Stifel Nicolaus Raises Pioneer Natural Resources (NYSE:PXD) Price Target to $275.00

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

A number of other research analysts also recently commented on the company. StockNews.com began coverage on Pioneer Natural Resources in a report on Sunday, April 21st. They issued a hold rating for the company. Truist Financial lifted their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a hold rating in a research note on Friday, April 5th. Scotiabank upped their price target on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a sector perform rating in a report on Thursday, April 11th. Susquehanna raised their price objective on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a neutral rating in a report on Monday. Finally, Mizuho upped their target price on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a neutral rating in a research note on Tuesday, March 19th. Two 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 data from MarketBeat.com, Pioneer Natural Resources currently has a consensus rating of Hold and an average target price of $264.10.

Pioneer Natural Resources Stock Down 0.1 %

Shares of NYSE:PXD opened at $275.15 on Tuesday. The company has a market capitalization of $64.28 billion, a price-to-earnings ratio of 13.59 and a beta of 1.31. The company has a 50 day moving average of $254.41 and a two-hundred day moving average of $239.67. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83. 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 firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. Pioneer Natural Resources’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $5.91 earnings per share. As a group, analysts forecast that Pioneer Natural Resources will post 22.47 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were given a dividend of $2.56 per share. 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 3.72%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 24.70%.

Insider Transactions at Pioneer Natural Resources

In related news, CAO Christopher L. Washburn sold 1,416 shares of the firm’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 transaction of $369,505.20. Following the transaction, the chief accounting officer now owns 4,990 shares in the company, valued at $1,302,140.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the transaction, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott D. Sheffield sold 10,000 shares of the business’s 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 sale, the director now owns 462,112 shares in the company, valued at $108,711,848. The disclosure for this sale can be found here. In the last three months, insiders sold 36,766 shares of company stock valued at $9,067,373. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Pioneer Natural Resources

A number of large investors have recently added to or reduced their stakes in PXD. IFP Advisors Inc raised its position in shares of Pioneer Natural Resources by 3.1% during the third quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock worth $330,000 after purchasing an additional 43 shares during the period. Naples Global Advisors LLC acquired a new stake in Pioneer Natural Resources during the 3rd quarter worth about $216,000. Eastern Bank purchased a new stake in Pioneer Natural Resources during the third quarter valued at about $645,000. Avior Wealth Management LLC boosted its holdings in shares of Pioneer Natural Resources by 13.5% in the third quarter. Avior Wealth Management LLC now owns 1,281 shares of the oil and gas development company’s stock worth $294,000 after buying an additional 152 shares during the period. Finally, Meridian Wealth Management LLC increased its position in shares of Pioneer Natural Resources by 97.6% in the third quarter. Meridian Wealth Management LLC now owns 2,422 shares of the oil and gas development company’s stock worth $556,000 after acquiring an additional 1,196 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors.

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.