Pioneer Natural Resources (NYSE:PXD) Now Covered by StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the oil and gas development company’s stock.

PXD has been the subject of a number of other reports. Stifel Nicolaus cut their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a report on Tuesday, January 23rd. Mizuho increased their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Susquehanna increased their price target on Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Finally, Truist Financial increased their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Pioneer Natural Resources presently has a consensus rating of “Hold” and an average target price of $261.55.

Pioneer Natural Resources Trading Up 1.1 %

NYSE PXD opened at $273.38 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The company’s 50 day moving average price is $251.56 and its 200 day moving average price is $238.90. The firm has a market capitalization of $63.87 billion, a price-to-earnings ratio of 13.51 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last released 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 for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the business posted $5.91 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Pioneer Natural Resources will post 21.5 EPS for the current year.

Insider Activity

In other news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,990 shares in the company, valued at $1,302,140.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction dated 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 directly owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the transaction, the director now directly owns 462,112 shares in the company, valued at $108,711,848. The disclosure for this sale can be found here. Insiders sold 36,766 shares of company stock worth $9,067,373 over the last three months. 0.55% of the stock is currently owned by insiders.

Institutional Trading of Pioneer Natural Resources

Several hedge funds have recently added to or reduced their stakes in PXD. Westchester Capital Management LLC bought a new stake in Pioneer Natural Resources in the fourth quarter worth about $258,634,000. Balyasny Asset Management L.P. grew its stake in Pioneer Natural Resources by 165.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,680,744 shares of the oil and gas development company’s stock worth $377,966,000 after buying an additional 1,047,414 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Pioneer Natural Resources by 25.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after acquiring an additional 662,891 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Pioneer Natural Resources in the 3rd quarter worth approximately $134,558,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Pioneer Natural Resources by 610.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock worth $141,965,000 after acquiring an additional 531,418 shares during the last quarter. 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.