Pioneer Natural Resources (NYSE:PXD) shares were up 8.9% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $162.31 and last traded at $161.71. Approximately 3,623,501 shares changed hands during mid-day trading, an increase of 134% from the average daily volume of 1,546,334 shares. The stock had previously closed at $148.52.
The oil and gas development company reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.38. Pioneer Natural Resources had a return on equity of 7.29% and a net margin of 12.23%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue was up 112.2% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.40%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.04. The ex-dividend date was Thursday, September 27th. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 14.81%.
A number of analysts have recently issued reports on PXD shares. Morgan Stanley started coverage on Pioneer Natural Resources in a research report on Thursday, July 12th. They issued an “overweight” rating and a $240.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Pioneer Natural Resources in a research report on Friday, July 13th. Jefferies Financial Group set a $244.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a research report on Monday, July 23rd. Finally, Mizuho assumed coverage on Pioneer Natural Resources in a report on Monday, July 23rd. They set a “buy” rating and a $259.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $235.96.
Institutional investors have recently bought and sold shares of the business. Kiley Juergens Wealth Management LLC increased its stake in Pioneer Natural Resources by 159.5% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 768 shares of the oil and gas development company’s stock worth $133,000 after acquiring an additional 472 shares during the period. Bradley Foster & Sargent Inc. CT bought a new position in Pioneer Natural Resources during the 2nd quarter worth $207,000. Welch & Forbes LLC bought a new position in Pioneer Natural Resources during the 2nd quarter worth $218,000. Jaffetilchin Investment Partners LLC bought a new position in Pioneer Natural Resources during the 2nd quarter worth $227,000. Finally, Fox Run Management L.L.C. bought a new position in Pioneer Natural Resources during the 3rd quarter worth $227,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.
The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $25.03 billion, a P/E ratio of 74.87, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04.
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About Pioneer Natural Resources (NYSE:PXD)
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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