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Pioneer Natural (PXD) to Post Q3 Earnings: A Beat in Store?
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Pioneer Natural Resources Company (PXD - Free Report) is set to release third-quarter 2019 results on Nov 4, after the closing bell.
Let’s see how things are shaping up prior to the announcement.
Which Way Are Estimates Headed?
Let’s take a look at the estimate revision trend to get a clear picture of what analysts feel about the upstream energy major prior to the upcoming earnings release.
The Zacks Consensus Estimate for third-quarter earnings of $2.02 per share has seen two upward revisions and eight downward movements in the past 30 days. The figure suggests a year-over-year decline of 2.4%.
Further, the Zacks Consensus Estimate for revenues is pegged at $2.4 billion for the quarter, indicating a decline of 2.2% from the year-ago reported figure.
What Does the Zacks Model Say?
Our proven model predicts 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. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is +1.98%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Pioneer Natural carries a Zacks Rank #3.
Factors to Consider
Since crude accounts for majority of the company’s production volumes, higher year-over-year production is likely to have favored the company’s earnings in the third-quarter. However, the decline in crude price realizations is expected to have partly offset the positive.
Other Estimates
The Zacks Consensus Estimate for average daily crude oil production volumes of the company is pegged at 213 thousand barrels, suggesting a year-over-year increase of 9.2%. However, the consensus estimate for the average price realizations of the commodity stands at $55 per barrel, indicating a decline of 5.2%.
Past Earnings Highlights
In the last reported quarter, the company delivered earnings of $2.01 per share that beat the Zacks Consensus Estimate of $1.88. Moreover, quarterly earnings increased year over year from $1.41 per share.
Notably, Pioneer Natural has an average positive earnings surprise of 6.84% for the past four quarters, as shown in the chart below.
Pioneer Natural Resources Company Price and EPS Surprise
Investors can consider the following players from the energy space that also have the right combination of elements to post an earnings beat this time around.
Cimarex Energy Co. has an Earnings ESP of +1.32% and is Zacks #3 Ranked. The company is slated to release earnings on Nov 4.
Callon Petroleum Company has an Earnings ESP of +0.56% and is Zacks #3 Ranked. The company is scheduled to report earnings on Nov 4.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Image: Bigstock
Pioneer Natural (PXD) to Post Q3 Earnings: A Beat in Store?
Pioneer Natural Resources Company (PXD - Free Report) is set to release third-quarter 2019 results on Nov 4, after the closing bell.
Let’s see how things are shaping up prior to the announcement.
Which Way Are Estimates Headed?
Let’s take a look at the estimate revision trend to get a clear picture of what analysts feel about the upstream energy major prior to the upcoming earnings release.
The Zacks Consensus Estimate for third-quarter earnings of $2.02 per share has seen two upward revisions and eight downward movements in the past 30 days. The figure suggests a year-over-year decline of 2.4%.
Further, the Zacks Consensus Estimate for revenues is pegged at $2.4 billion for the quarter, indicating a decline of 2.2% from the year-ago reported figure.
What Does the Zacks Model Say?
Our proven model predicts 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. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is +1.98%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Pioneer Natural carries a Zacks Rank #3.
Factors to Consider
Since crude accounts for majority of the company’s production volumes, higher year-over-year production is likely to have favored the company’s earnings in the third-quarter. However, the decline in crude price realizations is expected to have partly offset the positive.
Other Estimates
The Zacks Consensus Estimate for average daily crude oil production volumes of the company is pegged at 213 thousand barrels, suggesting a year-over-year increase of 9.2%. However, the consensus estimate for the average price realizations of the commodity stands at $55 per barrel, indicating a decline of 5.2%.
Past Earnings Highlights
In the last reported quarter, the company delivered earnings of $2.01 per share that beat the Zacks Consensus Estimate of $1.88. Moreover, quarterly earnings increased year over year from $1.41 per share.
Notably, Pioneer Natural has an average positive earnings surprise of 6.84% for the past four quarters, as shown in the chart below.
Pioneer Natural Resources Company Price and EPS Surprise
Pioneer Natural Resources Company price-eps-surprise | Pioneer Natural Resources Company Quote
Other Stocks That Warrant a Look
Investors can consider the following players from the energy space that also have the right combination of elements to post an earnings beat this time around.
Plains All American Pipeline LP (PAA - Free Report) has an Earnings ESP of +0.43% and a Zacks Rank #3. The company is scheduled to release earnings on Nov 5. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cimarex Energy Co. has an Earnings ESP of +1.32% and is Zacks #3 Ranked. The company is slated to release earnings on Nov 4.
Callon Petroleum Company has an Earnings ESP of +0.56% and is Zacks #3 Ranked. The company is scheduled to report earnings on Nov 4.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>