$6.60 Billion in Sales Expected for Pioneer Natural Resources (NYSE:PXD) This Quarter

Wall Street brokerages predict that Pioneer Natural Resources (NYSE:PXDGet Rating) will report $6.60 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Pioneer Natural Resources’ earnings, with estimates ranging from $6.20 billion to $7.20 billion. Pioneer Natural Resources reported sales of $3.42 billion during the same quarter last year, which would suggest a positive year over year growth rate of 93%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Pioneer Natural Resources will report full year sales of $25.59 billion for the current fiscal year, with estimates ranging from $24.42 billion to $27.21 billion. For the next year, analysts expect that the company will post sales of $24.46 billion, with estimates ranging from $21.83 billion to $29.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Pioneer Natural Resources.

Pioneer Natural Resources (NYSE:PXDGet Rating) last released its earnings results on Wednesday, May 4th. The oil and gas development company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.32 by $0.42. Pioneer Natural Resources had a net margin of 22.85% and a return on equity of 21.01%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. Pioneer Natural Resources’s revenue was up 152.5% compared to the same quarter last year.

PXD has been the subject of several research analyst reports. TD Securities increased their target price on shares of Pioneer Natural Resources from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Credit Suisse Group raised their target price on shares of Pioneer Natural Resources from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, February 17th. Truist Financial lifted their price objective on shares of Pioneer Natural Resources from $245.00 to $281.00 in a research report on Thursday, April 21st. Scotiabank lowered shares of Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $260.00 to $270.00 in a research report on Monday, April 18th. Finally, Zacks Investment Research raised Pioneer Natural Resources from a “hold” rating to a “strong-buy” rating and set a $256.00 price target for the company in a research note on Friday, February 4th. 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. According to MarketBeat.com, Pioneer Natural Resources presently has a consensus rating of “Buy” and a consensus target price of $276.89.

NYSE:PXD opened at $277.86 on Thursday. The company has a fifty day moving average of $252.00 and a two-hundred day moving average of $220.81. The stock has a market capitalization of $67.23 billion, a PE ratio of 16.91, a P/E/G ratio of 0.96 and a beta of 1.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.42 and a current ratio of 1.54. Pioneer Natural Resources has a fifty-two week low of $133.73 and a fifty-two week high of $279.98.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Tuesday, May 31st will be paid a dividend of $7.38 per share. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, May 27th. This represents a $29.52 annualized dividend and a yield of 10.62%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 15.09%.

In other Pioneer Natural Resources news, Director Larry R. Grillot sold 500 shares of Pioneer Natural Resources stock in a transaction on Monday, February 28th. The shares were sold at an average price of $234.37, for a total transaction of $117,185.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark H. Kleinman sold 7,745 shares of the business’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $224.55, for a total value of $1,739,139.75. The disclosure for this sale can be found here. Insiders have sold a total of 102,502 shares of company stock worth $24,950,261 over the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Large investors have recently modified their holdings of the company. Capital World Investors increased its position in shares of 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 valued at $2,151,697,000 after purchasing an additional 2,011,643 shares during the last quarter. Capital International Investors boosted its stake in Pioneer Natural Resources by 45.1% in the 4th quarter. Capital International Investors now owns 6,105,125 shares of the oil and gas development company’s stock worth $1,110,392,000 after purchasing an additional 1,898,932 shares during the period. First Trust Advisors LP boosted its position in shares of Pioneer Natural Resources by 236.0% during the 1st quarter. First Trust Advisors LP now owns 1,632,267 shares of the oil and gas development company’s stock valued at $408,116,000 after acquiring an additional 1,146,401 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Pioneer Natural Resources by 20.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,290,431 shares of the oil and gas development company’s stock valued at $1,322,766,000 after acquiring an additional 903,653 shares during the last quarter. Finally, Abrams Bison Investments LLC purchased a new position in shares of Pioneer Natural Resources during the 4th quarter valued at about $108,764,000. 87.65% of the stock is currently owned by institutional investors.

About Pioneer Natural Resources (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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