Pioneer Natural Resources (NYSE:PXD) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a report released on Sunday. The brokerage issued a hold rating on the oil and gas development company’s stock.

Several other analysts have also issued reports on the company. Mizuho boosted their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a neutral rating in a report on Tuesday, March 19th. Stifel Nicolaus cut their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a hold rating for the company in a report on Tuesday, January 23rd. Truist Financial boosted their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a hold rating in a report on Friday, April 5th. Susquehanna boosted their price objective on Pioneer Natural Resources from $237.00 to $246.00 and gave the company a neutral rating in a research report on Monday, March 4th. Finally, Scotiabank boosted their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a sector perform rating in a research report on Thursday, April 11th. 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. Based on data from MarketBeat.com, Pioneer Natural Resources currently has a consensus rating of Hold and an average target price of $259.95.

Pioneer Natural Resources Stock Performance

Shares of PXD opened at $270.31 on Friday. The business has a fifty day moving average of $250.68 and a 200 day moving average of $238.49. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72. The firm has a market capitalization of $63.15 billion, a P/E ratio of 13.36 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the firm posted $5.91 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Pioneer Natural Resources will post 21.5 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.79%. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Insider Buying and Selling at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director J Kenneth Thompson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the sale, the director now directly owns 16,070 shares in the company, valued at $4,017,500. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Pioneer Natural Resources news, Director J Kenneth Thompson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the sale, the director now directly owns 16,070 shares in the company, valued at $4,017,500. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Christopher L. Washburn sold 1,416 shares of the company’s stock in a transaction that occurred 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 owns 4,990 shares in the company, valued at $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 worth $9,067,373 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PXD. Fairfield Bush & CO. bought a new position in shares of Pioneer Natural Resources during the first quarter valued at approximately $42,000. Cetera Advisor Networks LLC grew its stake in shares of Pioneer Natural Resources by 59.5% during the first quarter. Cetera Advisor Networks LLC now owns 2,074 shares of the oil and gas development company’s stock valued at $519,000 after buying an additional 774 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Pioneer Natural Resources by 52.1% during the first quarter. Cetera Investment Advisers now owns 3,249 shares of the oil and gas development company’s stock valued at $812,000 after buying an additional 1,113 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Pioneer Natural Resources by 22.6% during the first quarter. Baird Financial Group Inc. now owns 108,614 shares of the oil and gas development company’s stock valued at $27,157,000 after buying an additional 20,023 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Pioneer Natural Resources by 35.9% during the first quarter. Mather Group LLC. now owns 3,430 shares of the oil and gas development company’s stock valued at $858,000 after buying an additional 907 shares during the last quarter. 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.