Pioneer Natural Resources (NYSE:PXD) – Analysts at KeyCorp dropped their Q1 2018 EPS estimates for shares of Pioneer Natural Resources in a report released on Wednesday, March 14th, Zacks Investment Research reports. KeyCorp analyst D. Deckelbaum now expects that the oil and gas development company will post earnings per share of $1.47 for the quarter, down from their prior estimate of $1.48. KeyCorp currently has a “Buy” rating and a $195.00 target price on the stock. KeyCorp also issued estimates for Pioneer Natural Resources’ Q2 2018 earnings at $1.64 EPS, Q4 2018 earnings at $1.66 EPS and FY2018 earnings at $6.41 EPS.
A number of other brokerages have also recently weighed in on PXD. Stifel Nicolaus set a $260.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Tuesday, January 30th. Morgan Stanley increased their target price on shares of Pioneer Natural Resources from $197.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Credit Suisse Group set a $218.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Cowen set a $225.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $225.00 price objective on shares of Pioneer Natural Resources in a research report on Thursday, January 11th. Two investment 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’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $212.45.
Shares of PXD stock traded down $4.30 on Friday, hitting $168.13. The stock had a trading volume of 1,617,559 shares, compared to its average volume of 1,214,242. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $192.93. The company has a current ratio of 1.41, a quick ratio of 1.31 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $28,632.71, a PE ratio of 77.84, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.63. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. The company’s revenue was up 48.4% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors purchased a new position in shares of Pioneer Natural Resources in the 4th quarter worth about $104,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Pioneer Natural Resources in the 4th quarter worth approximately $129,000. Banco de Sabadell S.A bought a new position in shares of Pioneer Natural Resources in the 4th quarter worth approximately $147,000. Steward Partners Investment Advisory LLC bought a new position in shares of Pioneer Natural Resources in the 3rd quarter worth approximately $176,000. Finally, Savant Capital LLC purchased a new stake in shares of Pioneer Natural Resources in the 4th quarter worth approximately $208,000. Institutional investors and hedge funds own 89.40% of the company’s stock.
In related news, VP Teresa A. Fairbrook sold 2,134 shares of Pioneer Natural Resources stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $180.00, for a total transaction of $384,120.00. Following the sale, the vice president now directly owns 10,284 shares in the company, valued at $1,851,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Margaret Montemayor sold 1,410 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $179.33, for a total value of $252,855.30. Following the completion of the sale, the chief accounting officer now owns 7,586 shares in the company, valued at $1,360,397.38. The disclosure for this sale can be found here. Insiders have sold 18,207 shares of company stock valued at $3,219,653 over the last 90 days. 0.89% of the stock is owned by corporate insiders.
Pioneer Natural Resources announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.16 per share. This represents a dividend yield of 0.18%. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is 14.81%.
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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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