IRVING, Texas (AP) _ Pioneer Natural Resources Co. (PXD) on Monday reported first-quarter earnings of $350 million.
On a per-share basis, the Irving, Texas-based company said it had net income of $2.06. Earnings, adjusted for non-recurring gains, came to $1.83 per share.
The results beat Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The independent oil and gas company posted revenue of $2.41 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $2.17 billion.
Pioneer Natural Resources shares have climbed 19% since the beginning of the year, while the Standard & Poor's 500 index has increased 17%. In the final minutes of trading on Monday, shares hit $156.30, a fall of 20% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PXD at https://www.zacks.com/ap/PXD