Zacks: Brokerages Anticipate Pioneer Natural Resources (NYSE:PXD) Will Announce Quarterly Sales of $5.51 Billion

Equities research analysts expect that Pioneer Natural Resources (NYSE:PXDGet Rating) will post sales of $5.51 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Pioneer Natural Resources’ earnings, with the highest sales estimate coming in at $5.97 billion and the lowest estimate coming in at $5.15 billion. Pioneer Natural Resources posted sales of $2.44 billion during the same quarter last year, which would indicate a positive year over year growth rate of 125.8%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Pioneer Natural Resources will report full-year sales of $22.73 billion for the current financial year, with estimates ranging from $20.21 billion to $24.91 billion. For the next financial year, analysts forecast that the business will post sales of $20.93 billion, with estimates ranging from $17.60 billion to $22.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Pioneer Natural Resources.

Pioneer Natural Resources (NYSE:PXDGet Rating) last posted its earnings results on Wednesday, February 16th. The oil and gas development company reported $4.58 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.53. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.79 billion. Pioneer Natural Resources had a net margin of 14.46% and a return on equity of 15.04%. During the same quarter last year, the firm posted $1.07 EPS.

PXD has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Pioneer Natural Resources from $274.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 7th. Bank of America cut shares of Pioneer Natural Resources from a “buy” rating to a “neutral” rating and raised their price target for the company from $230.00 to $234.00 in a report on Monday, January 10th. MKM Partners lowered their price target on shares of Pioneer Natural Resources from $242.00 to $234.00 and set a “buy” rating on the stock in a report on Friday, February 18th. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “strong-buy” rating and set a $256.00 price target on the stock in a report on Friday, February 4th. Finally, Royal Bank of Canada raised their price target on shares of Pioneer Natural Resources from $255.00 to $275.00 in a report on Friday, February 18th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pioneer Natural Resources currently has a consensus rating of “Buy” and a consensus price target of $249.83.

NYSE PXD opened at $255.42 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.42 and a current ratio of 1.52. The company has a market capitalization of $62.04 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 1.13 and a beta of 1.58. The company’s 50-day simple moving average is $238.52 and its two-hundred day simple moving average is $206.74. Pioneer Natural Resources has a one year low of $133.73 and a one year high of $260.00.

The company also recently announced a quarterly dividend, which was paid on Monday, March 14th. Stockholders of record on Monday, February 28th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.22%. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, February 25th. Pioneer Natural Resources’s payout ratio is 30.06%.

In related news, Director Larry R. Grillot sold 500 shares of the business’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $234.37, for a total value of $117,185.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris J. Cheatwood sold 4,653 shares of the business’s stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $257.19, for a total transaction of $1,196,705.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,502 shares of company stock valued at $24,082,861. Insiders own 0.63% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PXD. Capital World Investors boosted its stake in Pioneer Natural Resources by 18.4% during the 3rd quarter. Capital World Investors now owns 12,922,031 shares of the oil and gas development company’s stock worth $2,151,697,000 after purchasing an additional 2,011,643 shares during the last quarter. Capital International Investors boosted its position in shares of Pioneer Natural Resources by 45.1% during the 4th quarter. Capital International Investors now owns 6,105,125 shares of the oil and gas development company’s stock valued at $1,110,392,000 after acquiring an additional 1,898,932 shares during the last quarter. Abrams Bison Investments LLC acquired a new position in shares of Pioneer Natural Resources during the 4th quarter valued at about $108,764,000. Eaton Vance Management boosted its position in shares of Pioneer Natural Resources by 1,278.7% during the 4th quarter. Eaton Vance Management now owns 582,014 shares of the oil and gas development company’s stock valued at $105,524,000 after acquiring an additional 539,799 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Pioneer Natural Resources by 26.4% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,499,762 shares of the oil and gas development company’s stock valued at $416,236,000 after acquiring an additional 522,454 shares during the last quarter. 85.41% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Company Profile (Get Rating)

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 in the Midland Basin in West Texas. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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