Pioneer Natural Resources (NYSE:PXD) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a report published on Tuesday morning. The brokerage issued a hold rating on the oil and gas development company’s stock.

Several other brokerages have also issued reports on PXD. Scotiabank upped their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a sector perform rating in a research report on Thursday, April 11th. Mizuho increased their price objective on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a neutral rating in a research report on Tuesday, March 19th. Stifel Nicolaus boosted their target price on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a hold rating in a research report on Tuesday, April 23rd. Truist Financial upped their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a hold rating in a research note on Friday, April 5th. Finally, Susquehanna lifted their price objective on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a neutral rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pioneer Natural Resources has an average rating of Hold and an average target price of $264.10.

Pioneer Natural Resources Stock Performance

Shares of Pioneer Natural Resources stock opened at $269.62 on Tuesday. The company has a market capitalization of $63.00 billion, a PE ratio of 13.32 and a beta of 1.28. The company has a 50-day simple moving average of $260.37 and a two-hundred day simple moving average of $240.89. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 0.90.

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 the consensus estimate of $5.41 by ($0.13). The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 21.21% and a net margin of 24.28%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $5.91 EPS. Research analysts expect that Pioneer Natural Resources will post 22.07 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed 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 yield of 3.80%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 24.70%.

Insider Activity

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction dated 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 directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $108,711,848. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J Kenneth Thompson sold 1,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the director now directly owns 16,070 shares in the company, valued at approximately $4,017,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,766 shares of company stock valued at $9,067,373. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pioneer Natural Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Advisory Services Inc. increased its holdings in Pioneer Natural Resources by 1.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,373 shares of the oil and gas development company’s stock valued at $1,148,000 after purchasing an additional 42 shares during the last quarter. NorthRock Partners LLC grew its stake in shares of Pioneer Natural Resources by 4.8% in the first quarter. NorthRock Partners LLC now owns 1,321 shares of the oil and gas development company’s stock valued at $347,000 after buying an additional 61 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Pioneer Natural Resources by 36.9% in the 1st quarter. Atomi Financial Group Inc. now owns 1,984 shares of the oil and gas development company’s stock valued at $521,000 after buying an additional 535 shares during the period. Tectonic Advisors LLC lifted its stake in Pioneer Natural Resources by 15.5% during the 1st quarter. Tectonic Advisors LLC now owns 1,917 shares of the oil and gas development company’s stock worth $503,000 after acquiring an additional 257 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in Pioneer Natural Resources by 16.2% during the 1st quarter. Brooklyn Investment Group now owns 1,641 shares of the oil and gas development company’s stock valued at $433,000 after acquiring an additional 229 shares during the period. 80.57% of the stock is owned by hedge funds and other institutional investors.

Pioneer Natural Resources Company Profile

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.