Pioneer Natural Resources (NYSE:PXD) Given Average Rating of “Buy” by Analysts

Shares of Pioneer Natural Resources (NYSE:PXD) have earned a consensus recommendation of “Buy” from the twenty-six ratings firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $198.27.

Several analysts recently commented on PXD shares. Morgan Stanley upped their target price on Pioneer Natural Resources from $184.00 to $192.00 and gave the company an “equal weight” rating in a report on Wednesday, October 6th. Mizuho upped their target price on Pioneer Natural Resources from $224.00 to $231.00 and gave the company a “buy” rating in a report on Thursday, July 15th. Truist Securities increased their price target on Pioneer Natural Resources from $181.00 to $214.00 and gave the stock a “hold” rating in a report on Thursday, October 7th. Wells Fargo & Company increased their price target on Pioneer Natural Resources from $203.00 to $206.00 and gave the stock an “overweight” rating in a report on Monday, August 23rd. Finally, Sanford C. Bernstein upgraded Pioneer Natural Resources from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $156.00 to $202.00 in a report on Monday, June 21st.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Pioneer Natural Resources by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 24,113,046 shares of the oil and gas development company’s stock valued at $3,918,852,000 after purchasing an additional 1,098,706 shares during the last quarter. Capital International Investors increased its position in shares of Pioneer Natural Resources by 1.2% during the 2nd quarter. Capital International Investors now owns 5,166,661 shares of the oil and gas development company’s stock valued at $839,593,000 after purchasing an additional 59,286 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Pioneer Natural Resources by 13.2% during the 2nd quarter. Geode Capital Management LLC now owns 4,156,730 shares of the oil and gas development company’s stock valued at $673,782,000 after purchasing an additional 484,987 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Pioneer Natural Resources by 14.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,380,615 shares of the oil and gas development company’s stock valued at $549,417,000 after purchasing an additional 426,878 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Pioneer Natural Resources by 23.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,329,721 shares of the oil and gas development company’s stock valued at $541,146,000 after purchasing an additional 639,060 shares during the last quarter. 86.80% of the stock is owned by institutional investors and hedge funds.

PXD stock traded up $0.37 during trading on Friday, hitting $191.13. The company had a trading volume of 106,739 shares, compared to its average volume of 2,479,504. The business has a 50-day moving average of $158.11 and a 200-day moving average of $156.36. Pioneer Natural Resources has a one year low of $76.58 and a one year high of $196.64. The stock has a market cap of $46.63 billion, a PE ratio of 141.30, a PEG ratio of 1.40 and a beta of 1.93. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 0.31.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Sunday, August 1st. The oil and gas development company reported $2.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.56 by ($0.01). Pioneer Natural Resources had a net margin of 3.49% and a return on equity of 7.67%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the company earned ($0.32) earnings per share. The business’s revenue was up 298.0% on a year-over-year basis. Research analysts forecast that Pioneer Natural Resources will post 12.63 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Thursday, September 30th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Wednesday, September 29th. Pioneer Natural Resources’s payout ratio is currently 136.59%.

About Pioneer Natural Resources

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 in the operation of 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.

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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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