Pioneer Natural Resources (NYSE:PXD) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 4,080,000 shares, a decrease of 8.9% from the August 15th total of 4,480,000 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,610,000 shares, the days-to-cover ratio is presently 2.5 days.
PXD has been the subject of a number of research analyst reports. Robert W. Baird reiterated an “outperform” rating and issued a $157.00 target price (up previously from $142.00) on shares of Pioneer Natural Resources in a research report on Monday. TheStreet downgraded shares of Pioneer Natural Resources from a “b-” rating to a “c+” rating in a research report on Tuesday, July 23rd. Wells Fargo & Co increased their target price on shares of Pioneer Natural Resources from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Royal Bank of Canada reiterated a “buy” rating and issued a $190.00 target price on shares of Pioneer Natural Resources in a research report on Sunday, August 11th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Pioneer Natural Resources in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Pioneer Natural Resources has a consensus rating of “Buy” and an average target price of $191.14.
Shares of Pioneer Natural Resources stock traded down $0.55 during midday trading on Monday, reaching $125.77. 1,504,078 shares of the company’s stock traded hands, compared to its average volume of 1,779,430. The company has a market cap of $21.12 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 0.71 and a beta of 1.14. The company’s 50 day simple moving average is $127.91 and its 200 day simple moving average is $142.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.76 and a current ratio of 0.86. Pioneer Natural Resources has a 52 week low of $114.79 and a 52 week high of $189.78.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.13. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.32 billion. Pioneer Natural Resources had a net margin of 9.65% and a return on equity of 10.04%. Pioneer Natural Resources’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. As a group, equities research analysts predict that Pioneer Natural Resources will post 8.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.16. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 13.95%.
In other Pioneer Natural Resources news, EVP Chris J. Cheatwood sold 5,619 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $140.35, for a total value of $788,626.65. Following the completion of the sale, the executive vice president now owns 39,027 shares in the company, valued at approximately $5,477,439.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J Kenneth Thompson bought 500 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was bought at an average price of $121.01 per share, with a total value of $60,505.00. Following the transaction, the director now owns 13,024 shares in the company, valued at $1,576,034.24. The disclosure for this purchase can be found here. 0.91% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in PXD. Berman Capital Advisors LLC grew its stake in Pioneer Natural Resources by 64.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the oil and gas development company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Parallax Volatility Advisers L.P. grew its stake in Pioneer Natural Resources by 1,606.7% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 256 shares of the oil and gas development company’s stock valued at $39,000 after buying an additional 241 shares during the last quarter. HM Payson & Co. acquired a new position in Pioneer Natural Resources in the 2nd quarter valued at $53,000. Twin Tree Management LP acquired a new position in Pioneer Natural Resources in the 1st quarter valued at $58,000. Finally, Foresters Asset Management Inc. grew its stake in Pioneer Natural Resources by 35.7% in the 2nd quarter. Foresters Asset Management Inc. now owns 380 shares of the oil and gas development company’s stock valued at $58,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.
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 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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