Truist Financial Lowers Pioneer Natural Resources (NYSE:PXD) Price Target to $238.00

Pioneer Natural Resources (NYSE:PXD) had its price objective lowered by Truist Financial from $255.00 to $238.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a hold rating on the oil and gas development company’s stock.

PXD has been the subject of a number of other reports. TD Cowen reaffirmed a market perform rating and issued a $256.00 target price (down from $280.00) on shares of Pioneer Natural Resources in a research note on Thursday, October 19th. Citigroup boosted their target price on shares of Pioneer Natural Resources from $234.00 to $256.00 in a report on Wednesday, September 20th. BMO Capital Markets downgraded shares of Pioneer Natural Resources from an outperform rating to a market perform rating in a report on Monday, October 16th. Susquehanna reiterated a neutral rating and issued a $250.00 price objective (down from $276.00) on shares of Pioneer Natural Resources in a report on Monday, November 6th. Finally, StockNews.com began coverage on Pioneer Natural Resources in a research report on Monday, November 13th. They issued a hold rating for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $258.45.

Pioneer Natural Resources Trading Down 0.3 %

PXD opened at $237.37 on Friday. The firm has a market capitalization of $55.38 billion, a price-to-earnings ratio of 11.34 and a beta of 1.38. The company’s 50 day simple moving average is $236.59 and its two-hundred day simple moving average is $223.97. Pioneer Natural Resources has a 1-year low of $177.26 and a 1-year high of $258.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.70.

Pioneer Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Thursday, November 30th will be given a dividend of $3.20 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $1.84. This represents a $12.80 dividend on an annualized basis and a dividend yield of 5.39%. Pioneer Natural Resources’s payout ratio is currently 23.88%.

Institutional Investors Weigh In On Pioneer Natural Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Financial Counselors Inc. increased its stake in Pioneer Natural Resources by 24.4% in the first quarter. Financial Counselors Inc. now owns 1,101 shares of the oil and gas development company’s stock valued at $225,000 after purchasing an additional 216 shares during the last quarter. Gradient Investments LLC raised its stake in Pioneer Natural Resources by 6.3% during the 2nd quarter. Gradient Investments LLC now owns 3,854 shares of the oil and gas development company’s stock worth $798,000 after acquiring an additional 227 shares in the last quarter. Xcel Wealth Management LLC raised its stake in Pioneer Natural Resources by 39.9% during the 2nd quarter. Xcel Wealth Management LLC now owns 4,720 shares of the oil and gas development company’s stock worth $978,000 after acquiring an additional 1,345 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Pioneer Natural Resources by 18.7% in the second quarter. EverSource Wealth Advisors LLC now owns 32,813 shares of the oil and gas development company’s stock valued at $6,798,000 after acquiring an additional 5,171 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Pioneer Natural Resources by 25.6% in the first quarter. Advisors Asset Management Inc. now owns 57,259 shares of the oil and gas development company’s stock valued at $11,695,000 after acquiring an additional 11,653 shares in the last quarter. 82.72% of the stock is currently owned by institutional investors and hedge funds.

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. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.