Pioneer Natural Resources (NYSE:PXD) Research Coverage Started at StockNews.com

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

A number of other research firms have also commented on PXD. Scotiabank raised their price objective on shares of 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. Royal Bank of Canada restated a sector perform rating and set a $279.00 target price on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Truist Financial raised their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a hold rating in a report on Friday, April 5th. Stifel Nicolaus reduced their target price on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a hold rating for the company in a report on Tuesday, January 23rd. Finally, Susquehanna raised their target price on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a neutral rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $264.10.

Pioneer Natural Resources Price Performance

NYSE PXD opened at $275.12 on Friday. Pioneer Natural Resources has a 12 month low of $196.74 and a 12 month high of $278.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72. The firm has a market capitalization of $64.27 billion, a PE ratio of 13.59 and a beta of 1.31. The company’s 50 day simple moving average is $252.53 and its 200 day simple moving average is $239.17.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the business earned $5.91 EPS. Pioneer Natural Resources’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pioneer Natural Resources will post 21.5 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 paid a dividend of $2.56 per share. 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 (DPR) is currently 24.70%.

Insider Buying and Selling at Pioneer Natural Resources

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction on Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, 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 transaction of $820,225.00. Following the transaction, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the transaction, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The disclosure for this sale can be found here. Insiders sold 36,766 shares of company stock valued at $9,067,373 in the last quarter. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Pioneer Natural Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IRON Financial LLC acquired a new stake in shares of Pioneer Natural Resources in the first quarter valued at about $730,000. Aquila Investment Management LLC grew its position in shares of Pioneer Natural Resources by 42.9% in the first quarter. Aquila Investment Management LLC now owns 10,000 shares of the oil and gas development company’s stock valued at $2,625,000 after purchasing an additional 3,000 shares during the last quarter. Community Financial Services Group LLC acquired a new stake in shares of Pioneer Natural Resources in the first quarter valued at about $3,475,000. Wesbanco Bank Inc. acquired a new stake in shares of Pioneer Natural Resources in the first quarter valued at about $262,000. Finally, Summit Trail Advisors LLC lifted its stake in shares of Pioneer Natural Resources by 42.4% in the first quarter. Summit Trail Advisors LLC now owns 2,065 shares of the oil and gas development company’s stock valued at $542,000 after buying an additional 615 shares during the period. 80.57% of the stock is owned by institutional investors and hedge funds.

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.