Q1 2018 EPS Estimates for Pioneer Natural Resources Company Raised by Analyst (PXD)
Pioneer Natural Resources Company (NYSE:PXD) – Analysts at Imperial Capital raised their Q1 2018 earnings per share (EPS) estimates for Pioneer Natural Resources in a research report issued to clients and investors on Friday. Imperial Capital analyst I. Haas now forecasts that the oil and gas development company will post earnings per share of $0.53 for the quarter, up from their previous forecast of $0.41. Imperial Capital has a “Outperform” rating and a $160.00 price objective on the stock. Imperial Capital also issued estimates for Pioneer Natural Resources’ Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.79 EPS and FY2018 earnings at $2.57 EPS.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas development company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.15 billion. Pioneer Natural Resources had a return on equity of 2.34% and a net margin of 2.17%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS.
A number of other research firms have also recently weighed in on PXD. Williams Capital set a $184.00 price objective on Pioneer Natural Resources and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Morgan Stanley decreased their price objective on Pioneer Natural Resources from $202.00 to $197.00 and set an “overweight” rating for the company in a research report on Wednesday, October 18th. Wells Fargo & Company cut Pioneer Natural Resources from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $190.00 to $160.00 in a research report on Wednesday, August 2nd. Mizuho reaffirmed a “buy” rating and set a $196.00 price objective on shares of Pioneer Natural Resources in a research report on Friday, September 29th. Finally, Zacks Investment Research raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $193.62.
Pioneer Natural Resources (NYSE:PXD) opened at $150.29 on Monday. The company has a market capitalization of $25,574.14, a PE ratio of 105.10, a P/E/G ratio of 11.73 and a beta of 0.96. The company has a quick ratio of 1.58, a current ratio of 1.69 and a debt-to-equity ratio of 0.22.
A number of institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. purchased a new stake in shares of Pioneer Natural Resources in the first quarter valued at $172,000. Achmea Investment Management B.V. purchased a new stake in shares of Pioneer Natural Resources in the first quarter valued at $1,107,000. Public Employees Retirement System of Ohio grew its position in shares of Pioneer Natural Resources by 0.6% in the first quarter. Public Employees Retirement System of Ohio now owns 169,761 shares of the oil and gas development company’s stock valued at $31,615,000 after purchasing an additional 1,071 shares during the period. Pointe Capital Management LLC purchased a new stake in shares of Pioneer Natural Resources in the first quarter valued at $578,000. Finally, UBS Oconnor LLC purchased a new stake in shares of Pioneer Natural Resources in the first quarter valued at $2,980,000. 91.91% of the stock is owned by institutional investors.
In related news, Director Andrew F. Cates purchased 350 shares of the company’s stock in a transaction on Friday, August 11th. The stock was bought at an average price of $135.37 per share, with a total value of $47,379.50. Following the completion of the transaction, the director now owns 14,556 shares of the company’s stock, valued at approximately $1,970,445.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Teresa A. Fairbrook sold 880 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was 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 1,200 shares of company stock valued at $161,102 in the last three months. 0.89% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, September 29th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Thursday, September 28th. Pioneer Natural Resources’s payout ratio is 11.11%.
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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