Pioneer Natural Resources (NYSE:PXD) announced a quarterly dividend on Thursday, August 30th, RTT News reports. Shareholders of record on Friday, September 28th will be given a dividend of 0.16 per share by the oil and gas development company on Friday, October 12th. This represents a $0.64 annualized dividend and a yield of 0.37%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.04.
Pioneer Natural Resources has a payout ratio of 4.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pioneer Natural Resources to earn $11.01 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 2.9%.
PXD traded down $0.88 during midday trading on Thursday, hitting $174.74. The company had a trading volume of 1,110,170 shares, compared to its average volume of 1,519,852. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $30.23 billion, a PE ratio of 80.88, a PEG ratio of 1.88 and a beta of 0.88. Pioneer Natural Resources has a twelve month low of $125.46 and a twelve month high of $213.40.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Tuesday, August 7th. The oil and gas development company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.08). The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.27 billion. Pioneer Natural Resources had a net margin of 12.23% and a return on equity of 7.29%. research analysts predict that Pioneer Natural Resources will post 6.99 EPS for the current year.
Several research firms have recently commented on PXD. Zacks Investment Research raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a research note on Tuesday, July 31st. MED lifted their target price on Pioneer Natural Resources from $220.00 to $223.00 and gave the company an “overweight” rating in a research note on Wednesday, May 23rd. Credit Suisse Group set a $245.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Thursday, May 3rd. Morgan Stanley began coverage on Pioneer Natural Resources in a research note on Thursday, July 12th. They issued an “overweight” rating and a $240.00 target price for the company. Finally, Jefferies Financial Group set a $244.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Wednesday, July 18th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $232.57.
About Pioneer Natural Resources
Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado, and the West Panhandle field in the Texas Panhandle.
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