Pioneer Natural Resources (NYSE:PXD – Get Rating) – Stock analysts at Capital One Financial reduced their Q3 2022 earnings per share estimates for Pioneer Natural Resources in a report issued on Friday, July 22nd. Capital One Financial analyst P. Johnston now expects that the oil and gas development company will post earnings of $6.77 per share for the quarter, down from their prior estimate of $6.79. The consensus estimate for Pioneer Natural Resources’ current full-year earnings is $34.14 per share. Capital One Financial also issued estimates for Pioneer Natural Resources’ Q1 2023 earnings at $5.70 EPS, Q2 2023 earnings at $5.80 EPS, Q3 2023 earnings at $5.94 EPS and Q4 2023 earnings at $6.05 EPS.
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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.32 by $0.42. Pioneer Natural Resources had a return on equity of 21.01% and a net margin of 22.85%. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $5.99 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. The company’s revenue was up 152.5% on a year-over-year basis.
Pioneer Natural Resources Stock Down 1.6 %
PXD stock opened at $209.80 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.54 and a quick ratio of 1.42. The stock has a market capitalization of $50.76 billion, a P/E ratio of 12.77, a P/E/G ratio of 0.72 and a beta of 1.56. The business has a 50-day moving average of $244.70 and a 200-day moving average of $238.31. Pioneer Natural Resources has a fifty-two week low of $137.54 and a fifty-two week high of $288.46.
Institutional Trading of Pioneer Natural Resources
Hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in Pioneer Natural Resources during the 1st quarter worth approximately $29,000. Atria Investments LLC lifted its holdings in Pioneer Natural Resources by 30.3% during the 1st quarter. Atria Investments LLC now owns 23,852 shares of the oil and gas development company’s stock worth $5,964,000 after purchasing an additional 5,545 shares during the last quarter. Chevy Chase Trust Holdings Inc. lifted its holdings in Pioneer Natural Resources by 0.3% during the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 136,540 shares of the oil and gas development company’s stock worth $34,139,000 after purchasing an additional 377 shares during the last quarter. PFG Private Wealth Management LLC bought a new position in Pioneer Natural Resources during the 1st quarter worth $102,000. Finally, Griffin Asset Management Inc. increased its stake in Pioneer Natural Resources by 10.8% during the 4th quarter. Griffin Asset Management Inc. now owns 5,754 shares of the oil and gas development company’s stock worth $1,047,000 after acquiring an additional 560 shares during the period. 87.65% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Pioneer Natural Resources
In other Pioneer Natural Resources news, EVP Mark Stephen Berg sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $274.41, for a total value of $686,025.00. Following the sale, the executive vice president now owns 49,546 shares in the company, valued at $13,595,917.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jerome D. Hall, Jr. sold 2,000 shares of Pioneer Natural Resources stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $262.19, for a total transaction of $524,380.00. Following the completion of the sale, the executive vice president now directly owns 53,006 shares of the company’s stock, valued at approximately $13,897,643.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Stephen Berg sold 2,500 shares of Pioneer Natural Resources stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $274.41, for a total value of $686,025.00. Following the sale, the executive vice president now directly owns 49,546 shares of the company’s stock, valued at $13,595,917.86. The disclosure for this sale can be found here. Insiders have sold 8,835 shares of company stock worth $2,439,657 over the last 90 days. Company insiders own 0.55% of the company’s stock.
Pioneer Natural Resources Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 31st were paid a $7.38 dividend. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.78. The ex-dividend date was Friday, May 27th. This represents a $29.52 annualized dividend and a yield of 14.07%. Pioneer Natural Resources’s dividend payout ratio is currently 16.37%.
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 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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