Pioneer Natural Resources (NYSE:PXD) FY2022 EPS Estimates Lifted by Capital One Financial
Pioneer Natural Resources (NYSE:PXD – Get Rating) – Equity researchers at Capital One Financial raised their fiscal year 2022 earnings estimates for shares of Pioneer Natural Resources in a note to investors on Wednesday, August 3. Capital One Financial analyst P. Johnston now expects the oil and gas developer to post earnings of $30.72 per share for the year, up from its previous estimate of $30.11. . Pioneer Natural Resources’ current annual earnings consensus estimate is $33.25 per share.
Pioneer Natural Resources (NYSE:PXD – Get Rating) last released its quarterly results on Tuesday, August 2. The oil and gas development company reported earnings per share of $9.36 for the quarter, beating analysts’ consensus estimate of $8.63 by $0.73. Pioneer Natural Resources had a net margin of 28.29% and a return on equity of 28.26%. During the same period a year earlier, the company posted EPS of $2.55.
Other equity research analysts have also recently released reports on the stock. Royal Bank of Canada downgraded shares of Pioneer Natural Resources from an “outperform” rating to an “sector performer” rating and set a price target of $290.00 for the stock. in a report on Wednesday, July 6. Credit Suisse Group cut its price target on shares of Pioneer Natural Resources from $290.00 to $280.00 and set an “outperform” rating on the stock in a research report Wednesday. Scotiabank cut shares of Pioneer Natural Resources from an “outperform” rating to an “sector performer” rating and raised its target price for the stock from $260.00 to $270.00 in a Monday, April 18 report. MKM Partners restated a “buy” rating and issued a target price of $264.00 on shares of Pioneer Natural Resources in a Wednesday, July 20 report. Finally, Mizuho cut its price target on shares of Pioneer Natural Resources from $342.00 to $334.00 and set a “buy” rating on the stock in a Tuesday, July 19 report. One financial analyst has assigned the stock a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have assigned the stock a strong buy rating. According to MarketBeat, Pioneer Natural Resources currently has an average rating of “Moderate Buy” and an average target price of $288.35.
Pioneer Natural Resources Price Performance
NYSE PXD opened at $212.86 on Friday. The company has a market capitalization of $51.50 billion, a PE ratio of 8.80, a growth price-earnings ratio of 0.78 and a beta of 1.51. Pioneer Natural Resources has a 52-week low of $137.54 and a 52-week high of $288.46. The company has a quick ratio of 1.42, a current ratio of 1.33 and a leverage ratio of 0.19. The company’s 50-day simple moving average is $236.15 and its two-hundred-day simple moving average is $239.00.
Pioneer Natural Resources increases its dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16. Investors of record on Tuesday, September 6 will receive a dividend of $8.57. The ex-dividend date is Friday, September 2. This is a boost from Pioneer Natural Resources’ previous quarterly dividend of $7.38. This represents a dividend of $34.28 on an annualized basis and a yield of 16.10%. Pioneer Natural Resources’ payout ratio is currently 11.12%.
Insider buying and selling
In related news, Executive Vice President Mark Stephen Berg sold 2,500 shares of the company in a trade that took place on Wednesday, June 8. The stock was sold at an average price of $286.90, for a total value of $717,250.00. Following the transaction, the executive vice president now directly owns 47,046 shares of the company, valued at approximately $13,497,497.40. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. In other news, Executive Vice President Mark Stephen Berg sold 2,500 shares of the company in a trade that took place on Wednesday, June 8. The stock was sold at an average price of $286.90, for a total transaction of $717,250.00. Following the sale, the executive vice president now directly owns 47,046 shares of the company, valued at approximately $13,497,497.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, SVP Tyson L. Taylor sold 1,835 shares of the company in a trade that took place on Friday, June 3. The stock was sold at an average price of $279.02, for a total value of $512,001.70. Following the sale, the senior vice president now directly owns 4,876 shares of the company, valued at $1,360,501.52. The disclosure of this sale can be found here. In the past three months, insiders have sold 8,835 shares of the company valued at $2,439,657. Company insiders own 0.55% of the company’s shares.
Institutional trade in pioneering natural resources
Several hedge funds have recently changed their holdings in the company. Covestor Ltd bought a new position in shares of Pioneer Natural Resources during the 4th quarter, valued at approximately $27,000. Selective Wealth Management Inc. bought a new position in shares of Pioneer Natural Resources during Q2 valued at around $28,000. Riverview Trust Co bought a new position in Pioneer Natural Resources in Q1 worth $29,000. Atwood & Palmer Inc. bought a new position in Pioneer Natural Resources in Q2 worth $30,000. Finally, JFS Wealth Advisors LLC increased its position in Pioneer Natural Resources by 79.2% in the 2nd quarter. JFS Wealth Advisors LLC now owns 138 shares of the oil and gas development company valued at $31,000 after acquiring 61 additional shares in the last quarter. 87.65% of the shares are held by hedge funds and other institutional investors.
Pioneer Natural Resources Company Profile
(Get a 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 petroleum, natural gas liquids (NGLs) and gas. It operates 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 held stakes in 11 gas processing plants.
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