Pioneer Natural Resources (NYSE:PXD) – Research analysts at Oppenheimer dropped their FY2018 earnings estimates for shares of Pioneer Natural Resources in a research report issued on Thursday, January 17th. Oppenheimer analyst T. Rezvan now anticipates that the oil and gas development company will post earnings of $7.28 per share for the year, down from their prior estimate of $7.33. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Pioneer Natural Resources’ Q4 2018 earnings at $2.16 EPS.
Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.38. Pioneer Natural Resources had a return on equity of 9.47% and a net margin of 15.98%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company posted $0.48 EPS. The firm’s quarterly revenue was up 112.2% compared to the same quarter last year.
PXD has been the topic of a number of other reports. Mizuho set a $206.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a report on Wednesday, November 28th. KeyCorp initiated coverage on Pioneer Natural Resources in a report on Thursday, December 20th. They issued an “overweight” rating and a $170.00 price objective on the stock. Wells Fargo & Co raised Pioneer Natural Resources from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 11th. Williams Capital set a $231.00 price objective on Pioneer Natural Resources and gave the company a “hold” rating in a report on Wednesday, November 7th. Finally, Barclays cut their price objective on Pioneer Natural Resources from $219.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $229.43.
Shares of PXD stock opened at $144.90 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $24.70 billion, a PE ratio of 67.08, a PEG ratio of 1.35 and a beta of 1.10. Pioneer Natural Resources has a fifty-two week low of $119.08 and a fifty-two week high of $213.40.
Pioneer Natural Resources announced that its Board of Directors has initiated a share buyback program on Thursday, December 13th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the oil and gas development company to purchase up to 8.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Andrew F. Cates purchased 790 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The stock was purchased at an average price of $124.27 per share, with a total value of $98,173.30. Following the completion of the acquisition, the director now owns 13,370 shares in the company, valued at $1,661,489.90. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy L. Dove sold 4,800 shares of the stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $134.18, for a total value of $644,064.00. Following the completion of the sale, the chief executive officer now directly owns 276,901 shares of the company’s stock, valued at approximately $37,154,576.18. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in shares of Pioneer Natural Resources by 27.9% in the second quarter. FMR LLC now owns 6,431,051 shares of the oil and gas development company’s stock valued at $1,217,012,000 after buying an additional 1,401,626 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in Pioneer Natural Resources by 11.3% in the second quarter. OppenheimerFunds Inc. now owns 7,672 shares of the oil and gas development company’s stock valued at $1,452,000 after purchasing an additional 781 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Pioneer Natural Resources by 211.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,482 shares of the oil and gas development company’s stock valued at $281,000 after purchasing an additional 1,006 shares during the period. Northern Trust Corp boosted its holdings in Pioneer Natural Resources by 0.3% in the second quarter. Northern Trust Corp now owns 2,007,607 shares of the oil and gas development company’s stock valued at $379,919,000 after purchasing an additional 5,666 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new position in Pioneer Natural Resources in the second quarter valued at $13,154,000. 87.09% of the stock is owned by institutional investors.
About Pioneer Natural Resources
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.