Pioneer Natural Resources Company (PXD) To Go Ex-Dividend on September 28th
Pioneer Natural Resources Company (NYSE:PXD) announced a quarterly dividend on Thursday, August 24th, RTT News reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.04 per share by the oil and gas development company on Thursday, October 12th. This represents a $0.16 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Thursday, September 28th.
Pioneer Natural Resources has a payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pioneer Natural Resources to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 3.3%.
Shares of Pioneer Natural Resources (NYSE:PXD) opened at 144.01 on Friday. The stock has a market cap of $24.50 billion, a price-to-earnings ratio of 145.32 and a beta of 0.94. The firm has a 50-day moving average price of $133.40 and a 200-day moving average price of $162.00. Pioneer Natural Resources has a 1-year low of $125.46 and a 1-year high of $199.83.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.10. Pioneer Natural Resources had a return on equity of 1.79% and a net margin of 3.10%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted ($0.22) EPS. The company’s quarterly revenue was up 107.4% on a year-over-year basis. Equities analysts forecast that Pioneer Natural Resources will post $1.12 EPS for the current year.
Several equities analysts have recently commented on the company. Piper Jaffray Companies decreased their price target on Pioneer Natural Resources from $229.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Cowen and Company reiterated a “buy” rating and issued a $210.00 price objective on shares of Pioneer Natural Resources in a report on Sunday, September 17th. Jefferies Group LLC set a $171.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a report on Tuesday, August 29th. Imperial Capital started coverage on Pioneer Natural Resources in a report on Tuesday, August 22nd. They issued an “outperform” rating and a $160.00 price objective on the stock. Finally, Zacks Investment Research upgraded Pioneer Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $201.35.
In related news, VP Teresa A. Fairbrook sold 880 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $130.49, for a total value of $114,831.20. Following the completion of the transaction, the vice president now directly owns 7,648 shares of the company’s stock, valued at approximately $997,987.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew F. Cates acquired 350 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $135.37 per share, with a total value of $47,379.50. Following the completion of the purchase, the director now directly owns 14,556 shares in the company, valued at $1,970,445.72. The disclosure for this purchase can be found here. Insiders purchased a total of 1,200 shares of company stock valued at $161,102 over the last ninety days. 0.89% of the stock is currently owned by company insiders.
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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