Pioneer Natural Resources Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Pioneer Natural Resources (NYSE:PXD) will unveil its latest earnings on Wednesday, October 31, 2012. Pioneer Natural Resources 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 analyst estimate is for net income of 97 cents per share, a decline of 67.1% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from $1.03. Between one and three months ago, the average estimate moved down. It has risen from 93 cents during the last month. Analysts are projecting profit to rise by 25.8% versus last year to $4.12.

Past Earnings Performance: Last quarter, the company missed estimates by 20 cents, coming in at profit of 78 cents per share versus a mean estimate of net income of 98 cents per share. In the first quarter, the company beat estimates by 2 cents.

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A Look Back: In the second quarter, the company swung to a loss of $70.4 million (57 cents a share) from a profit of $245.6 million ($2.03) a year earlier, missing analyst expectations. Revenue rose 58.4% to $924.7 million from $583.9 million.

Wall St. Revenue Expectations: Analysts are projecting a rise of 23.4% in revenue from the year-earlier quarter to $778.3 million.

Stock Price Performance: Between August 1, 2012 and October 25, 2012, the stock price rose $10.41 (11.1%), from $93.86 to $104.27. The stock price saw one of its best stretches over the last year between September 5, 2012 and September 14, 2012, when shares rose for eight straight days, increasing 17.9% (+$17.14) over that span. It saw one of its worst periods between September 14, 2012 and September 26, 2012 when shares fell for nine straight days, dropping 10.2% (-$11.58) over that span.

Key Stats:

The company enters this earnings announcement with substantial revenue momentum. The company has averaged year-over-year revenue growth of 58% over the last four quarters.

Analyst Ratings: There are 20 out of 25 analysts surveyed (80%) rating Pioneer Natural Res a buy.

Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 1.35 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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