Pioneer Natural Resources (NYSE:PXD) PT Lowered to $273.00

Pioneer Natural Resources (NYSE:PXD – Get Rating) had its price target trimmed by Stifel Nicolaus from $290.00 to $273.00 in a research note issued to investors on Monday, The Fly reports.

Several other research firms have also weighed in on PXD. Citigroup upgraded Pioneer Natural Resources from a neutral rating to a buy rating and lifted their price target for the company from $193.00 to $210.00 in a research report on Thursday, March 23rd. Raymond James decreased their target price on shares of Pioneer Natural Resources from $271.00 to $268.00 in a research note on Wednesday, May 3rd. Wells Fargo & Company raised Pioneer Natural Resources from an underweight rating to an equal weight rating and dropped their price target for the stock from $225.00 to $220.00 in a research report on Thursday, March 2nd. Susquehanna raised their price objective on Pioneer Natural Resources from $266.00 to $278.00 and gave the company a positive rating in a research report on Friday, April 21st. Finally, Roth Capital reissued a buy rating on shares of Pioneer Natural Resources in a report on Wednesday, February 22nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $258.70.

Pioneer Natural Resources Price Performance

Shares of NYSE PXD opened at $207.60 on Monday. Pioneer Natural Resources has a 1 year low of $177.26 and a 1 year high of $288.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.76. The company’s 50-day moving average is $210.29 and its 200 day moving average is $221.28. The stock has a market capitalization of $48.52 billion, a P/E ratio of 7.36, a P/E/G ratio of 1.19 and a beta of 1.42.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The oil and gas development company reported $5.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.90 by $0.31. Pioneer Natural Resources had a net margin of 31.15% and a return on equity of 30.71%. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter in the previous year, the company earned $7.74 earnings per share. Pioneer Natural Resources’s quarterly revenue was down 26.4% on a year-over-year basis. On average, sell-side analysts expect that Pioneer Natural Resources will post 21.07 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Thursday, June 1st will be given a dividend of $3.34 per share. This represents a $13.36 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Wednesday, May 31st. Pioneer Natural Resources’s payout ratio is currently 17.72%.

Institutional Investors Weigh In On Pioneer Natural Resources

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Pioneer Natural Resources by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,283,043 shares of the oil and gas development company’s stock valued at $4,175,358,000 after acquiring an additional 511,005 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Pioneer Natural Resources by 9.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,078,403 shares of the oil and gas development company’s stock valued at $1,532,686,000 after buying an additional 589,073 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Pioneer Natural Resources by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 4,337,964 shares of the oil and gas development company’s stock valued at $884,893,000 after buying an additional 149,026 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Pioneer Natural Resources by 46.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock valued at $968,877,000 after buying an additional 1,343,601 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Pioneer Natural Resources by 108.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,469,309 shares of the oil and gas development company’s stock valued at $859,012,000 after buying an additional 1,802,353 shares in the last quarter. Institutional investors own 89.75% of the company’s stock.

Pioneer Natural Resources Company Profile

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Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.