FY2019 Earnings Forecast for Pioneer Natural Resources (PXD) Issued By SunTrust Banks

Pioneer Natural Resources (NYSE:PXD) – SunTrust Banks lifted their FY2019 earnings estimates for Pioneer Natural Resources in a research note issued on Monday, November 5th. SunTrust Banks analyst N. Dingmann now expects that the oil and gas development company will earn $12.50 per share for the year, up from their previous forecast of $10.92. SunTrust Banks also issued estimates for Pioneer Natural Resources’ FY2020 earnings at $14.22 EPS.

A number of other research analysts also recently issued reports on PXD. Wells Fargo & Co reiterated a “market perform” rating and issued a $227.00 price target on shares of Pioneer Natural Resources in a report on Wednesday, October 24th. Zacks Investment Research upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $183.00 price target on the stock in a report on Tuesday, October 23rd. Oppenheimer reiterated a “hold” rating on shares of Pioneer Natural Resources in a report on Thursday, October 25th. Williams Capital reiterated a “hold” rating and issued a $226.00 price target on shares of Pioneer Natural Resources in a report on Tuesday, July 31st. Finally, Mizuho assumed coverage on Pioneer Natural Resources in a research report on Monday, July 23rd. They issued a “buy” rating and a $259.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $235.96.

Shares of NYSE:PXD opened at $156.51 on Thursday. Pioneer Natural Resources has a 12-month low of $140.54 and a 12-month high of $213.40. The firm has a market capitalization of $25.31 billion, a PE ratio of 72.46, a P/E/G ratio of 1.69 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.38. Pioneer Natural Resources had a return on equity of 9.58% and a net margin of 15.98%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business posted $0.48 EPS. The business’s revenue was up 112.2% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Pioneer Natural Resources by 9.1% during the 2nd quarter. BlackRock Inc. now owns 12,425,606 shares of the oil and gas development company’s stock worth $2,351,423,000 after acquiring an additional 1,032,381 shares during the period. FMR LLC lifted its position in Pioneer Natural Resources by 27.9% during the 2nd quarter. FMR LLC now owns 6,431,051 shares of the oil and gas development company’s stock worth $1,217,012,000 after acquiring an additional 1,401,626 shares during the period. Artisan Partners Limited Partnership lifted its position in Pioneer Natural Resources by 5.0% during the 2nd quarter. Artisan Partners Limited Partnership now owns 2,363,653 shares of the oil and gas development company’s stock worth $447,298,000 after acquiring an additional 113,443 shares during the period. Northern Trust Corp lifted its position in Pioneer Natural Resources by 0.3% during the 2nd quarter. Northern Trust Corp now owns 2,007,607 shares of the oil and gas development company’s stock worth $379,919,000 after acquiring an additional 5,666 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Pioneer Natural Resources by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,514,423 shares of the oil and gas development company’s stock worth $263,797,000 after acquiring an additional 8,115 shares during the period. 88.89% of the stock is owned by institutional investors.

The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.64 dividend on an annualized basis and a yield of 0.41%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.04. Pioneer Natural Resources’s payout ratio is currently 14.81%.

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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