Pioneer Natural Resources (NYSE:PXD – Get Rating) – Research analysts at Capital One Financial boosted their Q2 2022 earnings per share estimates for Pioneer Natural Resources in a research report issued on Wednesday, May 18th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas development company will earn $8.87 per share for the quarter, up from their prior estimate of $6.38. Capital One Financial also issued estimates for Pioneer Natural Resources’ Q3 2022 earnings at $8.97 EPS, Q4 2022 earnings at $9.00 EPS, FY2022 earnings at $34.58 EPS and FY2023 earnings at $28.62 EPS.
PXD has been the subject of several other reports. Scotiabank downgraded shares of Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $260.00 to $270.00 in a report on Monday, April 18th. TD Securities upped their price objective on shares of Pioneer Natural Resources from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, May 5th. Susquehanna upped their price objective on shares of Pioneer Natural Resources from $258.00 to $278.00 and gave the stock a “positive” rating in a report on Monday, April 25th. Barclays upped their price objective on shares of Pioneer Natural Resources from $236.00 to $295.00 in a report on Friday, March 18th. Finally, Mizuho upped their target price on shares of Pioneer Natural Resources from $266.00 to $343.00 and gave the company a “buy” rating in a research note on Thursday, March 31st. Five 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $276.53.
Pioneer Natural Resources (NYSE:PXD – Get Rating) last posted its earnings results on Wednesday, May 4th. The oil and gas development company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.32 by $0.42. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $5.99 billion. Pioneer Natural Resources had a net margin of 22.85% and a return on equity of 21.01%. The company’s revenue for the quarter was up 152.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of the company. EP Wealth Advisors LLC bought a new position in shares of Pioneer Natural Resources in the 1st quarter valued at about $204,000. Capital World Investors boosted its stake in shares of Pioneer Natural Resources by 10.0% in the 1st quarter. Capital World Investors now owns 15,679,316 shares of the oil and gas development company’s stock valued at $3,920,478,000 after purchasing an additional 1,423,102 shares during the last quarter. Capital International Sarl bought a new position in shares of Pioneer Natural Resources in the 1st quarter valued at about $7,856,000. Capital Group International Inc. CA bought a new position in shares of Pioneer Natural Resources in the 1st quarter valued at about $1,143,000. Finally, Capital International Investors boosted its stake in shares of Pioneer Natural Resources by 25.1% in the 1st quarter. Capital International Investors now owns 7,639,978 shares of the oil and gas development company’s stock valued at $1,910,622,000 after purchasing an additional 1,534,853 shares during the last quarter. 87.65% of the stock is currently owned by institutional investors.
In other Pioneer Natural Resources news, EVP Mark Stephen Berg sold 2,500 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $274.41, for a total transaction of $686,025.00. Following the sale, the executive vice president now owns 49,546 shares of the company’s stock, valued at approximately $13,595,917.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Larry R. Grillot sold 500 shares of the stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $234.37, for a total transaction of $117,185.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,002 shares of company stock worth $25,293,266. 0.55% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Tuesday, May 31st will be issued a $7.38 dividend. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, May 27th. This represents a $29.52 annualized dividend and a dividend yield of 11.08%. Pioneer Natural Resources’s dividend payout ratio is presently 15.09%.
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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