Williams Capital Equities Analysts Decrease Earnings Estimates for Pioneer Natural Resources Co. (PXD)
Pioneer Natural Resources Co. (NYSE:PXD) – Research analysts at Williams Capital decreased their Q3 2016 earnings per share estimates for shares of Pioneer Natural Resources in a note issued to investors on Monday. Williams Capital analyst G. Sorbara now forecasts that the firm will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.17. Williams Capital currently has a “Buy” rating and a $217.00 target price on the stock. Williams Capital also issued estimates for Pioneer Natural Resources’ FY2017 earnings at $1.22 EPS and FY2018 earnings at $5.52 EPS.
Several other analysts have also recently commented on the stock. KeyCorp lifted their target price on shares of Pioneer Natural Resources from $190.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, August 22nd. Societe Generale cut shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating and set a $132.00 price objective for the company. in a research note on Thursday, August 4th. They noted that the move was a valuation call. Wunderlich boosted their price objective on shares of Pioneer Natural Resources from $182.00 to $207.00 and gave the company a “buy” rating in a research note on Monday, October 10th. KLR Group reissued a “buy” rating and set a $238.00 price objective (up from $218.00) on shares of Pioneer Natural Resources in a research note on Sunday, July 31st. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of Pioneer Natural Resources in a research note on Thursday, September 8th. They set a “neutral” rating and a $200.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Pioneer Natural Resources presently has an average rating of “Buy” and a consensus target price of $179.66.
Pioneer Natural Resources (NYSE:PXD) traded down 0.11% during trading on Tuesday, reaching $184.08. The company had a trading volume of 435,703 shares. Pioneer Natural Resources has a 52-week low of $103.50 and a 52-week high of $193.39. The stock has a 50 day moving average price of $182.65 and a 200-day moving average price of $165.43. The company’s market capitalization is $31.22 billion.
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Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Wednesday, July 27th. The oil and gas development company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.12. The business had revenue of $786 million for the quarter, compared to analysts’ expectations of $797.28 million. Pioneer Natural Resources had a negative return on equity of 1.79% and a negative net margin of 10.75%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 12th. Stockholders of record on Friday, September 30th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. Pioneer Natural Resources’s dividend payout ratio (DPR) is -2.52%.
In other news, EVP Mark Stephen Berg sold 2,000 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $171.53, for a total transaction of $343,060.00. Following the transaction, the executive vice president now owns 49,266 shares in the company, valued at approximately $8,450,596.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Larry R. Grillot sold 500 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $164.72, for a total transaction of $82,360.00. Following the transaction, the director now owns 6,026 shares in the company, valued at approximately $992,602.72. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PXD. Lazard Asset Management LLC raised its position in shares of Pioneer Natural Resources by 240.8% in the first quarter. Lazard Asset Management LLC now owns 1,542,686 shares of the oil and gas development company’s stock valued at $217,116,000 after buying an additional 1,089,989 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Pioneer Natural Resources during the first quarter valued at approximately $433,000. Rafferty Asset Management LLC acquired a new position in shares of Pioneer Natural Resources during the first quarter valued at approximately $1,105,000. State Street Corp raised its position in shares of Pioneer Natural Resources by 11.7% in the first quarter. State Street Corp now owns 9,717,623 shares of the oil and gas development company’s stock valued at $1,367,654,000 after buying an additional 1,017,873 shares during the period. Finally, BB&T Securities LLC acquired a new position in shares of Pioneer Natural Resources during the first quarter valued at approximately $245,000. Institutional investors own 93.53% of the company’s stock.
Pioneer Natural Resources Company Profile
Pioneer Natural Resources Company is an independent oil and gas exploration and production company with operations in the United States. The Company operates through the oil and gas development, exploration and production segment. The Company focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties.
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