FY2022 EPS Estimates for Pioneer Natural Resources (NYSE:PXD) Decreased by Analyst

Pioneer Natural Resources (NYSE:PXD – Get Rating) – Equities research analysts at KeyCorp lowered their FY2022 earnings estimates for Pioneer Natural Resources in a report released on Sunday, January 8th. KeyCorp analyst T. Rezvan now expects that the oil and gas development company will post earnings per share of $30.70 for the year, down from their previous estimate of $30.91. KeyCorp has a “Overweight” rating and a $260.00 price target on the stock. The consensus estimate for Pioneer Natural Resources’ current full-year earnings is $31.09 per share. KeyCorp also issued estimates for Pioneer Natural Resources’ Q4 2022 earnings at $6.04 EPS, Q1 2023 earnings at $6.06 EPS, Q2 2023 earnings at $5.90 EPS, Q3 2023 earnings at $5.92 EPS, Q4 2023 earnings at $5.91 EPS, FY2023 earnings at $23.79 EPS, Q1 2024 earnings at $6.30 EPS, Q2 2024 earnings at $5.94 EPS, Q3 2024 earnings at $5.82 EPS, Q4 2024 earnings at $6.25 EPS and FY2024 earnings at $24.31 EPS.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The oil and gas development company reported $7.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.43 by $0.05. Pioneer Natural Resources had a net margin of 30.33% and a return on equity of 31.82%. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $6.56 billion.

Several other analysts also recently issued reports on PXD. Truist Financial increased their price objective on shares of Pioneer Natural Resources from $219.00 to $261.00 in a research report on Monday, October 31st. Jefferies Financial Group started coverage on shares of Pioneer Natural Resources in a research report on Wednesday, October 19th. They issued a “hold” rating and a $261.00 price objective for the company. Credit Suisse Group raised their price target on shares of Pioneer Natural Resources from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, October 28th. Morgan Stanley downgraded shares of Pioneer Natural Resources from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $267.00 to $261.00 in a research report on Wednesday, October 19th. Finally, StockNews.com started coverage on shares of Pioneer Natural Resources in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $278.78.

Pioneer Natural Resources Stock Up 0.4 %

Shares of NYSE:PXD opened at $231.16 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.03 and a debt-to-equity ratio of 0.18. Pioneer Natural Resources has a 52-week low of $194.54 and a 52-week high of $288.46. The company has a 50 day moving average of $236.82 and a two-hundred day moving average of $235.25. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 1.05 and a beta of 1.41.

Hedge Funds Weigh In On Pioneer Natural Resources

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Pioneer Natural Resources by 2.7% in the third quarter. Vanguard Group Inc. now owns 19,283,043 shares of the oil and gas development company’s stock valued at $4,175,358,000 after buying an additional 511,005 shares during the last quarter. Capital World Investors lifted its stake in Pioneer Natural Resources by 10.0% in the first 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 buying an additional 1,423,102 shares during the last quarter. Capital International Investors lifted its stake in Pioneer Natural Resources by 25.1% in the first 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 buying an additional 1,534,853 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Pioneer Natural Resources by 9.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,078,403 shares of the oil and gas development company’s stock valued at $1,532,686,000 after buying an additional 589,073 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Pioneer Natural Resources by 144.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,346,688 shares of the oil and gas development company’s stock valued at $969,659,000 after buying an additional 2,569,044 shares during the last quarter. Institutional investors and hedge funds own 89.75% of the company’s stock.

Pioneer Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were issued a $5.71 dividend. This represents a $22.84 dividend on an annualized basis and a yield of 9.88%. The ex-dividend date was Tuesday, November 29th. Pioneer Natural Resources’s dividend payout ratio is presently 15.69%.

Pioneer Natural Resources Company Profile

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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.