Pioneer Natural Resources (NYSE:PXD) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a report published on Saturday. The firm issued a hold rating on the oil and gas development company’s stock.

A number of other research firms have also recently issued reports on PXD. Mizuho increased their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. Scotiabank increased their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a sector perform rating in a report on Thursday, April 11th. Susquehanna increased their target price on Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a neutral rating in a report on Monday, March 4th. Truist Financial increased their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a hold rating in a report on Friday, April 5th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $279.00 target price on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Pioneer Natural Resources has a consensus rating of Hold and a consensus target price of $259.00.

Pioneer Natural Resources Stock Down 0.7 %

NYSE:PXD opened at $267.22 on Friday. The stock’s fifty day moving average price is $248.29 and its two-hundred day moving average price is $237.48. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. The company has a market cap of $62.43 billion, a price-to-earnings ratio of 13.20 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $5.91 EPS. On average, analysts anticipate that Pioneer Natural Resources will post 20.88 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were issued a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 annualized dividend and a yield of 3.83%. Pioneer Natural Resources’s payout ratio is 24.70%.

Insider Activity at Pioneer Natural Resources

In other news, Director Phillip A. Gobe sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the transaction, the director now owns 11,132 shares in the company, valued at $2,906,787.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Phillip A. Gobe sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the sale, the director now owns 11,132 shares in the company, valued at approximately $2,906,787.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the sale, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock worth $9,067,373 over the last quarter. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Pioneer Natural Resources

A number of institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC grew its position in Pioneer Natural Resources by 287.0% in the 1st quarter. MCF Advisors LLC now owns 267 shares of the oil and gas development company’s stock worth $70,000 after purchasing an additional 198 shares in the last quarter. Garrison Bradford & Associates Inc. bought a new stake in Pioneer Natural Resources in the 1st quarter worth about $2,799,000. Reliant Investment Management LLC bought a new stake in Pioneer Natural Resources in the 1st quarter worth about $322,000. Independence Bank of Kentucky grew its position in Pioneer Natural Resources by 10.0% in the 1st quarter. Independence Bank of Kentucky now owns 2,683 shares of the oil and gas development company’s stock worth $704,000 after purchasing an additional 243 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new stake in Pioneer Natural Resources in the 1st quarter worth about $40,000. 80.57% of the stock is owned by institutional investors.

Pioneer Natural Resources Company Profile

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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.