating in a report on Tuesday, April 24th. Finally, Williams Capital set a $202.00 price objective on Pioneer Natural Resources and gave the stock a “hold” rating in a report on Thursday, May 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $220.18.

NYSE:PXD traded down $1.41 during mid-day trading on Wednesday, reaching $191.45. The company’s stock had a trading volume of 985,443 shares, compared to its average volume of 1,555,561. The company has a current ratio of 1.26, a quick ratio of 1.16 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a twelve month low of $125.46 and a twelve month high of $213.40. The firm has a market cap of $32.64 billion, a price-to-earnings ratio of 88.63, a PEG ratio of 2.07 and a beta of 0.89.

In other news, EVP Chris J. Cheatwood sold 9,513 shares of Pioneer Natural Resources stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $175.93, for a total value of $1,673,622.09. Following the completion of the transaction, the executive vice president now owns 42,931 shares in the company, valued at approximately $7,552,850.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edison C. Buchanan sold 2,693 shares of Pioneer Natural Resources stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $203.04, for a total value of $546,786.72. Following the completion of the transaction, the director now owns 24,596 shares of the company’s stock, valued at approximately $4,993,971.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,778 shares of company stock valued at $16,664,550. Insiders own 0.92% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC boosted its position in Pioneer Natural Resources by 22.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,472 shares of the oil and gas development company’s stock valued at $254,000 after purchasing an additional 273 shares during the period. Cobiz Wealth LLC boosted its position in Pioneer Natural Resources by 0.8% during the 4th quarter. Cobiz Wealth LLC now owns 33,971 shares of the oil and gas development company’s stock valued at $5,872,000 after purchasing an additional 276 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in Pioneer Natural Resources by 1.1% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 26,728 shares of the oil and gas development company’s stock valued at $4,591,000 after purchasing an additional 300 shares during the period. Private Advisor Group LLC boosted its position in Pioneer Natural Resources by 14.3% during the 1st quarter. Private Advisor Group LLC now owns 2,519 shares of the oil and gas development company’s stock valued at $433,000 after purchasing an additional 316 shares during the period. Finally, Reliant Investment Management LLC boosted its position in Pioneer Natural Resources by 1.5% during the 4th quarter. Reliant Investment Management LLC now owns 22,296 shares of the oil and gas development company’s stock valued at $3,854,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

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

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