Jefferies Financial Group Equities Analysts Lift Earnings Estimates for Pioneer Natural Resources (PXD)
Pioneer Natural Resources (NYSE:PXD) – Investment analysts at Jefferies Financial Group lifted their FY2018 earnings estimates for shares of Pioneer Natural Resources in a report issued on Tuesday, November 13th. Jefferies Financial Group analyst M. Lear now expects that the oil and gas development company will post earnings per share of $7.36 for the year, up from their prior forecast of $7.15. Jefferies Financial Group has a “Buy” rating and a $244.00 price objective on the stock. Jefferies Financial Group also issued estimates for Pioneer Natural Resources’ Q3 2019 earnings at $2.82 EPS, FY2019 earnings at $11.68 EPS, Q1 2020 earnings at $3.30 EPS, Q2 2020 earnings at $3.50 EPS, Q3 2020 earnings at $3.69 EPS and FY2020 earnings at $14.31 EPS.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.38. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.24 billion. Pioneer Natural Resources had a net margin of 15.98% and a return on equity of 9.47%. Pioneer Natural Resources’s revenue was up 112.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share.
NYSE:PXD opened at $150.68 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 69.76, a P/E/G ratio of 1.78 and a beta of 1.04. Pioneer Natural Resources has a fifty-two week low of $140.54 and a fifty-two week high of $213.40.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PXD. Capital International Investors acquired a new stake in Pioneer Natural Resources during the 3rd quarter valued at $783,866,000. FMR LLC grew its holdings in Pioneer Natural Resources by 27.9% during the 2nd quarter. FMR LLC now owns 6,431,051 shares of the oil and gas development company’s stock valued at $1,217,012,000 after purchasing an additional 1,401,626 shares in the last quarter. BlackRock Inc. grew its holdings in Pioneer Natural Resources by 9.1% during the 2nd quarter. BlackRock Inc. now owns 12,425,606 shares of the oil and gas development company’s stock valued at $2,351,423,000 after purchasing an additional 1,032,381 shares in the last quarter. Bessemer Group Inc. grew its holdings in Pioneer Natural Resources by 892.8% during the 2nd quarter. Bessemer Group Inc. now owns 844,901 shares of the oil and gas development company’s stock valued at $159,889,000 after purchasing an additional 759,801 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in Pioneer Natural Resources by 3,019.1% during the 3rd quarter. Primecap Management Co. CA now owns 514,650 shares of the oil and gas development company’s stock valued at $89,647,000 after purchasing an additional 498,150 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.
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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