Pioneer Natural Resources (NYSE:PXD) saw a significant decline in short interest in April. As of April 15th, there was short interest totalling 6,850,000 shares, a decline of 21.4% from the March 31st total of 8,710,000 shares. Based on an average daily volume of 2,500,000 shares, the days-to-cover ratio is currently 2.7 days.
Several brokerages have recently commented on PXD. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $177.00 target price on shares of Pioneer Natural Resources in a report on Tuesday, April 13th. Cowen boosted their price objective on shares of Pioneer Natural Resources from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, April 5th. Credit Suisse Group boosted their price objective on shares of Pioneer Natural Resources from $172.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, April 5th. KeyCorp boosted their price objective on shares of Pioneer Natural Resources from $168.00 to $178.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 23rd. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $143.00 price objective on shares of Pioneer Natural Resources in a research report on Monday, March 8th. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $172.03.
In other news, EVP Jerome D. Hall, Jr. sold 3,600 shares of the business’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $163.08, for a total value of $587,088.00. Following the transaction, the executive vice president now directly owns 53,333 shares of the company’s stock, valued at approximately $8,697,545.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott D. Sheffield sold 29,882 shares of the business’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $162.73, for a total value of $4,862,697.86. Following the completion of the transaction, the chief executive officer now directly owns 456,949 shares in the company, valued at $74,359,310.77. The disclosure for this sale can be found here. Insiders have sold 52,338 shares of company stock worth $8,536,408 over the last ninety days. Company insiders own 0.91% of the company’s stock.
Shares of Pioneer Natural Resources stock traded down $0.21 during trading hours on Tuesday, reaching $158.45. 1,780,115 shares of the company’s stock were exchanged, compared to its average volume of 2,616,448. The company has a 50 day moving average of $155.54 and a two-hundred day moving average of $126.78. Pioneer Natural Resources has a fifty-two week low of $76.48 and a fifty-two week high of $169.49. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.27. The stock has a market cap of $34.32 billion, a P/E ratio of 155.34, a P/E/G ratio of 2.72 and a beta of 1.92.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Tuesday, May 4th. The oil and gas development company reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.35. Pioneer Natural Resources had a net margin of 2.30% and a return on equity of 4.67%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the business posted $1.15 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, analysts expect that Pioneer Natural Resources will post 1.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 30th. Pioneer Natural Resources’s dividend payout ratio is currently 27.38%.
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 in the Permian Basin in West Texas. As of December 31, 2020, the company had proved undeveloped reserves and proved developed non-producing reserves of 31 million barrels of oil, 17 million barrels of NGLs, and 88 billion cubic feet of gas; and owned interests in 11 gas processing plants.
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