Investors sold shares of Pioneer Natural Resources (NYSE:PXD) on strength during trading on Wednesday. $71.47 million flowed into the stock on the tick-up and $101.73 million flowed out of the stock on the tick-down, for a money net flow of $30.26 million out of the stock. Of all stocks tracked, Pioneer Natural Resources had the 21st highest net out-flow for the day. Pioneer Natural Resources traded up $5.51 for the day and closed at $175.37
Several research firms have recently commented on PXD. Jefferies Group reiterated a “buy” rating and issued a $235.00 price target on shares of Pioneer Natural Resources in a research report on Monday. Piper Jaffray Companies set a $227.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Pioneer Natural Resources in a research report on Wednesday, March 7th. UBS started coverage on shares of Pioneer Natural Resources in a research report on Wednesday, March 7th. They set a “buy” rating and a $215.00 target price on the stock. Finally, BMO Capital Markets restated a “buy” rating and set a $250.00 target price on shares of Pioneer Natural Resources in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $211.33.
The stock has a market capitalization of $28,310.80, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 2.47 and a beta of 0.96. The company has a current ratio of 1.41, a quick ratio of 1.31 and a debt-to-equity ratio of 0.20.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.63. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. Pioneer Natural Resources’s revenue for the quarter was up 48.4% on a year-over-year basis. During the same quarter last year, the business earned $0.49 EPS. research analysts expect that Pioneer Natural Resources will post 6.23 earnings per share for the current year.
The business also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders 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 positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio (DPR) is 1.65%.
Pioneer Natural Resources declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas development company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Scott D. Sheffield sold 5,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $172.38, for a total value of $861,900.00. Following the transaction, the director now owns 576,066 shares of the company’s stock, valued at approximately $99,302,257.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris J. Cheatwood sold 2,201 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $167.82, for a total transaction of $369,371.82. Following the completion of the transaction, the executive vice president now directly owns 42,909 shares in the company, valued at approximately $7,200,988.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,695 shares of company stock worth $3,258,983. 0.89% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. raised its stake in shares of Pioneer Natural Resources by 2,357.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 739,763 shares of the oil and gas development company’s stock valued at $109,145,000 after acquiring an additional 709,663 shares during the period. Timber Creek Capital Management LLC purchased a new position in shares of Pioneer Natural Resources in the 4th quarter valued at $1,519,000. Schwab Charles Investment Management Inc. raised its stake in shares of Pioneer Natural Resources by 4.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 566,122 shares of the oil and gas development company’s stock valued at $83,526,000 after acquiring an additional 26,050 shares during the period. Alyeska Investment Group L.P. raised its stake in shares of Pioneer Natural Resources by 25.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 171,902 shares of the oil and gas development company’s stock valued at $25,362,000 after acquiring an additional 34,342 shares during the period. Finally, Ashburton Jersey Ltd raised its stake in shares of Pioneer Natural Resources by 87.3% in the 3rd quarter. Ashburton Jersey Ltd now owns 17,034 shares of the oil and gas development company’s stock valued at $2,513,000 after acquiring an additional 7,940 shares during the period. 89.36% 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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