Pioneer Natural Resources Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Pioneer Natural Resources (NYSE:PXD) will unveil its latest earnings on Wednesday, August 3, 2011. Pioneer Natural Resources Co. is an oil and gas exploration and production company operating in the United States, South Africa and Tunisia.

Pioneer Natural Resources Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 83 cents per share, a rise of 93% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 80 cents. Between one and three months ago, the average estimate moved up, but has dropped from 85 cents during the last month. For the year, analysts are projecting net income of $3.63 per share, a rise of more than twofold from last year.

Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported profit of 68 cents per share against a mean estimate of net income of 53 cents, and the quarter before, the company exceeded forecasts by 8 cents with profit of 51 cents versus a mean estimate of net income of 43 cents.

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Wall St. Revenue Expectations: On average, analysts predict $605.7 million in revenue this quarter, a rise of 31.1% from the year ago quarter. Analysts are forecasting total revenue of $2.47 billion for the year, a rise of 37.2% from last year’s revenue of $1.8 billion.

Analyst Ratings: Analysts are bullish on this stock with 20 analysts rating it as a buy, none rating it as a sell and five rating it as a hold.

Key Stats:

Revenue has fallen in the past two quarters. In first quarter, revenue declined 2.1% to $497.1 million from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 21.6%.

Competitors to Watch: Lucas Energy, Inc. (AMEX:LEI), Anadarko Petroleum Corp. (NYSE:APC), Contango Oil & Gas Company (AMEX:MCF), Cimarex Energy Co. (NYSE:XEC), SM Energy Co. (NYSE:SM), Brigham Exploration Co. (NASDAQ:BEXP), Abraxas Petroleum Corp. (NASDAQ:AXAS), Concho Resources Inc. (NYSE:CXO), Linn Energy, LLC (NASDAQ:LINE), and Approach Resources Inc. (NASDAQ:AREX).

Stock Price Performance: During July 22, 2011 to July 28, 2011, the stock price had dropped $6.33 (-6.4%) from $99.53 to $93.20. The stock price saw one of its best stretches over the last year between October 28, 2010 and November 11, 2010 when shares rose for 11-straight days, rising 12.8% (+$8.85) over that span. It saw one of its worst periods between May 10, 2011 and May 17, 2011 when shares fell for six-straight days, falling 6.1% (-$5.76) over that span. Shares are up $6.41 (+7.4%) year to date.

(Source: Xignite Financials)

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