Pioneer Natural Resources (NYSE:PXD) – Equities researchers at SunTrust Banks reduced their Q1 2020 EPS estimates for shares of Pioneer Natural Resources in a research report issued on Wednesday, November 6th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas development company will post earnings per share of $2.14 for the quarter, down from their prior forecast of $2.15. SunTrust Banks currently has a “Hold” rating and a $130.00 price objective on the stock. SunTrust Banks also issued estimates for Pioneer Natural Resources’ Q2 2020 earnings at $2.15 EPS, Q3 2020 earnings at $2.28 EPS, Q4 2020 earnings at $2.44 EPS, FY2020 earnings at $9.01 EPS, Q1 2021 earnings at $2.27 EPS, Q2 2021 earnings at $2.26 EPS and Q3 2021 earnings at $2.34 EPS.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Monday, November 4th. The oil and gas development company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.03). Pioneer Natural Resources had a net margin of 7.88% and a return on equity of 9.86%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the company posted $2.07 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis.
Several other brokerages have also recently commented on PXD. Piper Jaffray Companies set a $202.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Friday, August 16th. Morgan Stanley reduced their price target on Pioneer Natural Resources from $176.00 to $167.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Williams Capital reissued a “buy” rating and set a $190.00 price target on shares of Pioneer Natural Resources in a research report on Tuesday. Royal Bank of Canada restated a “buy” rating and issued a $190.00 price objective on shares of Pioneer Natural Resources in a research note on Sunday, August 11th. Finally, Robert W. Baird upped their price objective on Pioneer Natural Resources from $142.00 to $157.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. Pioneer Natural Resources has an average rating of “Buy” and a consensus target price of $186.97.
NYSE PXD traded down $1.58 during trading hours on Friday, hitting $134.99. 1,100,551 shares of the company traded hands, compared to its average volume of 1,767,316. The business’s 50-day moving average is $128.56 and its 200-day moving average is $138.57. Pioneer Natural Resources has a twelve month low of $114.79 and a twelve month high of $178.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.76 and a current ratio of 0.78. The stock has a market capitalization of $22.71 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.00 and a beta of 1.14.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.44 per share. The ex-dividend date is Monday, December 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.30%. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 13.95%.
In other news, Director J Kenneth Thompson bought 500 shares of the stock in a transaction dated Tuesday, August 27th. The shares were bought at an average price of $121.01 per share, for a total transaction of $60,505.00. Following the completion of the purchase, the director now owns 13,024 shares in the company, valued at $1,576,034.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris J. Cheatwood sold 5,619 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $140.35, for a total value of $788,626.65. Following the transaction, the executive vice president now owns 39,027 shares in the company, valued at approximately $5,477,439.45. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Berman Capital Advisors LLC increased its stake in shares of Pioneer Natural Resources by 64.9% during the second quarter. Berman Capital Advisors LLC now owns 221 shares of the oil and gas development company’s stock worth $34,000 after purchasing an additional 87 shares during the period. Parallax Volatility Advisers L.P. increased its stake in shares of Pioneer Natural Resources by 1,606.7% during the second quarter. Parallax Volatility Advisers L.P. now owns 256 shares of the oil and gas development company’s stock worth $39,000 after purchasing an additional 241 shares during the period. HM Payson & Co. bought a new position in shares of Pioneer Natural Resources during the second quarter worth approximately $53,000. Venturi Wealth Management LLC bought a new position in shares of Pioneer Natural Resources during the third quarter worth approximately $53,000. Finally, Foresters Asset Management Inc. increased its stake in shares of Pioneer Natural Resources by 35.7% during the second quarter. Foresters Asset Management Inc. now owns 380 shares of the oil and gas development company’s stock worth $58,000 after purchasing an additional 100 shares during the period. Institutional investors own 87.26% of the company’s stock.
About Pioneer Natural Resources
Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has 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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