Pioneer Natural Resources Company (PXD) Announces Quarterly Earnings Results, Beats Expectations By $0.18 EPS
Pioneer Natural Resources Company (NYSE:PXD) released its quarterly earnings data on Wednesday. The oil and gas development company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.18, Bloomberg Earnings reports. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.15 billion. Pioneer Natural Resources had a return on equity of 1.79% and a net margin of 3.10%. Pioneer Natural Resources’s revenue was up 23.1% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, September 29th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.11%. Pioneer Natural Resources’s payout ratio is currently 8.16%.
In other Pioneer Natural Resources news, Director Andrew F. Cates purchased 350 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $135.37 per share, with a total value of $47,379.50. Following the transaction, the director now directly owns 14,556 shares of the company’s stock, valued at approximately $1,970,445.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Teresa A. Fairbrook sold 880 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $130.49, for a total value of $114,831.20. Following the transaction, the vice president now directly owns 7,648 shares of the company’s stock, valued at approximately $997,987.52. The disclosure for this sale can be found here. Insiders have acquired a total of 1,200 shares of company stock valued at $161,102 in the last ninety days. 0.89% of the stock is currently owned by corporate insiders.
Several research firms have commented on PXD. Zacks Investment Research downgraded Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Royal Bank Of Canada set a $201.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Sunday, October 15th. Piper Jaffray Companies dropped their target price on Pioneer Natural Resources from $229.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Cowen and Company set a $210.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Imperial Capital began coverage on Pioneer Natural Resources in a research report on Tuesday, August 22nd. They issued an “outperform” rating and a $160.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $194.08.
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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