StockNews.com Initiates Coverage on Pioneer Natural Resources (NYSE:PXD)

Equities research analysts at StockNews.com assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a research report issued on Thursday. The firm set a “hold” rating on the oil and gas development company’s stock.

Other equities analysts have also issued research reports about the company. Mizuho increased their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Truist Financial upped their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Stifel Nicolaus lifted their price objective on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Finally, Scotiabank lifted their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Pioneer Natural Resources presently has a consensus rating of “Hold” and an average target price of $264.10.

Pioneer Natural Resources Price Performance

Shares of NYSE PXD opened at $269.62 on Thursday. The firm has a market cap of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28. The company has a quick ratio of 0.76, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $267.71 and a 200 day moving average of $243.39. Pioneer Natural Resources has a twelve month low of $196.74 and a twelve month high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS 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 the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 21.21% and a net margin of 24.28%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.91 earnings per share. As a group, research analysts expect that Pioneer Natural Resources will post 22.07 EPS for the current fiscal year.

Insider Activity at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Christopher L. Washburn sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the transaction, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the sale, the director now directly 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 in the last 90 days. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Pioneer Natural Resources

Institutional investors and hedge funds have recently modified their holdings of the company. MONECO Advisors LLC lifted its holdings in Pioneer Natural Resources by 3.9% during the fourth quarter. MONECO Advisors LLC now owns 1,126 shares of the oil and gas development company’s stock valued at $253,000 after purchasing an additional 42 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of Pioneer Natural Resources by 1.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,373 shares of the oil and gas development company’s stock worth $1,148,000 after purchasing an additional 42 shares during the last quarter. Hartford Financial Management Inc. lifted its position in shares of Pioneer Natural Resources by 61.1% in the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after buying an additional 44 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in Pioneer Natural Resources by 19.1% during the fourth quarter. Financial Management Professionals Inc. now owns 281 shares of the oil and gas development company’s stock valued at $63,000 after buying an additional 45 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its holdings in Pioneer Natural Resources by 9.6% during the 1st quarter. Richardson Financial Services Inc. now owns 516 shares of the oil and gas development company’s stock valued at $135,000 after buying an additional 45 shares in the last quarter. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

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