Pioneer Natural Resources (NYSE:PXD) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a report published on Wednesday. The firm issued a hold rating on the oil and gas development company’s stock.

Several other equities research analysts have also recently issued reports on the company. Scotiabank lifted their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a sector perform rating in a report on Thursday, April 11th. Mizuho upped their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. Susquehanna increased their target price on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a neutral rating in a research report on Monday, April 22nd. Truist Financial boosted their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a hold rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $264.10.

Pioneer Natural Resources Stock Performance

NYSE PXD opened at $269.62 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a twelve month low of $196.74 and a twelve month high of $278.83. The business has a 50-day moving average price of $265.43 and a 200-day moving average price of $242.40. The firm has a market cap of $63.00 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 21.21% and a net margin of 24.28%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.91 earnings per share. As a group, equities research analysts predict that Pioneer Natural Resources will post 22.07 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were issued a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.80%. Pioneer Natural Resources’s payout ratio is 24.70%.

Insiders Place Their Bets

In other news, EVP Mark H. Kleinman sold 3,500 shares of the 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 approximately $11,683,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $11,683,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the transaction, the director now directly owns 462,112 shares in the company, valued at $108,711,848. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock worth $9,067,373 in the last ninety days. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pioneer Natural Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Pioneer Natural Resources by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 21,504,556 shares of the oil and gas development company’s stock worth $5,644,946,000 after acquiring an additional 1,247,871 shares in the last quarter. Westchester Capital Management LLC acquired a new stake in shares of Pioneer Natural Resources in the 4th quarter worth $258,634,000. Balyasny Asset Management L.P. grew its stake in Pioneer Natural Resources by 165.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,680,744 shares of the oil and gas development company’s stock worth $377,966,000 after buying an additional 1,047,414 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Pioneer Natural Resources during the 3rd quarter valued at about $134,558,000. Finally, Assenagon Asset Management S.A. raised its stake in Pioneer Natural Resources by 610.6% in the third quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock valued at $141,965,000 after buying an additional 531,418 shares during the last quarter. Institutional investors own 80.57% of the company’s stock.

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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.