Pioneer Natural Resources (NYSE:PXD) has earned a consensus rating of “Buy” from the thirty-three analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $214.00.
Several research firms recently issued reports on PXD. Piper Jaffray Companies set a $227.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Wednesday. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of Pioneer Natural Resources in a report on Wednesday, March 7th. UBS began coverage on shares of Pioneer Natural Resources in a report on Wednesday, March 7th. They issued a “buy” rating and a $215.00 price target on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $250.00 price target on shares of Pioneer Natural Resources in a report on Tuesday, February 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $280.00 price target (up from $260.00) on shares of Pioneer Natural Resources in a report on Wednesday, February 14th.
Pioneer Natural Resources (NYSE:PXD) traded up $2.77 on Friday, reaching $169.34. 1,271,144 shares of the company traded hands, compared to its average volume of 1,272,869. The firm has a market capitalization of $28,838.77, a PE ratio of 34.92, a PEG ratio of 2.52 and a beta of 0.96. The company has a quick ratio of 1.31, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a 1 year low of $125.46 and a 1 year high of $192.93.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results 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 firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The firm’s quarterly revenue was up 48.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. sell-side analysts predict that Pioneer Natural Resources will post 6.23 earnings per share for the current year.
Pioneer Natural Resources announced that its board has authorized a share buyback program on Tuesday, February 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas development company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a $0.16 dividend. This represents a dividend yield of 0.18%. The ex-dividend date is Wednesday, March 28th. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio (DPR) is 1.65%.
In related news, CFO Richard P. Dealy sold 5,523 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $164.23, for a total value of $907,042.29. Following the sale, the chief financial officer now owns 76,297 shares of the company’s stock, valued at approximately $12,530,256.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott D. Sheffield sold 5,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $172.38, for a total transaction of $861,900.00. Following the completion of the sale, the director now directly owns 576,066 shares in the company, valued at approximately $99,302,257.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,218 shares of company stock worth $4,486,025. Corporate insiders own 0.89% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors acquired a new stake in shares of Pioneer Natural Resources in the 4th quarter worth about $104,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Pioneer Natural Resources in the 4th quarter worth about $129,000. Banco de Sabadell S.A acquired a new stake in shares of Pioneer Natural Resources in the 4th quarter worth about $147,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Pioneer Natural Resources in the 3rd quarter worth about $176,000. Finally, Savant Capital LLC acquired a new stake in shares of Pioneer Natural Resources in the 4th quarter worth about $208,000. 89.44% of the stock is currently owned by institutional investors and hedge funds.
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About Pioneer Natural Resources
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.
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