Pioneer Natural Resources (NYSE:PXD) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) in a research note published on Tuesday morning, The Fly reports. The brokerage issued an underweight rating on the oil and gas development company’s stock.

Other equities analysts have also recently issued reports about the company. Credit Suisse Group lifted their target price on Pioneer Natural Resources from $285.00 to $300.00 and gave the stock an outperform rating in a report on Friday, October 28th. Piper Sandler lifted their price target on Pioneer Natural Resources from $346.00 to $347.00 and gave the company an overweight rating in a report on Thursday, November 17th. Mizuho reiterated a buy rating and set a $294.00 price target on shares of Pioneer Natural Resources in a report on Tuesday, January 10th. Barclays lifted their price target on Pioneer Natural Resources from $277.00 to $280.00 and gave the company an overweight rating in a report on Monday. Finally, KeyCorp lowered their price target on Pioneer Natural Resources from $290.00 to $260.00 and set an overweight rating on the stock in a report on Thursday, December 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong 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 $278.17.

Pioneer Natural Resources Stock Performance

Shares of NYSE PXD opened at $237.74 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.03 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $57.52 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 1.15 and a beta of 1.41. The stock’s fifty day simple moving average is $233.54 and its 200 day simple moving average is $236.34. Pioneer Natural Resources has a 52-week low of $199.72 and a 52-week high of $288.46.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last issued its earnings results on Thursday, October 27th. The oil and gas development company reported $7.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.43 by $0.05. The business had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Pioneer Natural Resources had a return on equity of 31.82% and a net margin of 30.33%. As a group, sell-side analysts forecast that Pioneer Natural Resources will post 30.73 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were given a $5.71 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $22.84 dividend on an annualized basis and a dividend yield of 9.61%. Pioneer Natural Resources’s dividend payout ratio is currently 15.69%.

Institutional Trading of Pioneer Natural Resources

A number of institutional investors and hedge funds have recently made changes to their positions in PXD. Fairfield Bush & CO. acquired a new stake in shares of Pioneer Natural Resources in the first quarter worth about $42,000. Cetera Advisor Networks LLC lifted its position in shares of Pioneer Natural Resources by 59.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,074 shares of the oil and gas development company’s stock worth $519,000 after purchasing an additional 774 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Pioneer Natural Resources by 52.1% during the 1st quarter. Cetera Investment Advisers now owns 3,249 shares of the oil and gas development company’s stock worth $812,000 after purchasing an additional 1,113 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of Pioneer Natural Resources by 22.6% during the 1st quarter. Baird Financial Group Inc. now owns 108,614 shares of the oil and gas development company’s stock worth $27,157,000 after purchasing an additional 20,023 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Pioneer Natural Resources by 35.9% during the 1st quarter. Mather Group LLC. now owns 3,430 shares of the oil and gas development company’s stock worth $858,000 after purchasing an additional 907 shares during the last quarter. Institutional investors and hedge funds own 89.75% of the company’s stock.

Pioneer Natural Resources Company Profile

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Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.