Pioneer Natural Resources (NYSE:PXD) Announces Quarterly Earnings Results

Pioneer Natural Resources (NYSE:PXDGet Rating) issued its earnings results on Wednesday. The oil and gas development company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.61 by $1.13, MarketWatch Earnings reports. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $5.99 billion. Pioneer Natural Resources had a return on equity of 21.19% and a net margin of 22.85%. Pioneer Natural Resources’s revenue for the quarter was up 152.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 earnings per share.

Shares of Pioneer Natural Resources stock traded up $13.70 during trading on Friday, hitting $270.18. 4,255,430 shares of the company’s stock traded hands, compared to its average volume of 1,848,408. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.42. Pioneer Natural Resources has a 1 year low of $133.73 and a 1 year high of $272.47. The stock has a market capitalization of $65.62 billion, a P/E ratio of 16.44, a PEG ratio of 0.91 and a beta of 1.53. The business has a 50-day simple moving average of $244.75 and a 200-day simple moving average of $214.11.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Tuesday, May 31st will be given a dividend of $7.38 per share. The ex-dividend date is Friday, May 27th. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.78. This represents a $29.52 annualized dividend and a dividend yield of 10.93%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 15.09%.

A number of research firms have recently weighed in on PXD. Susquehanna Bancshares increased their price objective on Pioneer Natural Resources from $258.00 to $278.00 and gave the company a “positive” rating in a research note on Monday, April 25th. Morgan Stanley raised their price target on Pioneer Natural Resources from $213.00 to $272.00 and gave the stock an “equal weight” rating in a research note on Friday, April 22nd. Truist Financial raised their price target on Pioneer Natural Resources from $245.00 to $281.00 in a research note on Thursday, April 21st. TD Securities raised their price target on Pioneer Natural Resources from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada increased their price objective on Pioneer Natural Resources from $255.00 to $275.00 in a report on Friday, February 18th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $275.32.

In other Pioneer Natural Resources news, CEO Scott D. Sheffield sold 23,147 shares of the firm’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $254.87, for a total value of $5,899,475.89. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J Kenneth Thompson sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $228.67, for a total value of $343,005.00. The disclosure for this sale can be found here. Insiders have sold 99,502 shares of company stock worth $24,082,861 over the last ninety days. 0.55% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of PXD. Cubist Systematic Strategies LLC lifted its position in shares of Pioneer Natural Resources by 712.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 14,484 shares of the oil and gas development company’s stock valued at $2,634,000 after buying an additional 12,701 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Pioneer Natural Resources by 4.9% during the 4th quarter. Cetera Investment Advisers now owns 2,136 shares of the oil and gas development company’s stock valued at $389,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Pioneer Natural Resources by 11.7% during the 4th quarter. Advisors Asset Management Inc. now owns 20,300 shares of the oil and gas development company’s stock valued at $3,692,000 after buying an additional 2,131 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Pioneer Natural Resources by 142.2% during the 4th quarter. 1832 Asset Management L.P. now owns 35,700 shares of the oil and gas development company’s stock valued at $6,540,000 after buying an additional 20,963 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Pioneer Natural Resources during the 4th quarter valued at approximately $243,000. 87.65% of the stock is currently owned by hedge funds and other 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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Earnings History for Pioneer Natural Resources (NYSE:PXD)

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