Pioneer Natural Resources (NYSE:PXD) has earned an average recommendation of “Buy” from the twenty-eight brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nineteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $193.97.
PXD has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $190.00 target price on shares of Pioneer Natural Resources in a report on Sunday, August 11th. TD Securities cut their target price on Pioneer Natural Resources from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Seaport Global Securities reiterated a “buy” rating on shares of Pioneer Natural Resources in a report on Friday, June 21st. Wells Fargo & Co increased their target price on Pioneer Natural Resources from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Morgan Stanley cut their target price on Pioneer Natural Resources from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th.
In other news, EVP Chris J. Cheatwood sold 5,619 shares of Pioneer Natural Resources stock in a transaction on Monday, September 16th. The stock was sold at an average price of $140.35, for a total transaction of $788,626.65. Following the sale, the executive vice president now directly owns 39,027 shares in the company, valued at approximately $5,477,439.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Kenneth Thompson bought 500 shares of the stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $121.01 per share, for a total transaction of $60,505.00. Following the completion of the purchase, the director now directly owns 13,024 shares in the company, valued at $1,576,034.24. The disclosure for this purchase can be found here. 0.91% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MML Investors Services LLC increased its holdings in Pioneer Natural Resources by 27.7% in the 2nd quarter. MML Investors Services LLC now owns 6,323 shares of the oil and gas development company’s stock worth $973,000 after acquiring an additional 1,371 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Pioneer Natural Resources in the 1st quarter worth about $1,355,000. Winfield Associates Inc. purchased a new stake in Pioneer Natural Resources in the 2nd quarter worth about $287,000. OppenheimerFunds Inc. increased its holdings in Pioneer Natural Resources by 80.5% in the 1st quarter. OppenheimerFunds Inc. now owns 100,815 shares of the oil and gas development company’s stock worth $15,352,000 after acquiring an additional 44,956 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in Pioneer Natural Resources by 28.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 138,319 shares of the oil and gas development company’s stock worth $21,012,000 after acquiring an additional 30,657 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.
Shares of PXD traded down $2.28 during trading hours on Friday, reaching $133.65. The stock had a trading volume of 878,583 shares, compared to its average volume of 1,571,998. Pioneer Natural Resources has a 12 month low of $114.79 and a 12 month high of $189.78. The firm has a 50-day simple moving average of $127.23 and a 200 day simple moving average of $143.26. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.14.
Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.13. Pioneer Natural Resources had a return on equity of 10.04% and a net margin of 9.65%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the business earned $1.41 EPS. Pioneer Natural Resources’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, equities analysts forecast that Pioneer Natural Resources will post 8.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, September 26th. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.16. This represents a $1.76 annualized dividend and a yield of 1.32%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 10.14%.
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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