Pioneer Natural Resources Company Forecasted to Earn Q3 2017 Earnings of $0.34 Per Share (PXD)
Pioneer Natural Resources Company (NYSE:PXD) – Research analysts at Capital One Financial Corporation reduced their Q3 2017 earnings per share estimates for shares of Pioneer Natural Resources in a report released on Tuesday. Capital One Financial Corporation analyst P. Johnston now anticipates that the oil and gas development company will post earnings per share of $0.34 for the quarter, down from their prior forecast of $0.35. Capital One Financial Corporation currently has a “Overweight” rating on the stock.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.10. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pioneer Natural Resources had a return on equity of 1.79% and a net margin of 3.10%. The firm’s quarterly revenue was up 107.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.22) EPS. COPYRIGHT VIOLATION WARNING: “Pioneer Natural Resources Company Forecasted to Earn Q3 2017 Earnings of $0.34 Per Share (PXD)” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/12/pioneer-natural-resources-company-forecasted-to-earn-q3-2017-earnings-of-0-34-per-share-pxd.html.
A number of other brokerages also recently commented on PXD. Piper Jaffray Companies reduced their price objective on shares of Pioneer Natural Resources from $229.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. Cowen and Company set a $210.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada set a $233.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Saturday, June 17th. Imperial Capital initiated coverage on shares of Pioneer Natural Resources in a research note on Tuesday, August 22nd. They issued an “outperform” rating and a $160.00 price objective for the company. Finally, Scotiabank set a $210.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $200.16.
Shares of Pioneer Natural Resources (PXD) opened at 149.01 on Thursday. The company has a 50 day moving average price of $139.28 and a 200 day moving average price of $157.98. Pioneer Natural Resources has a 1-year low of $125.46 and a 1-year high of $199.83. The stock has a market cap of $25.35 billion, a P/E ratio of 150.36 and a beta of 0.94.
A number of large investors have recently bought and sold shares of PXD. GWM Advisors LLC purchased a new stake in Pioneer Natural Resources in the second quarter valued at $100,000. Commonwealth Bank of Australia boosted its holdings in Pioneer Natural Resources by 10.8% in the second quarter. Commonwealth Bank of Australia now owns 690 shares of the oil and gas development company’s stock valued at $108,000 after purchasing an additional 67 shares during the last quarter. BDO Wealth Advisors LLC purchased a new stake in Pioneer Natural Resources in the second quarter valued at $120,000. Oppenheimer Asset Management Inc. purchased a new stake in Pioneer Natural Resources in the first quarter valued at $172,000. Finally, WFG Advisors LP boosted its holdings in Pioneer Natural Resources by 10.2% in the second quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock valued at $176,000 after purchasing an additional 102 shares during the last quarter. 91.57% of the stock is currently owned by institutional investors.
In other Pioneer Natural Resources news, Director J Kenneth Thompson purchased 750 shares of the stock in a transaction on Tuesday, August 15th. The shares were bought at an average cost of $133.40 per share, with a total value of $100,050.00. Following the completion of the acquisition, the director now owns 10,865 shares in the company, valued at $1,449,391. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Teresa A. Fairbrook sold 880 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $130.49, for a total transaction of $114,831.20. Following the completion of the sale, the vice president now directly owns 7,648 shares in the company, valued at $997,987.52. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 1,200 shares of company stock worth $161,102. 0.89% of the stock is owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Thursday, September 28th. Pioneer Natural Resources’s payout ratio is 8.16%.
Pioneer Natural Resources Company Profile
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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