Pioneer Natural Resources (PXD) Tops Q1 EPS by 11c

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Pioneer Natural Resources (PXD) Target Increased At UBS

April 26, 2016 8:57 AM EDT

UBS analyst, William Featherston, sees a clean 1Q EPS/CFPS of ($0.64)/$1.60 for Pioneer Natural Resources (NYSE: PXD) which comfortably beat consensus of ($0.84)/$1.40, respectively. The beat was driven by stronger than expected production (particularly oil volumes) & lower than expected costs. EBITDX of ~$310MM was 2% above consensus, respectively. 1Q production of ~222 MBoed rose 14% YoY and 3% QoQ and was above the guidance range of 211- 216 MBoed, with the oil mix climbing to 55.4% (vs. 52.6% in 4Q and 50.8% in 1Q15). PT goes to $185, no... More