Pioneer Natural Resources: 2Q Earnings Snapshot
IRVING, Texas (AP) _ Pioneer Natural Resources Co. (PXD) on Tuesday reported second-quarter profit of $66 million.
The Irving, Texas-based company said it had profit of 38 cents per share. Earnings, adjusted for non-recurring costs, were $1.41 per share.
The results fell short of Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The independent oil and gas company posted revenue of $2.11 billion in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $2.27 billion.
Pioneer Natural Resources shares have climbed 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 7 percent. In the final minutes of trading on Tuesday, shares hit $186.66, a rise of 44 percent in the last 12 months.