Piper Sandler Raises Pioneer Natural Resources (NYSE:PXD) Price Target to $347.00

Pioneer Natural Resources (NYSE:PXDGet Rating) had its price objective hoisted by Piper Sandler from $346.00 to $347.00 in a research note released on Thursday, The Fly reports. Piper Sandler currently has an overweight rating on the oil and gas development company’s stock.

Other analysts have also recently issued reports about the company. TD Securities lifted their price target on Pioneer Natural Resources from $280.00 to $285.00 and gave the stock a buy rating in a report on Friday, October 28th. Mizuho lowered their price objective on Pioneer Natural Resources from $316.00 to $305.00 and set a buy rating on the stock in a research note on Monday, October 24th. Barclays lowered their price objective on Pioneer Natural Resources from $309.00 to $300.00 and set an overweight rating on the stock in a research note on Wednesday, October 19th. Truist Financial raised their price objective on Pioneer Natural Resources from $219.00 to $261.00 in a research note on Monday, October 31st. Finally, Jefferies Financial Group began coverage on Pioneer Natural Resources in a research note on Wednesday, October 19th. They set a hold rating and a $261.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $282.33.

Pioneer Natural Resources Stock Performance

NYSE:PXD opened at $249.94 on Thursday. The stock has a market cap of $60.48 billion, a P/E ratio of 8.91, a PEG ratio of 0.93 and a beta of 1.47. The stock has a 50 day simple moving average of $245.67 and a 200 day simple moving average of $243.32. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. Pioneer Natural Resources has a 1-year low of $166.97 and a 1-year high of $288.46.

Pioneer Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $5.71 per share. The ex-dividend date is Tuesday, November 29th. This represents a $22.84 dividend on an annualized basis and a yield of 9.14%. Pioneer Natural Resources’s dividend payout ratio is currently 15.69%.

Institutional Investors Weigh In On Pioneer Natural Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of PXD. Cowa LLC acquired a new position in Pioneer Natural Resources during the 3rd quarter worth about $27,000. Kistler Tiffany Companies LLC acquired a new position in Pioneer Natural Resources during the 3rd quarter worth about $27,000. Evermay Wealth Management LLC lifted its holdings in Pioneer Natural Resources by 48.2% during the 3rd quarter. Evermay Wealth Management LLC now owns 123 shares of the oil and gas development company’s stock worth $27,000 after buying an additional 40 shares during the period. Selective Wealth Management Inc. acquired a new position in Pioneer Natural Resources during the 2nd quarter worth about $28,000. Finally, Ronald Blue Trust Inc. lifted its holdings in Pioneer Natural Resources by 84.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 127 shares of the oil and gas development company’s stock worth $29,000 after buying an additional 58 shares during the period. Institutional investors own 89.97% of the company’s stock.

About Pioneer Natural Resources

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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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