SunTrust Banks upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a hold rating to a buy rating in a report published on Monday, MarketBeat reports. SunTrust Banks currently has $235.00 price target on the oil and gas development company’s stock. SunTrust Banks also issued estimates for Pioneer Natural Resources’ Q1 2018 earnings at $1.46 EPS, Q2 2018 earnings at $1.57 EPS, Q3 2018 earnings at $1.64 EPS, Q4 2018 earnings at $1.76 EPS, FY2018 earnings at $6.43 EPS, FY2019 earnings at $8.81 EPS and FY2020 earnings at $11.38 EPS.
A number of other analysts have also commented on PXD. BMO Capital Markets reaffirmed a buy rating and issued a $260.00 price target on shares of Pioneer Natural Resources in a research note on Wednesday, April 11th. Royal Bank of Canada set a $225.00 price target on Pioneer Natural Resources and gave the stock a buy rating in a research note on Friday, April 13th. TheStreet raised Pioneer Natural Resources from a c rating to a b rating in a research note on Tuesday, February 6th. Piper Jaffray set a $227.00 price target on Pioneer Natural Resources and gave the stock a buy rating in a research note on Wednesday, March 14th. Finally, Zacks Investment Research lowered Pioneer Natural Resources from a buy rating to a hold rating in a research note on Wednesday, April 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $215.95.
Shares of PXD stock opened at $195.47 on Monday. Pioneer Natural Resources has a 52 week low of $125.46 and a 52 week high of $196.48. The firm has a market capitalization of $32,898.71, a P/E ratio of 90.50, a price-to-earnings-growth ratio of 2.32 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 (NYSE:PXD) last announced its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.63. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The firm’s revenue was up 48.4% on a year-over-year basis. sell-side analysts anticipate that Pioneer Natural Resources will post 6.55 EPS for the current fiscal year.
The business also recently declared a semiannual dividend, which was paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th were given a $0.16 dividend. This represents a dividend yield of 0.18%. The ex-dividend date of this dividend was Wednesday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s payout ratio is currently 14.81%.
Pioneer Natural Resources declared that its board has initiated a stock repurchase program on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes 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 board of directors believes its shares are undervalued.
In other news, CAO Margaret Montemayor sold 1,410 shares of Pioneer Natural Resources stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $179.33, for a total value of $252,855.30. Following the completion of the transaction, the chief accounting officer now owns 7,586 shares of the company’s stock, valued at approximately $1,360,397.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Chris J. Cheatwood sold 9,513 shares of Pioneer Natural Resources stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $175.93, for a total value of $1,673,622.09. Following the completion of the transaction, the executive vice president now directly owns 42,931 shares of the company’s stock, valued at approximately $7,552,850.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,207 shares of company stock valued at $3,219,653. 0.92% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Timber Creek Capital Management LLC purchased a new position in shares of Pioneer Natural Resources in the 4th quarter worth about $1,519,000. Virtu Financial LLC bought a new stake in Pioneer Natural Resources in the 4th quarter worth about $256,000. Martin Currie Ltd. increased its holdings in Pioneer Natural Resources by 28.2% in the 4th quarter. Martin Currie Ltd. now owns 60,086 shares of the oil and gas development company’s stock worth $10,386,000 after buying an additional 13,220 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in Pioneer Natural Resources in the 4th quarter worth about $25,236,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in Pioneer Natural Resources in the 4th quarter worth about $129,000. 89.40% of the stock is owned by hedge funds and other institutional investors.
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Pioneer Natural Resources Company Profile
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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