Capital One Financial Comments on Pioneer Natural Resources’ FY2022 Earnings (NYSE:PXD)

Pioneer Natural Resources (NYSE:PXDGet Rating) – Equities researchers at Capital One Financial upped their FY2022 earnings per share (EPS) estimates for Pioneer Natural Resources in a research note issued to investors on Wednesday, August 3rd. Capital One Financial analyst P. Johnston now anticipates that the oil and gas development company will post earnings of $30.72 per share for the year, up from their previous forecast of $30.11. The consensus estimate for Pioneer Natural Resources’ current full-year earnings is $33.25 per share.

A number of other research firms have also recently commented on PXD. Scotiabank cut Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $260.00 to $270.00 in a research note on Monday, April 18th. Royal Bank of Canada cut Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and set a $290.00 target price on the stock. in a research note on Wednesday, July 6th. KeyCorp increased their price objective on Pioneer Natural Resources from $272.00 to $294.00 and gave the stock an “overweight” rating in a research note on Thursday, May 26th. Barclays dropped their price objective on Pioneer Natural Resources from $339.00 to $324.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Finally, Truist Financial dropped their price objective on Pioneer Natural Resources from $281.00 to $247.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Pioneer Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of $288.35.

Pioneer Natural Resources Trading Up 2.0 %

PXD opened at $217.15 on Friday. The stock has a market cap of $52.54 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 0.78 and a beta of 1.51. The stock’s 50 day moving average price is $234.89 and its 200-day moving average price is $239.01. Pioneer Natural Resources has a one year low of $137.54 and a one year high of $288.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.33.

Pioneer Natural Resources (NYSE:PXDGet Rating) last released its earnings results on Tuesday, August 2nd. The oil and gas development company reported $9.36 EPS for the quarter, beating analysts’ consensus estimates of $8.63 by $0.73. Pioneer Natural Resources had a return on equity of 28.26% and a net margin of 28.29%. During the same quarter in the previous year, the business earned $2.55 EPS.

Pioneer Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Tuesday, September 6th will be issued a dividend of $8.57 per share. This represents a $34.28 annualized dividend and a dividend yield of 15.79%. The ex-dividend date is Friday, September 2nd. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $7.38. Pioneer Natural Resources’s dividend payout ratio is currently 11.12%.

Insider Buying and Selling

In related news, EVP Jerome D. Hall, Jr. sold 2,000 shares of the firm’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $262.19, for a total value of $524,380.00. Following the completion of the transaction, the executive vice president now owns 53,006 shares in the company, valued at approximately $13,897,643.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jerome D. Hall, Jr. sold 2,000 shares of the firm’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $262.19, for a total value of $524,380.00. Following the completion of the transaction, the executive vice president now owns 53,006 shares in the company, valued at approximately $13,897,643.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Stephen Berg sold 2,500 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $286.90, for a total value of $717,250.00. Following the completion of the transaction, the executive vice president now owns 47,046 shares of the company’s stock, valued at approximately $13,497,497.40. The disclosure for this sale can be found here. Insiders sold 8,835 shares of company stock worth $2,439,657 in the last 90 days. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Pioneer Natural Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital International Investors grew its position in shares of Pioneer Natural Resources by 45.1% during the 4th quarter. Capital International Investors now owns 6,105,125 shares of the oil and gas development company’s stock valued at $1,110,392,000 after acquiring an additional 1,898,932 shares during the period. Capital World Investors lifted its holdings in Pioneer Natural Resources by 10.0% in the first quarter. Capital World Investors now owns 15,679,316 shares of the oil and gas development company’s stock valued at $3,920,478,000 after acquiring an additional 1,423,102 shares during the last quarter. First Trust Advisors LP lifted its holdings in Pioneer Natural Resources by 236.0% in the first quarter. First Trust Advisors LP now owns 1,632,267 shares of the oil and gas development company’s stock valued at $408,116,000 after acquiring an additional 1,146,401 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Pioneer Natural Resources by 20.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,290,431 shares of the oil and gas development company’s stock worth $1,322,766,000 after purchasing an additional 903,653 shares in the last quarter. Finally, Abrams Bison Investments LLC acquired a new position in Pioneer Natural Resources during the fourth quarter worth $108,764,000. Hedge funds and other institutional investors own 87.65% of the company’s stock.

Pioneer Natural Resources Company Profile

(Get Rating)

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. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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