Brokers Issue Forecasts for Pioneer Natural Resources Co.’s FY2016 Earnings (PXD)

Pioneer Natural Resources Co. (NYSE:PXD) – Research analysts at Williams Capital reduced their FY2016 earnings per share estimates for Pioneer Natural Resources in a report issued on Monday. Williams Capital analyst G. Sorbara now expects that the brokerage will earn ($0.40) per share for the year, down from their prior forecast of ($0.37). Williams Capital has a “Buy” rating and a $217.00 price target on the stock.

PXD has been the subject of several other reports. KeyCorp increased their price target on shares of Pioneer Natural Resources from $190.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, August 22nd. Credit Suisse Group AG reissued an “outperform” rating and set a $212.00 price target (up from $182.25) on shares of Pioneer Natural Resources in a research report on Wednesday, August 24th. Wunderlich increased their price target on shares of Pioneer Natural Resources from $182.00 to $207.00 and gave the company a “buy” rating in a research report on Monday, October 10th. Mizuho started coverage on shares of Pioneer Natural Resources in a research report on Wednesday, October 5th. They set a “neutral” rating and a $196.00 price target for the company. Finally, KLR Group reissued a “buy” rating and set a $238.00 price target (up from $218.00) on shares of Pioneer Natural Resources in a research report on Sunday, July 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $181.63.

Earnings History and Estimates for Pioneer Natural Resources (NYSE:PXD)

Pioneer Natural Resources (NYSE:PXD) traded up 3.24% on Wednesday, hitting $190.00. The stock had a trading volume of 704,319 shares. The company’s 50 day moving average is $182.68 and its 200-day moving average is $165.74. Pioneer Natural Resources has a 1-year low of $103.50 and a 1-year high of $193.39. The firm’s market capitalization is $32.23 billion.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Wednesday, July 27th. The oil and gas development company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.12. The company had revenue of $786 million for the quarter, compared to the consensus estimate of $797.28 million. Pioneer Natural Resources had a negative return on equity of 1.79% and a negative net margin of 10.75%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS.

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Pioneer Natural Resources by 16.4% in the first quarter. Wellington Management Group LLP now owns 12,461,118 shares of the oil and gas development company’s stock worth $1,753,777,000 after buying an additional 1,752,025 shares in the last quarter. FMR LLC increased its position in shares of Pioneer Natural Resources by 24.7% in the second quarter. FMR LLC now owns 5,712,022 shares of the oil and gas development company’s stock worth $863,716,000 after buying an additional 1,129,791 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Pioneer Natural Resources by 240.8% in the first quarter. Lazard Asset Management LLC now owns 1,542,686 shares of the oil and gas development company’s stock worth $217,116,000 after buying an additional 1,089,989 shares in the last quarter. Ingalls & Snyder LLC bought a new position in shares of Pioneer Natural Resources during the second quarter worth approximately $162,153,000. Finally, State Street Corp increased its position in shares of Pioneer Natural Resources by 11.7% in the first quarter. State Street Corp now owns 9,717,623 shares of the oil and gas development company’s stock worth $1,367,654,000 after buying an additional 1,017,873 shares in the last quarter. Institutional investors own 93.53% of the company’s stock.

In other Pioneer Natural Resources news, Director Frank A. Risch sold 500 shares of the business’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $185.08, for a total transaction of $92,540.00. Following the sale, the director now directly owns 11,156 shares in the company, valued at $2,064,752.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Timothy L. Dove sold 57,363 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $176.29, for a total transaction of $10,112,523.27. Following the sale, the chief operating officer now owns 289,693 shares in the company, valued at $51,069,978.97. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 12th. Shareholders of record on Friday, September 30th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.09%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently -2.52%.

About Pioneer Natural Resources

Pioneer Natural Resources Company is an independent oil and gas exploration and production company with operations in the United States. The Company operates through the oil and gas development, exploration and production segment. The Company focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties.

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