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Pioneer Natural (PXD) to Post Q3 Earnings: What's in Store?
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Pioneer Natural Resources Company (PXD - Free Report) is set to report third-quarter 2022 results on Oct 27, after the closing bell.
In the last reported quarter, the upstream company’s earnings of $9.36 per share (excluding one-time items) beat the Zacks Consensus Estimate of $8.81, owing to higher oil-equivalent production volumes and commodity price realizations.
Pioneer Natural beat the Zacks Consensus Estimate for earnings in the trailing four quarters, delivering an earnings surprise of 8%, on average. This is depicted in the graph below:
Pioneer Natural Resources Company Price and EPS Surprise
The Zacks Consensus Estimate for Pioneer Natural’s third-quarter earnings per share of $7.64 has witnessed one upward and six downward movements in the past 30 days. The consensus estimate suggests an increase of 85% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $6.6 billion indicates a 47.7% year-over-year improvement.
Factors to Consider
The West Texas Intermediate crude price was considerably higher in the third quarter of this year. Higher oil price was favorable for the exploration and production activities of Pioneer Natural.
However, the Zacks Consensus Estimate for the company’s average daily total sales volume is pegged at 646,934 barrels of oil equivalent, suggesting a decline from 675,793 barrels of oil equivalent reported in the year-ago quarter. Our estimate for average daily total sales volume is pegged at 642.1 thousand barrels of oil equivalent, also indicating a decline from the prior-year quarter’s reported figure.
Also, the Zacks Consensus Estimate for Pioneer Natural’s average daily sales volume for oil is pegged at 355,320 barrels, suggesting a decline from 388,829 barrels in the year-ago quarter. Our estimate for average daily total sales volume is pegged at 357.3 thousand barrels, also indicating a decline from the prior-year quarter’s reported figure.
Lower production is likely to have affected Pioneer Natural’s performance in the third quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Pioneer Natural this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Pioneer Natural has an Earnings ESP of -3.26%. This is because the Most Accurate Estimate is currently pegged at earnings of $7.39 per share, whereas the Zacks Consensus Estimate is pinned at $7.64 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PXD currently has a Zacks Rank #3.
Stocks That Warrant a Look
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly results:
Core Laboratories is scheduled to release third-quarter results on Oct 26. The Zacks Consensus Estimate for CLB’s earnings is pegged at 15 cents per share, suggesting a decline from the prior-year reported figure.
Chevron Corporation (CVX - Free Report) currently has an Earnings ESP of +0.28% and a Zacks Rank #3.
Chevron is scheduled to release third-quarter earnings on Oct 28. The Zacks Consensus Estimate for CVX’s earnings is pegged at $5.10 per share, suggesting a massive increase from the prior-year reported figure.
EQT Corporation (EQT - Free Report) is set to release third-quarter 2022 results on Oct 26. EQT has an Earnings ESP of +2.29% and a Zacks Rank #2.
The Zacks Consensus Estimate for third-quarter 2022 earnings of EQT is $1.05 per share, suggesting a significant improvement from the prior-year period’s reported number.
Image: Bigstock
Pioneer Natural (PXD) to Post Q3 Earnings: What's in Store?
Pioneer Natural Resources Company (PXD - Free Report) is set to report third-quarter 2022 results on Oct 27, after the closing bell.
In the last reported quarter, the upstream company’s earnings of $9.36 per share (excluding one-time items) beat the Zacks Consensus Estimate of $8.81, owing to higher oil-equivalent production volumes and commodity price realizations.
Pioneer Natural beat the Zacks Consensus Estimate for earnings in the trailing four quarters, delivering an earnings surprise of 8%, on average. This is depicted in the graph below:
Pioneer Natural Resources Company Price and EPS Surprise
Pioneer Natural Resources Company price-eps-surprise | Pioneer Natural Resources Company Quote
Estimate Trend
The Zacks Consensus Estimate for Pioneer Natural’s third-quarter earnings per share of $7.64 has witnessed one upward and six downward movements in the past 30 days. The consensus estimate suggests an increase of 85% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $6.6 billion indicates a 47.7% year-over-year improvement.
Factors to Consider
The West Texas Intermediate crude price was considerably higher in the third quarter of this year. Higher oil price was favorable for the exploration and production activities of Pioneer Natural.
However, the Zacks Consensus Estimate for the company’s average daily total sales volume is pegged at 646,934 barrels of oil equivalent, suggesting a decline from 675,793 barrels of oil equivalent reported in the year-ago quarter. Our estimate for average daily total sales volume is pegged at 642.1 thousand barrels of oil equivalent, also indicating a decline from the prior-year quarter’s reported figure.
Also, the Zacks Consensus Estimate for Pioneer Natural’s average daily sales volume for oil is pegged at 355,320 barrels, suggesting a decline from 388,829 barrels in the year-ago quarter. Our estimate for average daily total sales volume is pegged at 357.3 thousand barrels, also indicating a decline from the prior-year quarter’s reported figure.
Lower production is likely to have affected Pioneer Natural’s performance in the third quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Pioneer Natural this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Pioneer Natural has an Earnings ESP of -3.26%. This is because the Most Accurate Estimate is currently pegged at earnings of $7.39 per share, whereas the Zacks Consensus Estimate is pinned at $7.64 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PXD currently has a Zacks Rank #3.
Stocks That Warrant a Look
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly results:
Core Laboratories N.V. (CLB - Free Report) has an Earnings ESP of +1.70% and is a Zacks #2 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Core Laboratories is scheduled to release third-quarter results on Oct 26. The Zacks Consensus Estimate for CLB’s earnings is pegged at 15 cents per share, suggesting a decline from the prior-year reported figure.
Chevron Corporation (CVX - Free Report) currently has an Earnings ESP of +0.28% and a Zacks Rank #3.
Chevron is scheduled to release third-quarter earnings on Oct 28. The Zacks Consensus Estimate for CVX’s earnings is pegged at $5.10 per share, suggesting a massive increase from the prior-year reported figure.
EQT Corporation (EQT - Free Report) is set to release third-quarter 2022 results on Oct 26. EQT has an Earnings ESP of +2.29% and a Zacks Rank #2.
The Zacks Consensus Estimate for third-quarter 2022 earnings of EQT is $1.05 per share, suggesting a significant improvement from the prior-year period’s reported number.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.