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 Tuesday, November 1, 2011. 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 estimate of analysts is for net income of 90 cents per share, a rise of more than twofold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 97 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 90 cents during the last month. Analysts are projecting profit to rise by 157.1% versus last year to $3.42.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked profit of 94 cents per share versus a mean estimate of net income of 83 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $642.1 million in revenue this quarter, a rise of 36.2% from the year ago quarter. Analysts are forecasting total revenue of $2.4 billion for the year, a rise of 33.3% from last year’s revenue of $1.8 billion.

Analyst Ratings: Analysts are bullish on this stock with 19 analysts rating it as a buy, none rating it as a sell and six rating it as a hold.

A Look Back: In the second quarter, profit rose 46.5% to $245.6 million ($2.03 a share) from $167.6 million ($1.41 a share) the year earlier, exceeding analyst expectations. Revenue rose 26.4% to $583.9 million from $462.1 million.

Key Stats:

A year-over-year revenue increase in the second quarter snapped a streak of two consecutive quarters of revenue declines. Revenue fell 2.1% in the first quarter and 21.6% in the fourth quarter of the last fiscal year.

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 September 28, 2011 to October 26, 2011, the stock price had risen $15.30 (22.3%) from $68.66 to $83.96. 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 September 16, 2011 and September 23, 2011 when shares fell for six-straight days, falling 16.2% (-$13.07) over that span. Shares are down $2.78 (-3.2%) year to date.

(Source: Xignite Financials)

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