Pioneer Natural Resources (NYSE:PXD) announced a quarterly dividend on Thursday, May 21st, RTT News reports. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.55 per share by the oil and gas development company on Tuesday, July 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, June 29th.
Pioneer Natural Resources has raised its dividend payment by an average of 201.8% per year over the last three years and has increased its dividend every year for the last 2 years. Pioneer Natural Resources has a payout ratio of 224.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Pioneer Natural Resources to earn $1.50 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 146.7%.
Shares of PXD stock opened at $92.42 on Friday. The company has a 50 day moving average price of $80.37 and a 200-day moving average price of $115.63. Pioneer Natural Resources has a 52 week low of $48.62 and a 52 week high of $159.01. The firm has a market capitalization of $15.32 billion, a PE ratio of 22.16, a P/E/G ratio of 9.89 and a beta of 1.78. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.19.
A number of equities analysts recently issued reports on PXD shares. Edward Jones downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Piper Sandler downgraded shares of Pioneer Natural Resources from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $205.00 to $63.00 in a report on Tuesday, March 24th. Zacks Investment Research downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $147.00 price objective on the stock. in a report on Monday, February 10th. Raymond James downgraded shares of Pioneer Natural Resources from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $180.00 to $110.00 in a report on Tuesday, March 17th. Finally, Bank of America raised their price objective on shares of Pioneer Natural Resources from $98.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $122.14.
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 primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado, and the West Panhandle field in the Texas Panhandle.
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