Pioneer Natural Resources (NYSE:PXD) Earns Buy Rating from Royal Bank of Canada

Royal Bank of Canada restated their buy rating on shares of Pioneer Natural Resources (NYSE:PXD) in a research report report published on Sunday morning, AnalystRatings.com reports. The firm currently has a $190.00 target price on the oil and gas development company’s stock.

Several other research analysts also recently issued reports on PXD. ValuEngine downgraded shares of Pioneer Natural Resources from a hold rating to a sell rating in a research note on Wednesday, May 1st. Seaport Global Securities restated a buy rating on shares of Pioneer Natural Resources in a research report on Friday, June 21st. Morgan Stanley lowered their price objective on shares of Pioneer Natural Resources from $184.00 to $180.00 and set an overweight rating on the stock in a research report on Friday, July 12th. Imperial Capital lowered their price objective on shares of Pioneer Natural Resources from $200.00 to $185.00 and set an outperform rating on the stock in a research report on Wednesday, May 8th. Finally, Macquarie upgraded shares of Pioneer Natural Resources from a neutral rating to an outperform rating and set a $168.32 price objective on the stock in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $196.18.

Shares of NYSE PXD opened at $128.36 on Friday. The business has a 50 day moving average price of $138.60. The company has a market capitalization of $21.25 billion, a P/E ratio of 20.34, a PEG ratio of 0.70 and a beta of 1.08. Pioneer Natural Resources has a 52-week low of $114.79 and a 52-week high of $189.78. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.17.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.13. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.32 billion. Pioneer Natural Resources had a net margin of 9.65% and a return on equity of 10.04%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. As a group, equities research analysts forecast that Pioneer Natural Resources will post 8.37 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.44 per share. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.16. This represents a $1.76 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, September 26th. Pioneer Natural Resources’s dividend payout ratio is currently 10.14%.

A number of hedge funds have recently made changes to their positions in PXD. Dimensional Fund Advisors LP increased its position in shares of Pioneer Natural Resources by 24.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,119,088 shares of the oil and gas development company’s stock valued at $147,184,000 after acquiring an additional 217,216 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Pioneer Natural Resources by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 1,972,086 shares of the oil and gas development company’s stock valued at $258,857,000 after acquiring an additional 113,932 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Pioneer Natural Resources in the first quarter valued at about $2,169,000. First Citizens Bank & Trust Co. increased its position in shares of Pioneer Natural Resources by 7.9% in the first quarter. First Citizens Bank & Trust Co. now owns 6,507 shares of the oil and gas development company’s stock valued at $991,000 after acquiring an additional 478 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Pioneer Natural Resources by 53.9% in the first quarter. Raymond James Trust N.A. now owns 3,280 shares of the oil and gas development company’s stock valued at $499,000 after acquiring an additional 1,149 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

About Pioneer Natural Resources

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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