Analysts are weighing in on how Pioneer Natural Resources (NYSE:PXD), might perform in the near term. Wall Street analysts have a much favorable assessment of the stock, with a mean rating of 1.8. The stock is rated as buy by 21 analysts, with 12 outperform and 5 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.
For the current quarter, the 39.00 analysts offering adjusted EPS forecast have a consensus estimate of $-0.40 a share, which would compare with $0.10 in the same quarter last year. They have a high estimate of $-0.13 and a low estimate of $-0.60. Revenue for the period is expected to total nearly $801.93M from $648.00M the year-ago period.
For the full year, 37.00 Wall Street analysts forecast this company would deliver earnings of -0.97 per share, with a high estimate of $0.23 and a low estimate of $-2.08. It had reported earnings per share of $-0.12 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $3.31B versus 4.82B in the preceding year.
The analysts project the company to maintain annual growth of around -14.10% percent over the next five years as compared to an average growth rate of 8.52% percent expected for its competitors in the same industry.
Among the 40 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for PXD is $190.39 but some analysts are projecting the price to go as high as $239.00. If the optimistic analysts are correct, that represents a 49 percent upside potential from the recent closing price of $160.59. Some sell-side analysts, particularly the bearish ones, have called for $147.00 price targets on shares of Pioneer Natural Resources (NYSE:PXD).
In the last reported results, the company reported earnings of $0.10 per share, while analysts were calling for share earnings of $0.05. It was an earnings surprise of 100.00%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Pioneer Natural Resources Company engages in the development, exploration, and production of oil and gas in the United States. The company produces and sells oil, natural gas liquids (NGLs), and gas. It has operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeastern Colorado, and the West Panhandle field in the Texas Panhandle. As of December 31, 2015, the company had proved undeveloped reserves and proved developed reserves of approximately 47 million Bbls of oil, 15 million Bbls of NGLs, and 157 billion cubic feet of gas; and owned interests in seven gas processing plants and eight treating facilities. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.