IRVING, Texas (AP) _ Pioneer Natural Resources Co. (PXD) on Monday reported third-quarter earnings of $231 million.
On a per-share basis, the Irving, Texas-based company said it had profit of $1.38. Earnings, adjusted for non-recurring costs, were $1.99 per share.
The results missed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.
The independent oil and gas company posted revenue of $2.33 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $2.42 billion.
Pioneer Natural Resources shares have increased slightly more than 3% since the beginning of the year, while the Standard & Poor's 500 index has climbed 23%. In the final minutes of trading on Monday, shares hit $136.01, a fall of slightly more than 7% in the last 12 months.