Analysts Set Pioneer Natural Resources (PXD) Price Target at $213.96
Shares of Pioneer Natural Resources (NYSE:PXD) have received a consensus rating of “Buy” from the thirty-three research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $213.96.
A number of analysts have commented on PXD shares. Seaport Global Securities raised shares of Pioneer Natural Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Jefferies Group set a $192.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $176.00 price objective on the stock in a report on Friday, December 15th. Mizuho set a $202.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Tuesday, January 16th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $207.00 price objective on shares of Pioneer Natural Resources in a report on Tuesday, January 9th.
In other Pioneer Natural Resources news, SVP Mark H. Kleinman sold 1,150 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $180.17, for a total value of $207,195.50. Following the completion of the sale, the senior vice president now owns 13,327 shares in the company, valued at approximately $2,401,125.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Richard P. Dealy sold 5,523 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $164.23, for a total transaction of $907,042.29. Following the completion of the sale, the chief financial officer now owns 76,297 shares of the company’s stock, valued at approximately $12,530,256.31. The disclosure for this sale can be found here. Insiders sold a total of 28,218 shares of company stock worth $4,801,725 in the last 90 days. 0.89% of the stock is currently owned by company insiders.
Shares of Pioneer Natural Resources (PXD) traded down $0.35 on Friday, reaching $169.21. 160,918 shares of the company’s stock were exchanged, compared to its average volume of 1,676,371. The company has a quick ratio of 1.31, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $29,153.79, a PE ratio of 34.96, a P/E/G ratio of 2.57 and a beta of 0.96. Pioneer Natural Resources has a twelve month low of $125.46 and a twelve month high of $192.93.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.63. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The business’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. research analysts forecast that Pioneer Natural Resources will post 6.16 EPS for the current fiscal year.
Pioneer Natural Resources announced that its board has authorized a share buyback program on Tuesday, February 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a $0.16 dividend. This represents a dividend yield of 0.18%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio is currently 1.65%.
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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