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 report report published on Monday. The brokerage issued a hold rating on the oil and gas development company’s stock.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed a sector perform rating and set a $279.00 target price on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Truist Financial upped their price target 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 upped their price target 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, April 22nd. Stifel Nicolaus upped their price target 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, April 23rd. Finally, Scotiabank upped their price target on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a sector perform rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Pioneer Natural Resources presently has a consensus rating of Hold and a consensus price target of $264.10.

Pioneer Natural Resources Stock Up 1.8 %

Shares of PXD stock opened at $273.60 on Monday. Pioneer Natural Resources has a 12 month low of $196.74 and a 12 month high of $278.83. The stock has a market cap of $63.92 billion, a P/E ratio of 13.52 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. The company has a 50 day simple moving average of $255.99 and a two-hundred day simple moving average of $240.15.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the company posted $5.91 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts expect that Pioneer Natural Resources will post 22.47 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were paid a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s payout ratio is 24.70%.

Insider Activity at Pioneer Natural Resources

In related news, Director Scott D. Sheffield sold 10,000 shares of the company’s 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 owns 462,112 shares of the company’s stock, valued at $108,711,848. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Scott D. Sheffield sold 10,000 shares of the 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 sale, the director now owns 462,112 shares of the company’s stock, valued at $108,711,848. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction 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 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. Insiders have sold a total of 36,766 shares of company stock valued at $9,067,373 over the last 90 days. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pioneer Natural Resources

Several hedge funds and other institutional investors have recently made changes to their positions in PXD. Hartford Financial Management Inc. raised its stake in shares of Pioneer Natural Resources by 61.1% in 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 acquiring an additional 44 shares during the period. Sachetta LLC purchased a new position in Pioneer Natural Resources in the 4th quarter worth about $27,000. BluePath Capital Management LLC purchased a new position in Pioneer Natural Resources in the 3rd quarter worth about $29,000. Carmel Capital Partners LLC purchased a new position in Pioneer Natural Resources in the 3rd quarter worth about $34,000. Finally, Jones Financial Companies Lllp increased its stake in Pioneer Natural Resources by 85.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock worth $34,000 after buying an additional 68 shares during the period. 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.