Pioneer Natural Resources Company (NYSE:PXD) – Research analysts at SunTrust Banks lowered their Q3 2017 EPS estimates for shares of Pioneer Natural Resources in a report released on Wednesday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas development company will post earnings of $0.25 per share for the quarter, down from their prior forecast of $0.41. SunTrust Banks also issued estimates for Pioneer Natural Resources’ FY2018 earnings at $2.60 EPS, FY2019 earnings at $3.76 EPS and FY2020 earnings at $5.28 EPS.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.10. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. The firm’s revenue was up 107.4% compared to the same quarter last year.
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A number of other brokerages have also commented on PXD. Barclays PLC restated a “buy” rating and set a $196.00 price target (down previously from $204.00) on shares of Pioneer Natural Resources in a research note on Thursday, April 20th. Williams Capital set a $200.00 price target on shares of Pioneer Natural Resources and gave the company a “hold” rating in a research note on Thursday, May 4th. Piper Jaffray Companies restated an “overweight” rating and set a $246.00 price target (up previously from $225.00) on shares of Pioneer Natural Resources in a research note on Thursday, May 11th. Credit Suisse Group restated a “buy” rating on shares of Pioneer Natural Resources in a research note on Friday, May 5th. Finally, BidaskClub lowered shares of Pioneer Natural Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $214.19.
Pioneer Natural Resources (NYSE PXD) opened at 135.38 on Monday. The firm has a market cap of $23.03 billion, a PE ratio of 136.61 and a beta of 0.91. Pioneer Natural Resources has a one year low of $129.25 and a one year high of $199.83. The company’s 50-day moving average is $157.86 and its 200 day moving average is $174.43.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Pioneer Natural Resources by 2,397.3% in the first quarter. BlackRock Inc. now owns 11,376,848 shares of the oil and gas development company’s stock valued at $2,118,708,000 after buying an additional 10,921,279 shares during the period. Boston Partners bought a new position in Pioneer Natural Resources during the first quarter valued at $274,976,000. FMR LLC boosted its position in Pioneer Natural Resources by 18.3% in the first quarter. FMR LLC now owns 8,424,493 shares of the oil and gas development company’s stock valued at $1,568,894,000 after buying an additional 1,304,274 shares during the period. Swedbank bought a new position in Pioneer Natural Resources during the first quarter valued at $172,313,000. Finally, Clearbridge Investments LLC boosted its position in Pioneer Natural Resources by 68,788.6% in the first quarter. Clearbridge Investments LLC now owns 895,552 shares of the oil and gas development company’s stock valued at $166,779,000 after buying an additional 894,252 shares during the period. Institutional investors own 92.62% of the company’s stock.
In other news, EVP Chris J. Cheatwood sold 5,749 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $173.79, for a total transaction of $999,118.71. Following the sale, the executive vice president now directly owns 45,110 shares in the company, valued at $7,839,666.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.92% of the company’s stock.
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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