Pioneer Natural Resources (NYSE: PXD) is expected to report Q2 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Pioneer Natural Resources's revenues will improve 23.0% and EPS will expand 12.8%.

The average estimate for revenue is $740.8 million. On the bottom line, the average EPS estimate is $1.06.

Revenue details
Last quarter, Pioneer Natural Resources notched revenue of $882.8 million. GAAP reported sales were 52% higher than the prior-year quarter's $479.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.23. GAAP EPS of $1.68 for Q1 were 43% lower than the prior-year quarter's $2.96 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 73.8%, 140 basis points better than the prior-year quarter. Operating margin was 44.4%, 6,020 basis points better than the prior-year quarter. Net margin was 29.5%, 4,320 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $3.18 billion. The average EPS estimate is $4.69.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 286 members out of 311 rating the stock outperform, and 25 members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 63 give Pioneer Natural Resources a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pioneer Natural Resources is outperform, with an average price target of $125.94.

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