Pioneer Natural Resources (NYSE:PXD) – Research analysts at B. Riley issued their FY2017 earnings per share estimates for shares of Pioneer Natural Resources in a report issued on Monday. B. Riley analyst R. Rashid forecasts that the oil and gas development company will post earnings per share of $1.93 for the year. B. Riley currently has a “Buy” rating and a $305.00 target price on the stock. B. Riley also issued estimates for Pioneer Natural Resources’ Q4 2017 earnings at $0.99 EPS, Q1 2018 earnings at $1.80 EPS, Q2 2018 earnings at $1.57 EPS, Q3 2018 earnings at $1.70 EPS, Q4 2018 earnings at $2.07 EPS, FY2018 earnings at $6.93 EPS, Q1 2019 earnings at $2.22 EPS, Q2 2019 earnings at $2.24 EPS, Q3 2019 earnings at $2.50 EPS, Q4 2019 earnings at $2.99 EPS and FY2019 earnings at $9.96 EPS.
Several other equities research analysts also recently commented on PXD. Zacks Investment Research downgraded Pioneer Natural Resources from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Royal Bank of Canada set a $201.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a report on Sunday, October 15th. Wolfe Research downgraded Pioneer Natural Resources from an “outperform” rating to a “market perform” rating and set a $143.78 target price on the stock. in a report on Monday, October 16th. Williams Capital dropped their target price on Pioneer Natural Resources from $165.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, October 18th. Finally, Morgan Stanley dropped their target price on Pioneer Natural Resources from $202.00 to $197.00 and set an “overweight” rating on the stock in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $207.18.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.63. Pioneer Natural Resources had a return on equity of 3.51% and a net margin of 13.69%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The firm’s revenue was up 48.4% on a year-over-year basis.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be given a dividend of $0.16 per share. This represents a yield of 0.18%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio is 1.63%.
Pioneer Natural Resources announced that its Board of Directors has approved a share repurchase program on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas development company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, EVP Jerome D. Hall, Jr. sold 1,800 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $172.60, for a total transaction of $310,680.00. Following the completion of the sale, the executive vice president now owns 22,964 shares in the company, valued at $3,963,586.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard P. Dealy sold 5,523 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $164.23, for a total value of $907,042.29. Following the sale, the chief financial officer now owns 76,297 shares of the company’s stock, valued at approximately $12,530,256.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,106 shares of company stock valued at $4,444,339. 0.89% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its position in Pioneer Natural Resources by 20.2% during the third quarter. American Century Companies Inc. now owns 2,286,903 shares of the oil and gas development company’s stock valued at $337,410,000 after acquiring an additional 384,485 shares during the last quarter. Boston Partners increased its position in Pioneer Natural Resources by 51.2% during the fourth quarter. Boston Partners now owns 2,262,356 shares of the oil and gas development company’s stock valued at $391,048,000 after acquiring an additional 766,124 shares during the last quarter. Ameriprise Financial Inc. increased its position in Pioneer Natural Resources by 1.3% during the third quarter. Ameriprise Financial Inc. now owns 2,031,598 shares of the oil and gas development company’s stock valued at $299,386,000 after acquiring an additional 25,163 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Pioneer Natural Resources by 1.9% in the third quarter. Artisan Partners Limited Partnership now owns 1,844,299 shares of the oil and gas development company’s stock worth $272,108,000 after buying an additional 34,109 shares in the last quarter. Finally, Swedbank increased its position in Pioneer Natural Resources by 31.4% in the third quarter. Swedbank now owns 1,797,382 shares of the oil and gas development company’s stock worth $265,186,000 after buying an additional 429,705 shares in the last quarter. Institutional investors own 90.97% of the company’s stock.
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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