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Pioneer Natural (PXD) to Post Q1 Earnings: What's in Store?

Zacks Equity Research

Pioneer Natural Resources Company PXD is scheduled to report first-quarter 2019 earnings on May 6, after the closing bell.

The company has managed to beat the Zacks Consensus Estimate in two of the past four quarters, the average positive earnings surprise being 2.1%. Let’s see how things are shaping up prior to this announcement.

Which Way are Estimates Treading?

Let’s take a look at estimate revisions to get a clear picture of analysts’ opinion on the stock before the earnings release.

The Zacks Consensus Estimate for first-quarter earnings of $1.52 was revised upward from $1.50 in the last seven days. Despite the positive revision, estimates reflect a year-over-year decline of 8.4%.

The consensus estimate for first-quarter revenues of $2.2 billion indicates an increase of 0.2% from the year-ago quarter’s reported figure.

Pioneer Natural Resources Company Price and EPS Surprise

 

Pioneer Natural Resources Company Price and EPS Surprise | Pioneer Natural Resources Company Quote

Factors to Consider

The Zacks Consensus Estimate for total production is pegged at 324 thousand barrels of oil equivalent per day (MBOE/d), up from 312 MBOE/d in the year-ago quarter.

However, the Zacks Consensus Estimate for average crude oil sales price is pegged at $46.80 per barrel, reflecting a decline from the actual figure of $62 in first-quarter 2018.

Moreover, the Zacks Consensus Estimate for average sale price of natural gas is pegged at $1.98 per thousand cubic feet (Mcf), indicating a fall from the year-ago quarter’s figure of $2.59 per Mcf.

Since Pioneer Natural is involved in exploring and producing oil and natural gas, lower expected oil and natural gas prices are likely to hurt first-quarter results. However, higher projected production will support earnings.

Earnings Whispers

Our proven model does not conclusively predict a beat for Pioneer Natural this earnings season. That is because a stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here as you will see below.

Earnings ESP: Earnings ESP for the company is 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.52. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Pioneer Natural currently carries a Zacks Rank #3, which, when combined with an Earnings ESP of 0.00%, lowers the possibility of an earnings surprise.

Stocks Poised to Beat Estimates

Here are a few firms that you may want to consider as, on the basis of our model, these have the right combination of elements to beat estimates this quarter.

TC PipeLines, LP TCP has an Earnings ESP of +7.60% and a Zacks Rank #3. The company is slated to announce first-quarter earnings on May 8. You can see the complete list of today’s Zacks #1 Rank stocks here.

TransCanada Corporation TRP is expected to report first-quarter earnings on May 3. The stock has an Earnings ESP of +5.36% and a Zacks Rank of 2.

Cimarex Energy Co. XEC has an Earnings ESP of +1.95% and a Zacks Rank of 2. The company is anticipated to release first-quarter earnings on May 8.

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TC PipeLines, LP (TCP) : Free Stock Analysis Report
 
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