Pioneer Natural Resources (NYSE:PXD) PT Raised to $275.00

Pioneer Natural Resources (NYSE:PXD) had its target price raised by Stifel Nicolaus from $237.00 to $275.00 in a research report report published on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the oil and gas development company’s stock.

Other research analysts have also recently issued reports about the company. Truist Financial increased their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a hold rating in a research note on Friday, April 5th. StockNews.com started coverage on Pioneer Natural Resources in a research note on Sunday, April 21st. They issued a hold rating for the company. Mizuho increased their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a neutral rating in a research note on Tuesday, March 19th. Royal Bank of Canada reaffirmed a sector perform rating and set a $279.00 target price on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Finally, Scotiabank raised their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a sector perform rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Pioneer Natural Resources has an average rating of Hold and an average price target of $264.10.

Pioneer Natural Resources Trading Down 2.3 %

Shares of PXD stock opened at $268.87 on Tuesday. The stock’s fifty day moving average price is $255.15 and its two-hundred day moving average price is $239.90. The company has a market cap of $62.81 billion, a PE ratio of 13.28 and a beta of 1.31. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the company posted $5.91 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 annualized dividend and a dividend yield of 3.81%. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

Insider Activity

In other news, EVP Mark H. Kleinman sold 3,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the completion of the sale, the executive vice president now directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the transaction, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total value of $820,225.00. Following the transaction, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock worth $9,067,373 in the last three months. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Pioneer Natural Resources

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Pioneer Natural Resources by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company’s stock worth $4,594,616,000 after buying an additional 113,751 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Pioneer Natural Resources by 7.6% during the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock worth $748,271,000 after buying an additional 231,470 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Pioneer Natural Resources by 25.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after buying an additional 662,891 shares in the last quarter. Northern Trust Corp lifted its position in shares of Pioneer Natural Resources by 2.2% during the 3rd quarter. Northern Trust Corp now owns 2,497,868 shares of the oil and gas development company’s stock worth $573,386,000 after buying an additional 54,841 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Pioneer Natural Resources by 7.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,923,819 shares of the oil and gas development company’s stock worth $443,574,000 after buying an additional 134,982 shares in the last quarter. Institutional investors own 80.57% 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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.