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In a report published Tuesday, J.P. Morgan analyst Joseph Allman reiterated an Overweight rating on
Pioneer Natural ResourcesPXD.
In the report, J.P. Morgan noted, “After market close on Monday, Pioneer reported 3Q13 earnings and provided an operations update. Preliminary recurring EPS/CFPS were $1.27/$4.47 versus consensus of $1.36/$4.14 and our estimates of $1.40/$3.88. The beat was mostly due to lower cash taxes. Production missed guidance due to delayed Eagle Ford production from increased pad drilling.”
Pioneer Natural Resources closed on Monday at $213.41.
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