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Pioneer Natural Resources tops Q2 adjusted income estimates, boosts dividend

Pioneer Natural Resources Co. on Aug. 6 reported $340.0 million, or $2.01 per share, in adjusted net income for the second quarter, compared to $243.0 million, or $1.41 per share, in the prior-year period.

The S&P Global Market Intelligence consensus normalized earnings estimate for the second quarter was $1.86 per share.

Net loss attributable to common stockholders totaled $169.0 million, compared to net income of $66.0 million a year earlier. Revenue came in at $1.92 billion in the second quarter, compared to $2.11 billion in the second quarter a year ago.

Pioneer said production totaled 334,167 barrels of oil equivalent per day in the second quarter, compared to 327,704 boe/d in the second quarter a year ago.

The Permian Basin pure-play producer raised its quarterly cash dividend to 44 cents per share, equivalent to $1.76 per share on an annualized basis. The dividend will be paid Oct. 10 to stockholders of record as of Sept. 27.