Compared to Estimates, Pioneer Natural Resources (PXD) Q4 Earnings: A Look at Key Metrics

For the quarter ended December 2023, Pioneer Natural Resources (PXD) reported revenue of $5.22 billion, up 2.1% over the same period last year. EPS came in at $5.26, compared to $5.91 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $5.18 billion, representing a surprise of +0.72%. The company delivered an EPS surprise of -2.77%, with the consensus EPS estimate being $5.41.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Pioneer Natural Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Average Daily Volumes - NGLs: 196,332 BBL/D versus the 10-analyst average estimate of 182,898.4 BBL/D.
  • Average Daily Volumes - Oil: 380,550 BBL/D versus 379,308.3 BBL/D estimated by 10 analysts on average.
  • Average Daily Volumes - Gas: 1,011,900 Mcf/D versus 979,072 Mcf/D estimated by 10 analysts on average.
  • Average Daily Sales Volumes - Total: 745,532 BOE/D versus 726,548.6 BOE/D estimated by 10 analysts on average.
  • Average reported prices per bbl - Oil: $78.47 versus $79.69 estimated by seven analysts on average.
  • Average reported prices per bbl - NGLs: $23.25 versus the seven-analyst average estimate of $25.26.
  • Disaggregated Revenue- Gas sales: $219 million versus the four-analyst average estimate of $235.42 million. The reported number represents a year-over-year change of -45.3%.
  • Oil and gas: $3.39 billion versus the four-analyst average estimate of $3.50 billion. The reported number represents a year-over-year change of -3.7%.
  • Sales of purchased oil and gas: $1.69 billion compared to the $1.76 billion average estimate based on three analysts. The reported number represents a change of +2% year over year.
  • Disaggregated Revenue- NGL sales: $420 million versus $458.80 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.2% change.
  • Disaggregated Revenue- Oil sales: $2.75 billion compared to the $2.82 billion average estimate based on three analysts. The reported number represents a change of +1.9% year over year.
  • Interest and other: -$21 million versus the two-analyst average estimate of $36.28 million. The reported number represents a year-over-year change of -134.4%.
View all Key Company Metrics for Pioneer Natural Resources here>>>

Shares of Pioneer Natural Resources have returned +4.8% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Top 5 ChatGPT Stocks Revealed

Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.

Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”

Download Free ChatGPT Stock Report Right Now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Pioneer Natural Resources Company (PXD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.