Stifel Nicolaus Analysts Give Pioneer Natural Resources (PXD) a $313.00 Price Target

Stifel Nicolaus set a $313.00 price objective on Pioneer Natural Resources (NYSE:PXD) in a report issued on Wednesday morning. The firm currently has a buy rating on the oil and gas development company’s stock.

PXD has been the topic of several other reports. Seaport Global Securities upgraded Pioneer Natural Resources from a neutral rating to a buy rating in a research note on Tuesday, December 19th. Zacks Investment Research upgraded Pioneer Natural Resources from a hold rating to a buy rating and set a $176.00 price objective on the stock in a research note on Friday, December 15th. Jefferies Group set a $192.00 price objective on Pioneer Natural Resources and gave the company a buy rating in a research note on Wednesday, December 20th. Mizuho set a $202.00 price objective on Pioneer Natural Resources and gave the company a buy rating in a research note on Tuesday, January 16th. Finally, Piper Jaffray set a $227.00 price objective on Pioneer Natural Resources and gave the company a buy rating in a research note on Wednesday, March 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $212.45.

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Shares of NYSE PXD opened at $171.78 on Wednesday. The firm has a market capitalization of $29,254.30, a PE ratio of 79.53, a P/E/G ratio of 2.15 and a beta of 0.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.41. Pioneer Natural Resources has a 12-month low of $125.46 and a 12-month high of $192.93.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.63. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The company’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. analysts anticipate that Pioneer Natural Resources will post 6.3 earnings per share for the current year.

Pioneer Natural Resources announced that its board has approved a share buyback program on Tuesday, February 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas development company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

The company also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a dividend yield of 0.18%. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s payout ratio is 14.81%.

In other news, SVP Mark H. Kleinman sold 1,150 shares of Pioneer Natural Resources stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $180.17, for a total transaction of $207,195.50. Following the sale, the senior vice president now owns 13,327 shares in the company, valued at $2,401,125.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris J. Cheatwood sold 9,513 shares of Pioneer Natural Resources stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $175.93, for a total value of $1,673,622.09. Following the sale, the executive vice president now owns 42,931 shares in the company, valued at approximately $7,552,850.83. The disclosure for this sale can be found here. Insiders have sold 18,207 shares of company stock worth $3,219,653 in the last quarter. Insiders own 0.89% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PXD. Pacer Advisors Inc. grew its holdings in shares of Pioneer Natural Resources by 10.2% during the third quarter. Pacer Advisors Inc. now owns 4,300 shares of the oil and gas development company’s stock worth $634,000 after buying an additional 397 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Pioneer Natural Resources by 0.9% during the third quarter. Great West Life Assurance Co. Can now owns 121,676 shares of the oil and gas development company’s stock worth $17,932,000 after buying an additional 1,124 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Pioneer Natural Resources by 4.1% during the third quarter. Legal & General Group Plc now owns 799,860 shares of the oil and gas development company’s stock worth $118,010,000 after buying an additional 31,788 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Pioneer Natural Resources by 19.1% during the third quarter. Schroder Investment Management Group now owns 286,265 shares of the oil and gas development company’s stock worth $42,238,000 after buying an additional 45,862 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Pioneer Natural Resources by 2.5% during the third quarter. Amalgamated Bank now owns 18,129 shares of the oil and gas development company’s stock worth $2,675,000 after buying an additional 442 shares during the last quarter. 89.40% of the stock is currently owned by hedge funds and other institutional investors.

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Pioneer Natural Resources Company Profile

Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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.

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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