Pioneer Natural Resources (PXD) Posts Earnings Results, Beats Expectations By $0.38 EPS

Pioneer Natural Resources (NYSE:PXD) posted its quarterly earnings results on Tuesday. The oil and gas development company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.38, Briefing.com reports. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.24 billion. Pioneer Natural Resources had a net margin of 12.23% and a return on equity of 7.29%. The firm’s revenue was up 112.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share.

PXD traded up $13.40 during midday trading on Wednesday, hitting $161.92. 205,016 shares of the company’s stock traded hands, compared to its average volume of 1,666,296. The firm has a market cap of $25.03 billion, a PE ratio of 73.32, a PEG ratio of 1.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 1.09. Pioneer Natural Resources has a one year low of $140.54 and a one year high of $213.40.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, September 27th. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 14.81%.

A number of analysts have recently issued reports on PXD shares. Zacks Investment Research raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $214.00 price target for the company in a research report on Tuesday, July 31st. Barclays started coverage on shares of Pioneer Natural Resources in a research report on Wednesday, August 29th. They issued an “overweight” rating and a $225.00 price target for the company. Morgan Stanley reissued a “buy” rating and issued a $234.00 price target (down from $240.00) on shares of Pioneer Natural Resources in a research report on Friday, October 12th. Seaport Global Securities lowered shares of Pioneer Natural Resources from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $210.00 in a research report on Wednesday, October 10th. Finally, Piper Jaffray Companies started coverage on shares of Pioneer Natural Resources in a research report on Friday, September 28th. They issued an “overweight” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $235.96.

A number of institutional investors and hedge funds have recently modified their holdings of PXD. Cornerstone Wealth Management LLC acquired a new position in Pioneer Natural Resources during the second quarter valued at approximately $127,000. Kiley Juergens Wealth Management LLC grew its holdings 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 acquired a new position in Pioneer Natural Resources during the second quarter valued at approximately $207,000. Welch & Forbes LLC acquired a new position in Pioneer Natural Resources during the second quarter valued at approximately $218,000. Finally, Jaffetilchin Investment Partners LLC acquired a new position in Pioneer Natural Resources during the second quarter valued at approximately $227,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

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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 for Pioneer Natural Resources (NYSE:PXD)

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