Pioneer Natural Resources’ (PXD) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Pioneer Natural Resources (NYSE:PXD) in a report published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $279.00 price target on the oil and gas development company’s stock.

A number of other equities analysts have also issued reports on PXD. Susquehanna increased their price target on Pioneer Natural Resources from $237.00 to $246.00 and gave the company a neutral rating in a research note on Monday, March 4th. Stifel Nicolaus lowered their target price on Pioneer Natural Resources from $243.00 to $224.00 and set a hold rating on the stock in a report on Tuesday, January 23rd. UBS Group dropped their price target on shares of Pioneer Natural Resources from $269.00 to $250.00 and set a neutral rating on the stock in a research report on Thursday, December 14th. StockNews.com started coverage on shares of Pioneer Natural Resources in a research report on Friday, April 5th. They set a hold rating for the company. Finally, Truist Financial boosted their target price 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 analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Pioneer Natural Resources presently has an average rating of Hold and a consensus price target of $259.00.

Pioneer Natural Resources Stock Performance

PXD stock opened at $270.80 on Thursday. The company has a market capitalization of $63.26 billion, a P/E ratio of 13.38 and a beta of 1.31. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $246.65 and a 200 day simple moving average of $236.95. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company posted $5.91 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that Pioneer Natural Resources will post 20.88 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 Friday, March 22nd. Investors of record on Monday, March 4th were issued a dividend of $2.56 per share. This represents a $10.24 annualized dividend and a dividend 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 at Pioneer Natural Resources

In other news, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the transaction, the executive vice president now directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total transaction of $369,505.20. Following the transaction, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark H. Kleinman sold 3,500 shares of the business’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 directly owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,766 shares of company stock worth $9,067,373. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PXD. Hartford Financial Management Inc. raised its holdings in Pioneer Natural Resources by 61.1% during the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after buying an additional 44 shares in the last quarter. Sachetta LLC bought a new position in shares of Pioneer Natural Resources in the 4th quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new position in shares of Pioneer Natural Resources in the 3rd quarter valued at approximately $29,000. Ancora Advisors LLC lifted its holdings in Pioneer Natural Resources by 77.4% in the 1st quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock worth $30,000 after purchasing an additional 65 shares during the last quarter. Finally, DecisionPoint Financial LLC bought a new stake in Pioneer Natural Resources during the second quarter worth approximately $34,000. 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.