Pioneer Natural Resources to Post Q1 2018 Earnings of $1.69 Per Share, Jefferies Group Forecasts (PXD)
Pioneer Natural Resources (NYSE:PXD) – Equities researchers at Jefferies Group reduced their Q1 2018 EPS estimates for Pioneer Natural Resources in a research note issued on Tuesday. Jefferies Group analyst M. Hsu now anticipates that the oil and gas development company will earn $1.69 per share for the quarter, down from their previous forecast of $1.79. Jefferies Group currently has a “Buy” rating and a $245.00 target price on the stock. Jefferies Group also issued estimates for Pioneer Natural Resources’ Q2 2018 earnings at $2.09 EPS and Q3 2018 earnings at $2.55 EPS.
PXD has been the topic of several other research reports. Zacks Investment Research cut Pioneer Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 11th. Williams Capital cut Pioneer Natural Resources from a “buy” rating to a “hold” rating and dropped their target price for the stock from $226.00 to $206.00 in a report on Tuesday, January 24th. KLR Group reissued a “buy” rating and set a $273.00 target price (up previously from $254.00) on shares of Pioneer Natural Resources in a report on Thursday, February 9th. Mitsubishi UFJ Financial Group cut Pioneer Natural Resources from an “overweight” rating to a “neutral” rating in a report on Friday, January 20th. Finally, Royal Bank of Canada boosted their target price on Pioneer Natural Resources from $217.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, January 27th. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $207.75.
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Pioneer Natural Resources (NYSE:PXD) traded up 0.47% during mid-day trading on Friday, reaching $175.26. The company’s stock had a trading volume of 1,132,747 shares. The firm’s market capitalization is $29.76 billion. The stock’s 50-day moving average is $185.26 and its 200-day moving average is $184.41. Pioneer Natural Resources has a 12 month low of $146.08 and a 12 month high of $199.83.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Tuesday, February 7th. The oil and gas development company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.16. The firm earned $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. Pioneer Natural Resources had a negative return on equity of 0.33% and a negative net margin of 14.56%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.18) EPS.
Several institutional investors have recently bought and sold shares of PXD. Quadrant Capital Group LLC boosted its position in Pioneer Natural Resources by 6.2% in the first quarter. Quadrant Capital Group LLC now owns 615 shares of the oil and gas development company’s stock valued at $107,000 after buying an additional 36 shares in the last quarter. LBA Wealth Management LLC boosted its position in Pioneer Natural Resources by 44.2% in the fourth quarter. LBA Wealth Management LLC now owns 750 shares of the oil and gas development company’s stock valued at $135,000 after buying an additional 230 shares in the last quarter. Massey Quick & Co. LLC bought a new position in Pioneer Natural Resources during the fourth quarter valued at approximately $143,000. Teza Capital Management LLC bought a new position in Pioneer Natural Resources during the fourth quarter valued at approximately $203,000. Finally, Fulton Bank N.A. bought a new position in Pioneer Natural Resources during the first quarter valued at approximately $212,000. Institutional investors and hedge funds own 93.86% of the company’s stock.
In other news, insider Scott D. Sheffield sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $197.33, for a total transaction of $591,990.00. Following the transaction, the insider now directly owns 608,291 shares in the company, valued at approximately $120,034,063.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Stephen Berg sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the executive vice president now owns 52,719 shares in the company, valued at $10,239,084.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,358 shares of company stock worth $1,614,482. 0.92% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 12th. Stockholders of record on Friday, March 31st were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 29th. Pioneer Natural Resources’s dividend payout ratio is currently -2.35%.
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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