Pioneer Natural Resources to Post FY2019 Earnings of $7.06 Per Share, SunTrust Banks Forecasts (PXD)

Pioneer Natural Resources (NYSE:PXD) – SunTrust Banks raised their FY2019 earnings per share (EPS) estimates for Pioneer Natural Resources in a report issued on Wednesday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas development company will post earnings of $7.06 per share for the year, up from their previous estimate of $5.91. SunTrust Banks currently has a “Hold” rating and a $180.00 price target on the stock.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.63. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.39 billion. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. Pioneer Natural Resources’s quarterly revenue was up 48.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share.

Several other equities analysts have also commented on PXD. Credit Suisse Group initiated coverage on Pioneer Natural Resources in a report on Monday, December 11th. They set an “outperform” rating and a $192.00 target price for the company. Zacks Investment Research raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $192.00 target price for the company in a report on Tuesday, December 26th. Morgan Stanley lowered their target price on Pioneer Natural Resources from $202.00 to $197.00 and set an “overweight” rating for the company in a report on Wednesday, October 18th. KeyCorp set a $180.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a report on Saturday, November 25th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $207.00 target price on shares of Pioneer Natural Resources in a report on Tuesday, January 9th. Two research 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 stock. The company has a consensus rating of “Buy” and a consensus target price of $207.88.

Shares of Pioneer Natural Resources (NYSE PXD) opened at $165.05 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $28,085.78, a PE ratio of 34.03, a P/E/G ratio of 2.84 and a beta of 0.92. Pioneer Natural Resources has a fifty-two week low of $125.46 and a fifty-two week high of $199.83.

Hedge funds have recently modified their holdings of the stock. WFG Advisors LP lifted its position 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 worth $176,000 after purchasing an additional 102 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Pioneer Natural Resources in the third quarter worth approximately $176,000. Shelton Capital Management acquired a new stake in Pioneer Natural Resources in the second quarter worth approximately $205,000. Cetera Investment Advisers acquired a new stake in Pioneer Natural Resources in the second quarter worth approximately $206,000. Finally, Savant Capital LLC acquired a new stake in Pioneer Natural Resources in the fourth quarter worth approximately $208,000. 90.58% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Timothy L. Dove sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $159.51, for a total value of $159,510.00. Following the completion of the transaction, the chief executive officer now directly owns 259,083 shares of the company’s stock, valued at approximately $41,326,329.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $172.60, for a total value of $310,680.00. Following the completion of the transaction, the executive vice president now directly 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 sold a total of 27,106 shares of company stock valued at $4,444,339 over the last three months. Corporate insiders own 0.89% of the company’s stock.

The firm also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a $0.16 dividend. This represents a yield of 0.18%. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio is 1.65%.

Pioneer Natural Resources announced that its board has authorized a share repurchase program on Tuesday, February 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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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.

Earnings History and Estimates for Pioneer Natural Resources (NYSE:PXD)

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