Susquehanna Raises Pioneer Natural Resources (NYSE:PXD) Price Target to $278.00

Pioneer Natural Resources (NYSE:PXD) had its price target hoisted by Susquehanna from $246.00 to $278.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the oil and gas development company’s stock.

Other research analysts have also issued research reports about the company. StockNews.com initiated coverage on Pioneer Natural Resources in a research report on Sunday. They issued a hold rating for the company. Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a neutral rating in a research report on Tuesday, March 19th. Royal Bank of Canada restated a sector perform rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. 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. Finally, Truist Financial boosted their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a hold rating in a research report on Friday, April 5th. Two equities 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. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $264.10.

Pioneer Natural Resources Price Performance

PXD stock opened at $275.52 on Monday. 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 has a 52-week low of $196.74 and a 52-week high of $278.83. The stock’s 50 day moving average is $253.53 and its two-hundred day moving average is $239.42. The company has a market capitalization of $64.37 billion, a PE ratio of 13.61 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data 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 return on equity of 22.42% and a net margin of 25.28%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the prior year, the firm earned $5.91 earnings per share. Pioneer Natural Resources’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts predict that Pioneer Natural Resources will post 21.66 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

Insider Transactions at Pioneer Natural Resources

In other news, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip A. Gobe sold 2,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total value of $522,240.00. Following the sale, the director now directly owns 11,132 shares in the company, valued at $2,906,787.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,766 shares of company stock valued at $9,067,373. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PXD. Hartford Financial Management Inc. grew its holdings in shares of Pioneer Natural Resources by 61.1% during the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after buying an additional 44 shares in the last quarter. Sachetta LLC purchased a new position in shares of Pioneer Natural Resources during the fourth quarter valued at $27,000. BluePath Capital Management LLC purchased a new position in shares of Pioneer Natural Resources during the third quarter valued at $29,000. Carmel Capital Partners LLC purchased a new position in shares of Pioneer Natural Resources during the third quarter valued at $34,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Pioneer Natural Resources by 85.0% during the third quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock valued at $34,000 after buying an additional 68 shares in the last quarter. Hedge funds and other 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.