Pioneer Natural Resources (NYSE:PXD) Reaches New 12-Month High at $263.20

Shares of Pioneer Natural Resources (NYSE:PXDGet Free Report) hit a new 52-week high on Monday . The stock traded as high as $263.20 and last traded at $261.55, with a volume of 74664 shares changing hands. The stock had previously closed at $262.50.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Mizuho lifted their price target on 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 reduced their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a research report on Tuesday, January 23rd. UBS Group reduced their price target on Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Susquehanna boosted their price objective on Pioneer Natural Resources from $237.00 to $246.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, StockNews.com initiated coverage on Pioneer Natural Resources in a research report on Thursday, March 28th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $254.90.

Read Our Latest Stock Report on PXD

Pioneer Natural Resources Price Performance

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 stock has a 50 day moving average price of $238.78 and a 200-day moving average price of $234.30. The stock has a market capitalization of $62.95 billion, a price-to-earnings ratio of 13.31 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXDGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.91 earnings per share. On average, analysts forecast that Pioneer Natural Resources will post 20.29 earnings per share for the current 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 of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 24.70%.

Insiders Place Their Bets

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was 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 of the company’s stock, valued at $11,683,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Pioneer Natural Resources news, EVP Jerome D. Hall, Jr. sold 7,000 shares of Pioneer Natural Resources stock in a transaction on Friday, March 15th. The stock was sold at an average price of $250.74, for a total value of $1,755,180.00. Following the sale, the executive vice president now owns 76,885 shares in the company, valued at $19,278,144.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $820,225.00. Following the completion of the sale, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,766 shares of company stock valued at $9,067,373. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Pioneer Natural Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hartford Financial Management Inc. raised its position in Pioneer Natural Resources by 61.1% in the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after purchasing an additional 44 shares during the period. Sachetta LLC purchased a new stake in Pioneer Natural Resources in the fourth quarter valued at $27,000. BluePath Capital Management LLC purchased a new stake in Pioneer Natural Resources in the third quarter valued at $29,000. Carmel Capital Partners LLC purchased a new stake in shares of Pioneer Natural Resources in the 3rd quarter valued at $34,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Pioneer Natural Resources by 85.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock valued at $34,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Company Profile

(Get Free Report)

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.

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