Pioneer Natural Resources (PXD) Expected to Post Quarterly Sales of $2.23 Billion

Brokerages expect Pioneer Natural Resources (NYSE:PXD) to announce $2.23 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Pioneer Natural Resources’ earnings, with the highest sales estimate coming in at $2.24 billion and the lowest estimate coming in at $2.20 billion. Pioneer Natural Resources posted sales of $1.46 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 52.7%. The firm is expected to announce its next earnings report after the market closes on Tuesday, November 6th.

According to Zacks, analysts expect that Pioneer Natural Resources will report full year sales of $8.99 billion for the current financial year, with estimates ranging from $8.80 billion to $9.60 billion. For the next year, analysts expect that the company will post sales of $11.28 billion, with estimates ranging from $10.29 billion to $12.79 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Pioneer Natural Resources.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Tuesday, August 7th. The oil and gas development company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.08). The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Pioneer Natural Resources had a return on equity of 7.29% and a net margin of 12.23%.

Several equities analysts have recently weighed in on PXD shares. TD Securities started coverage on shares of Pioneer Natural Resources in a research note on Thursday, July 5th. They issued a “buy” rating and a $240.00 target price for the company. Seaport Global Securities reiterated a “buy” rating on shares of Pioneer Natural Resources in a research note on Wednesday, July 25th. KLR Group upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and lifted their target price for the stock from $212.00 to $254.00 in a research note on Tuesday, July 24th. Mizuho started coverage on shares of Pioneer Natural Resources in a research note on Monday, July 23rd. They issued a “buy” rating and a $259.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $203.00 target price for the company in a research note on Monday, July 23rd. Four analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Pioneer Natural Resources has an average rating of “Buy” and a consensus target price of $234.62.

Several hedge funds have recently added to or reduced their stakes in PXD. Summit Trail Advisors LLC lifted its position in Pioneer Natural Resources by 28,826.7% during the first quarter. Summit Trail Advisors LLC now owns 126,699 shares of the oil and gas development company’s stock valued at $127,000 after purchasing an additional 126,261 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in Pioneer Natural Resources during the second quarter valued at approximately $127,000. Kiley Juergens Wealth Management LLC lifted its position in Pioneer Natural Resources by 159.5% during the third quarter. Kiley Juergens Wealth Management LLC now owns 768 shares of the oil and gas development company’s stock valued at $133,000 after purchasing an additional 472 shares during the last quarter. Bradley Foster & Sargent Inc. CT bought a new stake in Pioneer Natural Resources during the second quarter valued at approximately $207,000. Finally, Welch & Forbes LLC bought a new stake in Pioneer Natural Resources during the second quarter valued at approximately $218,000. Institutional investors own 88.80% of the company’s stock.

PXD opened at $166.78 on Friday. The stock has a market capitalization of $29.00 billion, a PE ratio of 77.17, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 0.98. Pioneer Natural Resources has a twelve month low of $140.31 and a twelve month high of $213.40.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were given a $0.16 dividend. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.04. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Thursday, September 27th. Pioneer Natural Resources’s dividend payout ratio (DPR) is 14.81%.

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.

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

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