Pioneer Natural Resources (NYSE:PXD) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a research note released on Saturday morning. The firm issued a hold rating on the oil and gas development company’s stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus dropped their target price on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a hold rating for the company in a report on Tuesday, January 23rd. Susquehanna increased their target price on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a neutral rating in a report on Monday, March 4th. Scotiabank increased their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a sector perform rating in a report on Thursday. Royal Bank of Canada reiterated a sector perform rating and set a $279.00 target price on shares of Pioneer Natural Resources in a report on Thursday. Finally, Truist Financial raised their price objective on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a hold rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $259.00.

Pioneer Natural Resources Stock Performance

NYSE PXD opened at $270.80 on Friday. The company has a 50-day simple moving average of $246.65 and a two-hundred day simple moving average of $236.95. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. The firm has a market cap of $63.26 billion, a price-to-earnings ratio of 13.38 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.41 by ($0.13). The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.91 earnings per share. On average, equities analysts forecast that Pioneer Natural Resources will post 20.88 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were issued a $2.56 dividend. This represents a $10.24 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Insider Buying and Selling

In related news, EVP Mark H. Kleinman sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $234.35, for a total value of $820,225.00. Following the sale, the executive vice president now owns 49,856 shares in the company, valued at $11,683,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the sale, the director now owns 462,112 shares in the company, valued at $108,711,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark H. Kleinman sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the sale, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,766 shares of company stock worth $9,067,373. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Pioneer Natural Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. boosted its stake in shares of Pioneer Natural Resources by 61.1% during the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after acquiring an additional 44 shares during the last quarter. Sachetta LLC purchased a new position in shares of Pioneer Natural Resources during the 4th quarter worth $27,000. BluePath Capital Management LLC purchased a new position in shares of Pioneer Natural Resources during the 3rd quarter worth $29,000. Ancora Advisors LLC boosted its stake in shares of Pioneer Natural Resources by 77.4% during the 1st quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock worth $30,000 after acquiring an additional 65 shares during the last quarter. Finally, Carmel Capital Partners LLC purchased a new position in shares of Pioneer Natural Resources during the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 80.57% of the company’s stock.

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.