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Pioneer Natural (PXD) to Post Q4 Earnings: What's in Store?
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Pioneer Natural Resources Company (PXD - Free Report) is set to report fourth-quarter 2022 results on Feb 22, after the closing bell.
In the last reported quarter, the upstream company’s earnings of $7.48 per share (excluding one-time items) beat the Zacks Consensus Estimate of $7.43, owing to higher natural gas 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 6.4%, on average. This is depicted in the graph below:
Pioneer Natural Resources Company Price, Consensus and EPS Surprise
The Zacks Consensus Estimate for Pioneer Natural’s fourth-quarter earnings per share of $5.83 has witnessed no upward revision and eight downward movements in the past 30 days. The consensus estimate suggests an increase of 27.3% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $5.7 billion indicates a 31.2% year-over-year improvement.
Key Factors to Note
The West Texas Intermediate crude price was considerably higher in the fourth quarter of 2022. 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 663,141 barrels of oil equivalent, suggesting a decline from 687.1 barrels of oil equivalent reported in the year-ago quarter. Our estimate for average daily total sales volume is pegged at 655 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 357,721 barrels, suggesting a decline from 393.5 barrels in the year-ago quarter. Our estimate for average daily total sales volume is pegged at 357.9 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 to-be-reported 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 -2.74%. This is because the Most Accurate Estimate is pegged at earnings of $5.67 per share, whereas the Zacks Consensus Estimate is pinned at $5.83 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:
EOG Resources is scheduled to release fourth-quarter results on Feb 23. The Zacks Consensus Estimate for EOG’s earnings is pegged at $3.31 per share, suggesting an improvement from the prior-year reported figure.
Northern Oil and Gas, Inc. (NOG - Free Report) currently has an Earnings ESP of +0.23% and a Zacks Rank #3.
Northern Oil and Gas is scheduled to release fourth-quarter earnings on Feb 23. The Zacks Consensus Estimate for NOG’s earnings is pegged at $1.65 per share, suggesting an increase from the prior-year reported figure.
PDC Energy, Inc. is set to release fourth-quarter 2022 results on Feb 22. PDCE has an Earnings ESP of +1.64% and a Zacks Rank #3.
The Zacks Consensus Estimate for fourth-quarter 2022 earnings of PDCE is $3.05 per share, suggesting a significant improvement from the prior-year period’s reported number.
Image: Bigstock
Pioneer Natural (PXD) to Post Q4 Earnings: What's in Store?
Pioneer Natural Resources Company (PXD - Free Report) is set to report fourth-quarter 2022 results on Feb 22, after the closing bell.
In the last reported quarter, the upstream company’s earnings of $7.48 per share (excluding one-time items) beat the Zacks Consensus Estimate of $7.43, owing to higher natural gas 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 6.4%, on average. This is depicted in the graph below:
Pioneer Natural Resources Company Price, Consensus and EPS Surprise
Pioneer Natural Resources Company price-consensus-eps-surprise-chart | Pioneer Natural Resources Company Quote
Estimate Trend
The Zacks Consensus Estimate for Pioneer Natural’s fourth-quarter earnings per share of $5.83 has witnessed no upward revision and eight downward movements in the past 30 days. The consensus estimate suggests an increase of 27.3% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $5.7 billion indicates a 31.2% year-over-year improvement.
Key Factors to Note
The West Texas Intermediate crude price was considerably higher in the fourth quarter of 2022. 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 663,141 barrels of oil equivalent, suggesting a decline from 687.1 barrels of oil equivalent reported in the year-ago quarter. Our estimate for average daily total sales volume is pegged at 655 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 357,721 barrels, suggesting a decline from 393.5 barrels in the year-ago quarter. Our estimate for average daily total sales volume is pegged at 357.9 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 to-be-reported 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 -2.74%. This is because the Most Accurate Estimate is pegged at earnings of $5.67 per share, whereas the Zacks Consensus Estimate is pinned at $5.83 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:
EOG Resources Inc. (EOG - Free Report) has an Earnings ESP of +0.21% and is a Zacks #3 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
EOG Resources is scheduled to release fourth-quarter results on Feb 23. The Zacks Consensus Estimate for EOG’s earnings is pegged at $3.31 per share, suggesting an improvement from the prior-year reported figure.
Northern Oil and Gas, Inc. (NOG - Free Report) currently has an Earnings ESP of +0.23% and a Zacks Rank #3.
Northern Oil and Gas is scheduled to release fourth-quarter earnings on Feb 23. The Zacks Consensus Estimate for NOG’s earnings is pegged at $1.65 per share, suggesting an increase from the prior-year reported figure.
PDC Energy, Inc. is set to release fourth-quarter 2022 results on Feb 22. PDCE has an Earnings ESP of +1.64% and a Zacks Rank #3.
The Zacks Consensus Estimate for fourth-quarter 2022 earnings of PDCE is $3.05 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.