Brokerages Set Pioneer Natural Resources (NYSE:PXD) Target Price at $259.95

Shares of Pioneer Natural Resources (NYSE:PXD) have been assigned a consensus rating of “Hold” from the twenty analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $264.10.

PXD has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday. Mizuho increased their price objective on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Truist Financial increased their price objective on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Susquehanna increased their price objective on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, StockNews.com started coverage on shares of Pioneer Natural Resources in a research report on Sunday. They set a “hold” rating for the company.

Insider Transactions at Pioneer Natural Resources

In related news, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction on 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 sale, the director now directly owns 462,112 shares in the company, valued at approximately $108,711,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction 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 transaction, the director now directly owns 462,112 shares in the company, valued at $108,711,848. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the chief accounting officer now directly owns 4,990 shares in the company, valued at approximately $1,302,140.50. The disclosure for this sale can be found here. In the last three months, insiders sold 36,766 shares of company stock valued at $9,067,373. Insiders own 0.55% of the company’s stock.

Institutional Trading of Pioneer Natural Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IRON Financial LLC purchased a new stake in Pioneer Natural Resources during the first quarter worth about $730,000. Aquila Investment Management LLC lifted its holdings in shares of Pioneer Natural Resources by 42.9% in the first quarter. Aquila Investment Management LLC now owns 10,000 shares of the oil and gas development company’s stock valued at $2,625,000 after purchasing an additional 3,000 shares in the last quarter. Community Financial Services Group LLC purchased a new stake in shares of Pioneer Natural Resources in the first quarter valued at about $3,475,000. Wesbanco Bank Inc. purchased a new stake in shares of Pioneer Natural Resources in the first quarter valued at about $262,000. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Pioneer Natural Resources by 42.4% in the first quarter. Summit Trail Advisors LLC now owns 2,065 shares of the oil and gas development company’s stock valued at $542,000 after purchasing an additional 615 shares in the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Stock Up 0.6 %

PXD stock opened at $275.12 on Friday. The company has a market cap of $64.27 billion, a price-to-earnings ratio of 13.59 and a beta of 1.31. The company has a current ratio of 0.88, a quick ratio of 0.72 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 50-day moving average of $252.53 and a two-hundred day moving average of $239.17.

Pioneer Natural Resources (NYSE:PXD) last announced 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 analysts’ consensus estimates of $5.41 by ($0.13). The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.91 EPS. As a group, analysts forecast that Pioneer Natural Resources will post 21.5 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were given a dividend of $2.56 per share. The ex-dividend date was Friday, March 1st. This represents a $10.24 annualized dividend and a dividend yield of 3.72%. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 24.70%.

Pioneer Natural Resources Company Profile

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.