Pioneer Natural Resources (NYSE:PXD) – Research analysts at Mitsubishi UFJ Financial Group dropped their Q1 2019 earnings per share (EPS) estimates for Pioneer Natural Resources in a report issued on Wednesday, November 7th. Mitsubishi UFJ Financial Group analyst M. Mcallister now anticipates that the oil and gas development company will post earnings of $2.63 per share for the quarter, down from their prior forecast of $2.89. Mitsubishi UFJ Financial Group also issued estimates for Pioneer Natural Resources’ Q2 2019 earnings at $2.78 EPS, Q3 2019 earnings at $2.94 EPS, Q4 2019 earnings at $3.11 EPS, FY2019 earnings at $11.47 EPS, Q1 2020 earnings at $3.17 EPS, Q2 2020 earnings at $3.24 EPS, Q3 2020 earnings at $3.22 EPS and FY2020 earnings at $13.05 EPS.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.38. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Pioneer Natural Resources had a return on equity of 9.47% and a net margin of 15.98%. Pioneer Natural Resources’s quarterly revenue was up 112.2% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $214.00 price target for the company in a research report on Tuesday, July 31st. Morgan Stanley reiterated a “buy” rating and set a $234.00 price target (down from $240.00) on shares of Pioneer Natural Resources in a research report on Friday, October 12th. Barclays started coverage on Pioneer Natural Resources in a research report on Wednesday, August 29th. They set an “overweight” rating and a $225.00 price target for the company. Seaport Global Securities cut Pioneer Natural Resources from a “buy” rating to a “neutral” rating and reduced their price target for the company from $230.00 to $210.00 in a research report on Wednesday, October 10th. Finally, Piper Jaffray Companies started coverage on Pioneer Natural Resources in a research report on Friday, September 28th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $235.96.

Shares of PXD stock opened at $150.30 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.20 and a quick ratio of 1.07. The company has a market cap of $27.23 billion, a P/E ratio of 69.58, a P/E/G ratio of 1.87 and a beta of 1.04. Pioneer Natural Resources has a twelve month low of $140.54 and a twelve month high of $213.40.

Institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Wealth Management LLC acquired a new stake in Pioneer Natural Resources in the second quarter valued at approximately $127,000. Kiley Juergens Wealth Management LLC boosted its stake in shares of Pioneer Natural Resources by 159.5% in the third quarter. Kiley Juergens Wealth Management LLC now owns 768 shares of the oil and gas development company’s stock worth $133,000 after acquiring an additional 472 shares during the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in shares of Pioneer Natural Resources in the second quarter worth approximately $207,000. Welch & Forbes LLC acquired a new stake in shares of Pioneer Natural Resources in the second quarter worth approximately $218,000. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in shares of Pioneer Natural Resources in the second quarter worth approximately $227,000. 89.12% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Company Profile

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.

Further Reading: Price to Earnings Ratio (PE) Basics

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

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