StockNews.com Initiates Coverage on Pioneer Natural Resources (NYSE:PXD)

Investment analysts at StockNews.com assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a report issued on Tuesday. The firm set a “hold” rating on the oil and gas development company’s stock.

A number of other brokerages have also issued reports on PXD. Truist Financial increased their price objective on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $279.00 price target on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Stifel Nicolaus increased their price objective on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Finally, Susquehanna raised their price target on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Pioneer Natural Resources presently has an average rating of “Hold” and a consensus price target of $264.10.

Pioneer Natural Resources Stock Performance

Shares of Pioneer Natural Resources stock opened at $269.62 on Tuesday. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 0.90. The company has a market capitalization of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28. The company has a fifty day moving average of $259.65 and a 200 day moving average of $240.76.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data 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). The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 21.21% and a net margin of 24.28%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $5.91 EPS. On average, sell-side analysts anticipate that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Pioneer Natural Resources

In other news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction on Thursday, March 28th. The stock was 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 $1,302,140.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the firm’s stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value of $369,505.20. Following the sale, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock valued at $9,067,373 in the last quarter. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Pioneer Natural Resources

Institutional investors have recently made changes to their positions in the company. Hartford Financial Management Inc. increased its position in 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 valued at $26,000 after purchasing an additional 44 shares during the period. Sachetta LLC purchased a new position in Pioneer Natural Resources during the fourth quarter valued at approximately $27,000. DecisionPoint Financial LLC raised its stake in Pioneer Natural Resources by 114.6% in the first quarter. DecisionPoint Financial LLC now owns 103 shares of the oil and gas development company’s stock worth $28,000 after buying an additional 55 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in Pioneer Natural Resources during the third quarter worth $29,000. Finally, Carmel Capital Partners LLC bought a new stake in Pioneer Natural Resources during the 3rd quarter valued at $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.