Pioneer Natural Resources (NYSE:PXD) Coverage Initiated by Analysts at StockNews.com

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

A number of other equities analysts have also recently weighed in on the company. Mizuho upped their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. Truist Financial increased their target price 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. Royal Bank of Canada reiterated a sector perform rating and set a $279.00 target price on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Stifel Nicolaus reduced their target price on Pioneer Natural Resources from $243.00 to $224.00 and set a hold rating for the company in a research note on Tuesday, January 23rd. Finally, Scotiabank increased their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a sector perform rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Pioneer Natural Resources currently has an average rating of Hold and an average target price of $259.00.

Pioneer Natural Resources Stock Down 0.7 %

NYSE PXD opened at $269.01 on Friday. The stock has a market cap of $62.85 billion, a PE ratio of 13.29 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 business has a 50 day moving average price of $247.51 and a two-hundred day moving average price of $237.22. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21.

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 for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.91 EPS. As a group, sell-side analysts predict that Pioneer Natural Resources will post 20.88 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

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

Insiders Place Their Bets

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the sale, the executive vice president now directly owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the transaction, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark H. Kleinman sold 3,500 shares of the firm’s stock in a transaction on 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 directly owns 49,856 shares in the company, valued at $11,683,753.60. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock valued at $9,067,373 over the last three months. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Procyon Advisors LLC increased its holdings in shares of Pioneer Natural Resources by 8.3% during the first quarter. Procyon Advisors LLC now owns 12,213 shares of the oil and gas development company’s stock valued at $3,206,000 after purchasing an additional 933 shares during the period. Signet Financial Management LLC increased its holdings in shares of Pioneer Natural Resources by 12.6% during the first quarter. Signet Financial Management LLC now owns 2,113 shares of the oil and gas development company’s stock valued at $555,000 after purchasing an additional 236 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Pioneer Natural Resources during the first quarter valued at $326,000. Sovereign Financial Group Inc. acquired a new position in shares of Pioneer Natural Resources during the first quarter valued at $227,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Pioneer Natural Resources during the first quarter valued at $52,000. 80.57% of the stock is 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. The company was founded in 1997 and is headquartered in Irving, Texas.