Pioneer Natural Resources (PXD) Shares Gap Up to $161.71

Shares of Pioneer Natural Resources (NYSE:PXD) gapped up before the market opened on Thursday . The stock had previously closed at $167.47, but opened at $161.71. Pioneer Natural Resources shares last traded at $159.24, with a volume of 67359 shares traded.

A number of analysts have recently commented on PXD shares. Seaport Global Securities reissued a “buy” rating on shares of Pioneer Natural Resources in a research note on Wednesday, July 25th. KLR Group raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and upped their price objective for the company from $212.00 to $254.00 in a research note on Tuesday, July 24th. Mizuho started coverage on shares of Pioneer Natural Resources in a research note on Monday, July 23rd. They set a “buy” rating and a $259.00 price objective for the company. Zacks Investment Research raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a research note on Monday, July 23rd. Finally, Jefferies Financial Group set a $244.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $235.96.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.20. The company has a market cap of $27.56 billion, a price-to-earnings ratio of 73.99, a P/E/G ratio of 1.84 and a beta of 1.04.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.38. Pioneer Natural Resources had a net margin of 15.98% and a return on equity of 9.47%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 112.2% on a year-over-year basis. Analysts anticipate that Pioneer Natural Resources will post 6.86 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were paid a $0.16 dividend. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.40%. Pioneer Natural Resources’s dividend payout ratio is 14.81%.

Several institutional investors have recently bought and sold shares of the company. Morgan Stanley lifted its holdings in shares of Pioneer Natural Resources by 39.3% in the 2nd quarter. Morgan Stanley now owns 961,513 shares of the oil and gas development company’s stock worth $181,958,000 after acquiring an additional 271,144 shares during the last quarter. Clinton Group Inc. acquired a new position in shares of Pioneer Natural Resources in the 3rd quarter worth approximately $4,478,000. Argent Trust Co acquired a new position in shares of Pioneer Natural Resources in the 2nd quarter worth approximately $409,000. Janus Henderson Group PLC lifted its holdings in shares of Pioneer Natural Resources by 6.4% in the 2nd quarter. Janus Henderson Group PLC now owns 83,171 shares of the oil and gas development company’s stock worth $15,739,000 after acquiring an additional 5,022 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its holdings in shares of Pioneer Natural Resources by 50.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,087 shares of the oil and gas development company’s stock worth $1,341,000 after acquiring an additional 2,391 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

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About Pioneer Natural Resources (NYSE:PXD)

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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