J.P. Morgan Reiterates on Pioneer Natural Resources Following 3Q13 Earnings Report, Operations Update

In a report published Tuesday, J.P. Morgan analyst Joseph Allman reiterated an Overweight rating on Pioneer Natural Resources (NYSE: PXD).

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.