Goldman Sachs upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a buy rating to a conviction-buy rating in a research report released on Thursday morning.
Other analysts have also recently issued reports about the company. TheStreet raised Pioneer Natural Resources from a c rating to a b rating in a research report on Tuesday, February 6th. Zacks Investment Research raised Pioneer Natural Resources from a hold rating to a buy rating and set a $176.00 target price for the company in a research report on Friday, December 15th. Mizuho set a $202.00 target price on Pioneer Natural Resources and gave the company a buy rating in a research report on Tuesday, January 16th. BMO Capital Markets reissued a buy rating and issued a $225.00 target price on shares of Pioneer Natural Resources in a research report on Thursday, January 11th. Finally, Piper Jaffray reissued a buy rating and issued a $207.00 target price on shares of Pioneer Natural Resources in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Pioneer Natural Resources presently has a consensus rating of Buy and a consensus price target of $213.76.
PXD opened at $188.32 on Thursday. Pioneer Natural Resources has a one year low of $125.46 and a one year high of $189.95. The stock has a market capitalization of $31,098.63, a PE ratio of 87.19, a price-to-earnings-growth ratio of 2.22 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 released its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.63. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.39 billion. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The business’s revenue for the quarter was up 48.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. research analysts expect that Pioneer Natural Resources will post 6.47 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which was paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th were paid 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 was Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio is 14.81%.
Pioneer Natural Resources declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
In other news, Director Scott D. Sheffield sold 2,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $170.93, for a total transaction of $341,860.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Teresa A. Fairbrook sold 2,134 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $180.00, for a total value of $384,120.00. Following the transaction, the vice president now directly owns 10,284 shares of the company’s stock, valued at $1,851,120. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,207 shares of company stock valued at $3,219,653. Company insiders own 0.89% of the company’s stock.
Several hedge funds have recently modified their holdings of PXD. BlackRock Inc. raised its stake in shares of Pioneer Natural Resources by 11.4% during the 4th quarter. BlackRock Inc. now owns 13,552,443 shares of the oil and gas development company’s stock worth $2,342,540,000 after buying an additional 1,389,479 shares in the last quarter. Boston Partners raised its stake in shares of Pioneer Natural Resources by 51.2% during the 4th quarter. Boston Partners now owns 2,262,356 shares of the oil and gas development company’s stock worth $391,048,000 after buying an additional 766,124 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Pioneer Natural Resources by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,683,875 shares of the oil and gas development company’s stock worth $463,908,000 after buying an additional 329,971 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Pioneer Natural Resources by 151.4% during the 4th quarter. Bank of Montreal Can now owns 363,814 shares of the oil and gas development company’s stock worth $62,886,000 after buying an additional 219,126 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Pioneer Natural Resources during the 4th quarter worth approximately $34,587,000. 89.41% of the stock is owned by institutional investors and hedge funds.
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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 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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