Q3 2023 EPS Estimates for Pioneer Natural Resources Lifted by Analyst (NYSE:PXD)

Posted by Defense World Staff on Sep 25th, 2023

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Pioneer Natural Resources (NYSE:PXD – Free Report) – Analysts at Zacks Research increased their Q3 2023 earnings per share estimates for shares of Pioneer Natural Resources in a note issued to investors on Friday, September 22nd. Zacks Research analyst U. Dutta now forecasts that the oil and gas development company will post earnings of $5.16 per share for the quarter, up from their prior forecast of $5.09. The consensus estimate for Pioneer Natural Resources’ current full-year earnings is $20.62 per share. Zacks Research also issued estimates for Pioneer Natural Resources’ Q4 2023 earnings at $5.76 EPS, FY2023 earnings at $20.62 EPS, Q1 2024 earnings at $5.90 EPS, Q3 2024 earnings at $5.72 EPS, Q4 2024 earnings at $5.57 EPS, FY2024 earnings at $22.95 EPS, Q1 2025 earnings at $5.81 EPS, Q2 2025 earnings at $5.87 EPS and FY2025 earnings at $22.86 EPS.

Pioneer Natural Resources (NYSE:PXD – Get Free Report) last posted its earnings results on Tuesday, August 1st. The oil and gas development company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $0.37. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.68 billion. Pioneer Natural Resources had a return on equity of 25.53% and a net margin of 28.46%.

A number of other brokerages also recently issued reports on PXD. Truist Financial lifted their price target on Pioneer Natural Resources from $196.00 to $225.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Jefferies Financial Group lifted their price target on Pioneer Natural Resources from $245.00 to $265.00 and gave the company a “hold” rating in a research report on Monday, August 28th. Wells Fargo & Company lifted their price target on Pioneer Natural Resources from $227.00 to $239.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Citigroup lifted their price target on Pioneer Natural Resources from $234.00 to $256.00 in a research report on Wednesday, September 20th. Finally, Evercore ISI dropped their price target on Pioneer Natural Resources from $253.00 to $243.00 in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.45.

Read Our Latest Research Report on Pioneer Natural Resources

Pioneer Natural Resources Stock Up 0.0 %

PXD stock opened at $223.07 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $52.01 billion, a PE ratio of 9.51, a PEG ratio of 1.27 and a beta of 1.43. Pioneer Natural Resources has a twelve month low of $177.26 and a twelve month high of $274.70. The stock has a 50-day simple moving average of $230.90 and a two-hundred day simple moving average of $215.47.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Wednesday, September 6th were given a $1.84 dividend. The ex-dividend date of this dividend was Tuesday, September 5th. This represents a $7.36 annualized dividend and a yield of 3.30%. Pioneer Natural Resources’s payout ratio is currently 21.31%.

Institutional Trading of Pioneer Natural Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Pioneer Natural Resources by 98,082.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 30,022,120 shares of the oil and gas development company’s stock valued at $6,219,983,000 after buying an additional 29,991,542 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Pioneer Natural Resources by 108.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,469,309 shares of the oil and gas development company’s stock valued at $859,012,000 after buying an additional 1,802,353 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Pioneer Natural Resources by 46.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock valued at $968,877,000 after buying an additional 1,343,601 shares during the period. Bank of Montreal Can purchased a new position in shares of Pioneer Natural Resources during the second quarter valued at approximately $260,488,000. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of Pioneer Natural Resources by 75,598.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 996,195 shares of the oil and gas development company’s stock valued at $227,521,000 after buying an additional 994,879 shares during the period. Institutional investors own 82.72% of the company’s stock.

About Pioneer Natural Resources

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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. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.