Pioneer Natural Resources (NYSE:PXD) Price Target Increased to $182.00 by Analysts at KeyCorp

Pioneer Natural Resources (NYSE:PXD) had its price target boosted by KeyCorp from $178.00 to $182.00 in a research note released on Thursday, Price Targets.com reports. KeyCorp currently has an overweight rating on the oil and gas development company’s stock.

Several other research firms have also commented on PXD. Sanford C. Bernstein reissued a market perform rating and issued a $143.00 target price on shares of Pioneer Natural Resources in a report on Monday, March 8th. Citigroup increased their price objective on Pioneer Natural Resources from $154.00 to $196.00 in a report on Tuesday, March 23rd. Piper Sandler boosted their target price on Pioneer Natural Resources from $220.00 to $226.00 and gave the stock an overweight rating in a research note on Monday, April 5th. MKM Partners increased their price target on shares of Pioneer Natural Resources from $207.00 to $220.00 in a research note on Monday, April 5th. Finally, TD Securities raised their price objective on shares of Pioneer Natural Resources from $195.00 to $200.00 and gave the stock a buy rating in a report on Wednesday, May 5th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $178.00.

PXD stock opened at $163.13 on Thursday. The stock’s 50 day moving average price is $155.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.79 and a quick ratio of 0.69. Pioneer Natural Resources has a fifty-two week low of $76.58 and a fifty-two week high of $175.37. The stock has a market capitalization of $39.80 billion, a price-to-earnings ratio of -57.24, a price-to-earnings-growth ratio of 1.59 and a beta of 1.93.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, May 4th. The oil and gas development company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.42 by $0.35. Pioneer Natural Resources had a negative net margin of 6.97% and a positive return on equity of 4.10%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business posted $1.15 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that Pioneer Natural Resources will post 11.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 14th. Investors of record on Wednesday, June 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $2.24 dividend on an annualized basis and a yield of 1.37%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 136.59%.

In other news, Director Larry R. Grillot sold 500 shares of Pioneer Natural Resources stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $166.13, for a total value of $83,065.00. Following the sale, the director now owns 11,223 shares of the company’s stock, valued at $1,864,476.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jerome D. Hall, Jr. sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $163.35, for a total transaction of $490,050.00. Following the transaction, the executive vice president now owns 50,333 shares in the company, valued at $8,221,895.55. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of PXD. AE Wealth Management LLC grew its holdings in Pioneer Natural Resources by 10.8% during the fourth quarter. AE Wealth Management LLC now owns 6,724 shares of the oil and gas development company’s stock worth $766,000 after acquiring an additional 658 shares during the period. First Trust Advisors LP grew its stake in shares of Pioneer Natural Resources by 19.6% during the 4th quarter. First Trust Advisors LP now owns 225,749 shares of the oil and gas development company’s stock worth $25,711,000 after purchasing an additional 37,063 shares during the period. California Public Employees Retirement System increased its holdings in shares of Pioneer Natural Resources by 5.2% in the 4th quarter. California Public Employees Retirement System now owns 399,463 shares of the oil and gas development company’s stock valued at $45,495,000 after purchasing an additional 19,645 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Pioneer Natural Resources by 0.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 62,928 shares of the oil and gas development company’s stock valued at $7,167,000 after purchasing an additional 210 shares during the period. Finally, State of Wisconsin Investment Board lifted its stake in shares of Pioneer Natural Resources by 22.5% in the fourth quarter. State of Wisconsin Investment Board now owns 169,067 shares of the oil and gas development company’s stock valued at $19,255,000 after purchasing an additional 31,018 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

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 Permian Basin in West Texas. As of December 31, 2020, the company had proved undeveloped reserves and proved developed non-producing reserves of 31 million barrels of oil, 17 million barrels of NGLs, and 88 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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