Pioneer Natural Resources (NYSE:PXD) has been assigned an average recommendation of “Buy” from the thirty-three ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $215.20.
Several research analysts have recently issued reports on PXD shares. Seaport Global Securities raised Pioneer Natural Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Zacks Investment Research raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research report on Friday, December 15th. Jefferies Group set a $192.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Mizuho set a $202.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Piper Jaffray set a $227.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Wednesday, March 14th.
Shares of NYSE:PXD opened at $168.13 on Thursday. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $192.93. The company has a market capitalization of $29,364.96, a PE ratio of 77.84, a PEG ratio of 2.10 and a beta of 0.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.31.
The firm also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be issued a $0.16 dividend. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a dividend yield of 0.18%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 14.81%.
Pioneer Natural Resources announced that its board has approved a share buyback program on Tuesday, February 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the oil and gas development company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In other Pioneer Natural Resources news, SVP Mark H. Kleinman sold 1,150 shares of Pioneer Natural Resources stock in a transaction on Monday, February 26th. The stock was sold at an average price of $180.17, for a total value of $207,195.50. Following the completion of the sale, the senior vice president now owns 13,327 shares of the company’s stock, valued at approximately $2,401,125.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Chris J. Cheatwood sold 9,513 shares of Pioneer Natural Resources stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $175.93, for a total value of $1,673,622.09. Following the completion of the sale, the executive vice president now directly owns 42,931 shares of the company’s stock, valued at approximately $7,552,850.83. The disclosure for this sale can be found here. In the last three months, insiders sold 18,207 shares of company stock valued at $3,219,653. Corporate insiders own 0.89% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors bought a new stake in shares of Pioneer Natural Resources in the 4th quarter worth $104,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Pioneer Natural Resources in the 4th quarter worth $129,000. Banco de Sabadell S.A purchased a new position in shares of Pioneer Natural Resources in the 4th quarter worth $147,000. Guardian Capital Advisors LP purchased a new position in shares of Pioneer Natural Resources in the 4th quarter worth $215,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Pioneer Natural Resources in the 3rd quarter worth $176,000. 89.40% of the stock is owned by institutional investors and hedge funds.
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About Pioneer Natural Resources
Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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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