Pioneer Natural Resources (NYSE:PXD) – Equities research analysts at Jefferies Group lifted their Q1 2018 earnings estimates for shares of Pioneer Natural Resources in a research report issued to clients and investors on Wednesday. Jefferies Group analyst M. Lear now anticipates that the oil and gas development company will post earnings per share of $1.46 for the quarter, up from their prior forecast of $1.30. Jefferies Group has a “Buy” rating and a $238.00 price objective on the stock. Jefferies Group also issued estimates for Pioneer Natural Resources’ Q4 2018 earnings at $1.83 EPS, Q1 2019 earnings at $1.86 EPS, Q2 2019 earnings at $1.97 EPS, Q3 2019 earnings at $2.16 EPS and Q4 2019 earnings at $2.30 EPS.
Several other equities analysts also recently weighed in on PXD. Zacks Investment Research downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Royal Bank of Canada set a $201.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Sunday, October 15th. Wolfe Research downgraded shares of Pioneer Natural Resources from an “outperform” rating to a “market perform” rating and set a $143.78 target price for the company. in a research note on Monday, October 16th. Williams Capital reduced their price objective on shares of Pioneer Natural Resources from $165.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, October 18th. Finally, Morgan Stanley reduced their price objective on shares of Pioneer Natural Resources from $202.00 to $197.00 and set an “overweight” rating for the company in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $207.18.
Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.63. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The company’s revenue was up 48.4% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share.
The company also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a dividend of $0.16 per share. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. This represents a yield of 0.18%. The ex-dividend date is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio is currently 1.65%.
Pioneer Natural Resources declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas development company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, CEO Timothy L. Dove sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $159.51, for a total transaction of $159,510.00. Following the completion of the sale, the chief executive officer now directly owns 259,083 shares in the company, valued at approximately $41,326,329.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $172.60, for a total transaction of $310,680.00. Following the sale, the executive vice president now owns 22,964 shares of the company’s stock, valued at $3,963,586.40. The disclosure for this sale can be found here. Insiders have sold a total of 27,106 shares of company stock valued at $4,444,339 over the last quarter. 0.89% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. First Allied Advisory Services Inc. purchased a new position in Pioneer Natural Resources during the 4th quarter valued at $337,000. Intrust Bank NA purchased a new position in Pioneer Natural Resources during the 4th quarter valued at $244,000. Toronto Dominion Bank increased its position in Pioneer Natural Resources by 12.4% during the 4th quarter. Toronto Dominion Bank now owns 76,383 shares of the oil and gas development company’s stock valued at $13,204,000 after purchasing an additional 8,424 shares during the period. First Trust Advisors LP purchased a new position in Pioneer Natural Resources during the 4th quarter valued at $3,370,000. Finally, Public Employees Retirement System of Ohio increased its position in Pioneer Natural Resources by 0.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 179,972 shares of the oil and gas development company’s stock valued at $31,108,000 after purchasing an additional 953 shares during the period. Institutional investors own 90.97% of the company’s stock.
About Pioneer Natural Resources
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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