Pioneer Natural Resources: 4Q Earnings Snapshot

IRVING, Texas (AP) _ Pioneer Natural Resources Co. (PXD) on Wednesday reported fourth-quarter net income of $344 million.

The Irving, Texas-based company said it had profit of $2.06 per share. Earnings, adjusted for non-recurring costs, were $2.36 per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.

The independent oil and gas company posted revenue of $2.64 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $2.48 billion.

For the year, the company reported profit of $756 million, or $4.50 per share. Revenue was reported as $9.3 billion.

Pioneer Natural Resources shares have decreased roughly 7% since the beginning of the year, while the Standard & Poor's 500 index has increased almost 5%. In the final minutes of trading on Wednesday, shares hit $141.18, a drop of 3% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PXD at https://www.zacks.com/ap/PXD