Pioneer Natural Resources (NYSE:PXD) Trading 5.7% Higher

Pioneer Natural Resources (NYSE:PXD) shares traded up 5.7% on Wednesday . The company traded as high as $131.17 and last traded at $130.51, 1,836,500 shares were traded during mid-day trading. An increase of 6% from the average session volume of 1,732,687 shares. The stock had previously closed at $123.49.

A number of equities research analysts recently weighed in on the stock. KeyCorp upped their target price on shares of Pioneer Natural Resources from $168.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Raymond James lowered their target price on shares of Pioneer Natural Resources from $220.00 to $180.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 17th. Citigroup restated a “buy” rating and issued a $175.00 target price (up previously from $173.00) on shares of Pioneer Natural Resources in a report on Wednesday, November 13th. TD Securities lowered their target price on shares of Pioneer Natural Resources from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, Scotiabank initiated coverage on shares of Pioneer Natural Resources in a report on Tuesday, November 12th. They issued a “sector perform” rating and a $154.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Pioneer Natural Resources currently has an average rating of “Buy” and a consensus target price of $184.80.

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a market cap of $21.18 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 0.94 and a beta of 1.21. The company’s 50 day simple moving average is $129.94 and its 200 day simple moving average is $134.82.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Monday, November 4th. The oil and gas development company reported $1.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.02 by ($0.03). Pioneer Natural Resources had a net margin of 7.88% and a return on equity of 9.86%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the business posted $2.07 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts expect that Pioneer Natural Resources will post 8.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.44 per share. The ex-dividend date is Monday, December 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.35%. Pioneer Natural Resources’s payout ratio is currently 13.95%.

In other news, EVP Chris J. Cheatwood sold 5,619 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $140.35, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.91% of the company’s stock.

Several hedge funds have recently modified their holdings of PXD. Price T Rowe Associates Inc. MD increased its stake in shares of Pioneer Natural Resources by 35.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,623,503 shares of the oil and gas development company’s stock worth $1,788,392,000 after purchasing an additional 3,032,727 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Pioneer Natural Resources by 203.6% during the 2nd quarter. Primecap Management Co. CA now owns 4,150,495 shares of the oil and gas development company’s stock worth $638,595,000 after purchasing an additional 2,783,199 shares during the last quarter. BlackRock Inc. increased its stake in shares of Pioneer Natural Resources by 9.6% during the 2nd quarter. BlackRock Inc. now owns 11,490,193 shares of the oil and gas development company’s stock worth $1,767,880,000 after purchasing an additional 1,008,677 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Pioneer Natural Resources by 1,105.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 820,509 shares of the oil and gas development company’s stock worth $126,243,000 after purchasing an additional 752,470 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Pioneer Natural Resources by 6,924.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 696,668 shares of the oil and gas development company’s stock worth $87,620,000 after purchasing an additional 686,750 shares during the last quarter. Institutional investors own 87.50% of the company’s stock.

About Pioneer Natural Resources (NYSE:PXD)

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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