Pioneer Natural Resources (NYSE:PXD) Rating Reiterated by Citigroup

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Citigroup restated their buy rating on shares of Pioneer Natural Resources (NYSE:PXD) in a research report report published on Wednesday. The firm currently has a $175.00 price target on the oil and gas development company’s stock, up from their prior price target of $173.00.

Other equities research analysts also recently issued reports about the stock. Mizuho raised shares of Pioneer Natural Resources from a neutral rating to a buy rating and set a $191.00 price target for the company in a research note on Thursday, October 10th. Scotiabank began coverage on shares of Pioneer Natural Resources in a research note on Tuesday. They set a sector perform rating and a $154.00 price target for the company. Williams Capital reissued a buy rating and set a $190.00 price target on shares of Pioneer Natural Resources in a research note on Tuesday, November 5th. Robert W. Baird boosted their price target on shares of Pioneer Natural Resources from $142.00 to $157.00 and gave the stock an outperform rating in a research note on Monday, September 30th. Finally, Raymond James dropped their price target on shares of Pioneer Natural Resources from $220.00 to $180.00 and set a strong-buy rating for the company in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $187.22.

Shares of PXD stock traded up $1.91 during trading hours on Wednesday, reaching $134.28. 817,421 shares of the company were exchanged, compared to its average volume of 1,648,643. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.78 and a quick ratio of 0.68. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 0.98 and a beta of 1.14. The stock’s fifty day moving average is $128.75 and its two-hundred day moving average is $137.24. Pioneer Natural Resources has a fifty-two week low of $114.79 and a fifty-two week high of $178.22.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Monday, November 4th. The oil and gas development company reported $1.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.02 by ($0.03). The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.32 billion. Pioneer Natural Resources had a return on equity of 9.86% and a net margin of 7.88%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. On average, research analysts anticipate that Pioneer Natural Resources will post 8.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.31%. The ex-dividend date is Monday, December 30th. Pioneer Natural Resources’s payout ratio is presently 13.95%.

In other news, Director J Kenneth Thompson bought 500 shares of the stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of $121.01 per share, with a total value of $60,505.00. Following the completion of the purchase, the director now owns 13,024 shares of the company’s stock, valued at $1,576,034.24. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris J. Cheatwood sold 5,619 shares of the company’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 directly owns 39,027 shares of the company’s stock, valued at approximately $5,477,439.45. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pioneer Natural Resources by 35.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,623,503 shares of the oil and gas development company’s stock valued at $1,788,392,000 after buying an additional 3,032,727 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Pioneer Natural Resources by 203.6% in the second quarter. Primecap Management Co. CA now owns 4,150,495 shares of the oil and gas development company’s stock valued at $638,595,000 after buying an additional 2,783,199 shares during the period. BlackRock Inc. boosted its holdings in shares of Pioneer Natural Resources by 9.6% in the second quarter. BlackRock Inc. now owns 11,490,193 shares of the oil and gas development company’s stock valued at $1,767,880,000 after buying an additional 1,008,677 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Pioneer Natural Resources by 1,105.9% in the second quarter. Nuveen Asset Management LLC now owns 820,509 shares of the oil and gas development company’s stock valued at $126,243,000 after buying an additional 752,470 shares during the period. Finally, USS Investment Management Ltd boosted its holdings in shares of Pioneer Natural Resources by 37.1% in the third quarter. USS Investment Management Ltd now owns 1,164,718 shares of the oil and gas development company’s stock valued at $146,492,000 after buying an additional 315,100 shares during the period. 87.59% 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 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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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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