Pioneer Natural Resources Co. (PXD) Sets New 52-Week High on Analyst Upgrade
Pioneer Natural Resources Co. (NYSE:PXD) hit a new 52-week high on Monday after Wunderlich raised their price target on the stock from $182.00 to $207.00. Wunderlich currently has a buy rating on the stock. Pioneer Natural Resources traded as high as $192.99 and last traded at $192.22, with a volume of 1,122,158 shares trading hands. The stock had previously closed at $186.39.
PXD has been the subject of several other research reports. KeyCorp lifted their target price on Pioneer Natural Resources from $190.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Credit Suisse Group AG reiterated an “outperform” rating and issued a $212.00 target price (up previously from $182.25) on shares of Pioneer Natural Resources in a research report on Wednesday, August 24th. Mizuho initiated coverage on Pioneer Natural Resources in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $196.00 target price for the company. KLR Group reiterated a “buy” rating and issued a $238.00 target price (up previously from $218.00) on shares of Pioneer Natural Resources in a research report on Sunday, July 31st. Finally, Zacks Investment Research upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research report on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $179.66.
In related news, Director Larry R. Grillot sold 500 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $164.72, for a total transaction of $82,360.00. Following the completion of the transaction, the director now owns 6,026 shares of the company’s stock, valued at approximately $992,602.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Stephen Berg sold 2,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $171.53, for a total value of $343,060.00. Following the transaction, the executive vice president now directly owns 49,266 shares of the company’s stock, valued at approximately $8,450,596.98. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Hudock Capital Group LLC boosted its position in Pioneer Natural Resources by 20.8% in the second quarter. Hudock Capital Group LLC now owns 725 shares of the oil and gas development company’s stock valued at $109,000 after buying an additional 125 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Pioneer Natural Resources during the first quarter valued at $137,000. Park Avenue Institutional Advisers LLC boosted its position in Pioneer Natural Resources by 4.3% in the first quarter. Park Avenue Institutional Advisers LLC now owns 1,017 shares of the oil and gas development company’s stock valued at $143,000 after buying an additional 42 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in Pioneer Natural Resources by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 1,028 shares of the oil and gas development company’s stock valued at $155,000 after buying an additional 22 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd boosted its position in Pioneer Natural Resources by 450.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the oil and gas development company’s stock valued at $166,000 after buying an additional 900 shares in the last quarter. 93.62% of the stock is owned by institutional investors and hedge funds.
The firm’s market capitalization is $32.77 billion. The firm has a 50-day moving average of $181.57 and a 200-day moving average of $163.85.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Wednesday, July 27th. The oil and gas development company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.12. The firm earned $786 million during the quarter, compared to analysts’ expectations of $797.28 million. Pioneer Natural Resources had a negative return on equity of 1.79% and a negative net margin of 10.75%. The company’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Equities analysts forecast that Pioneer Natural Resources Co. will post ($0.25) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date is Wednesday, September 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently -2.52%.
About Pioneer Natural Resources
Pioneer Natural Resources Company is an independent oil and gas exploration and production company with operations in the United States. The Company operates through the oil and gas development, exploration and production segment. The Company focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties.
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