Pioneer Natural Resources (NYSE:PXD) – B. Riley reduced their Q2 2019 earnings estimates for shares of Pioneer Natural Resources in a research report issued to clients and investors on Thursday, June 13th. B. Riley analyst R. Rashid now forecasts that the oil and gas development company will earn $1.83 per share for the quarter, down from their prior estimate of $2.18. B. Riley also issued estimates for Pioneer Natural Resources’ Q3 2019 earnings at $1.72 EPS, Q1 2020 earnings at $2.00 EPS, Q2 2020 earnings at $2.11 EPS, Q3 2020 earnings at $2.27 EPS, Q4 2020 earnings at $2.34 EPS and FY2020 earnings at $8.72 EPS.
Several other equities research analysts have also weighed in on PXD. ValuEngine upgraded shares of Pioneer Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. Morgan Stanley increased their price objective on shares of Pioneer Natural Resources from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. S&P Equity Research restated an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of Pioneer Natural Resources in a research report on Wednesday, May 8th. Goldman Sachs Group cut shares of Pioneer Natural Resources to a “buy” rating in a research report on Friday, April 12th. Finally, Macquarie upgraded shares of Pioneer Natural Resources from a “neutral” rating to an “outperform” rating and set a $168.32 target price for the company in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $205.51.
Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Monday, May 6th. The oil and gas development company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.19 billion. Pioneer Natural Resources had a net margin of 11.89% and a return on equity of 9.31%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Pioneer Natural Resources by 0.7% during the fourth quarter. BlackRock Inc. now owns 11,006,161 shares of the oil and gas development company’s stock valued at $1,447,530,000 after purchasing an additional 79,316 shares during the last quarter. Baupost Group LLC MA lifted its position in shares of Pioneer Natural Resources by 12.5% in the 4th quarter. Baupost Group LLC MA now owns 4,500,000 shares of the oil and gas development company’s stock valued at $591,840,000 after acquiring an additional 500,000 shares in the last quarter. Boston Partners lifted its position in shares of Pioneer Natural Resources by 28.8% in the 1st quarter. Boston Partners now owns 3,596,532 shares of the oil and gas development company’s stock valued at $547,679,000 after acquiring an additional 804,760 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Pioneer Natural Resources by 11.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,177,174 shares of the oil and gas development company’s stock valued at $483,820,000 after acquiring an additional 334,024 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Pioneer Natural Resources by 0.8% in the 1st quarter. Northern Trust Corp now owns 2,064,867 shares of the oil and gas development company’s stock valued at $314,438,000 after acquiring an additional 15,675 shares in the last quarter. 87.98% of the stock is owned by institutional investors and hedge funds.
In related news, CAO Margaret Montemayor sold 888 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.38, for a total transaction of $136,201.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.91% of the stock is owned by corporate insiders.
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.
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