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Pioneer Natural Resources: 3Q Earnings Snapshot

·1 min read

IRVING, Texas (AP) _ Pioneer Natural Resources Co. (PXD) on Wednesday reported a third-quarter loss of $20 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Irving, Texas-based company said it had a loss of 12 cents. Earnings, adjusted for non-recurring costs, were 17 cents per share.

The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.

The independent oil and gas company posted revenue of $1.82 billion in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $1.5 billion.

Pioneer Natural Resources shares have decreased 45% since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 7%. In the final minutes of trading on Wednesday, shares hit $83.50, a fall of 39% in the last 12 months.

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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