Pioneer Natural Resources (NYSE:PXD) Price Target Raised to $230.00 at Truist Securities

Pioneer Natural Resources (NYSE:PXD) had its target price hoisted by Truist Securities from $214.00 to $230.00 in a report issued on Friday morning, Stock Target Advisor reports. Truist Securities also issued estimates for Pioneer Natural Resources’ FY2021 earnings at $13.46 EPS and Q1 2022 earnings at $6.16 EPS.

Several other brokerages have also weighed in on PXD. Truist increased their price objective on Pioneer Natural Resources from $214.00 to $230.00 in a research report on Friday. Wells Fargo & Company increased their price objective on Pioneer Natural Resources from $208.00 to $233.00 and gave the stock an overweight rating in a research report on Friday, November 19th. Citigroup increased their price objective on Pioneer Natural Resources from $216.00 to $218.00 in a research report on Monday, January 3rd. TD Securities increased their price objective on Pioneer Natural Resources from $210.00 to $215.00 and gave the stock a buy rating in a research report on Thursday, November 4th. Finally, TheStreet upgraded Pioneer Natural Resources from a c+ rating to a b rating in a research report on Friday, October 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Pioneer Natural Resources presently has an average rating of Buy and a consensus target price of $211.00.

NYSE:PXD opened at $215.70 on Friday. Pioneer Natural Resources has a one year low of $115.14 and a one year high of $216.04. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.63. The stock has a market cap of $52.66 billion, a PE ratio of 38.94, a P/E/G ratio of 1.19 and a beta of 1.81. The stock has a 50 day moving average price of $185.04 and a 200 day moving average price of $169.93.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Wednesday, November 3rd. The oil and gas development company reported $4.13 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.26. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.50 billion. Pioneer Natural Resources had a return on equity of 11.98% and a net margin of 11.48%. During the same period in the prior year, the business posted $0.17 earnings per share. As a group, analysts predict that Pioneer Natural Resources will post 13.36 earnings per share for the current fiscal year.

The firm also recently declared a None dividend, which was paid on Tuesday, December 14th. Shareholders of record on Tuesday, November 30th were paid a $3.02 dividend. The ex-dividend date was Monday, November 29th. Pioneer Natural Resources’s dividend payout ratio is presently 44.77%.

In other Pioneer Natural Resources news, Director Larry R. Grillot sold 900 shares of the firm’s stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $184.39, for a total value of $165,951.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Chris J. Cheatwood sold 8,235 shares of the firm’s stock in a transaction on Monday, December 6th. The shares were sold at an average price of $180.86, for a total value of $1,489,382.10. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Nova Scotia increased its position in shares of Pioneer Natural Resources by 447.7% during the second quarter. Bank of Nova Scotia now owns 384,629 shares of the oil and gas development company’s stock worth $62,510,000 after purchasing an additional 314,406 shares in the last quarter. Stifel Financial Corp increased its position in shares of Pioneer Natural Resources by 98.9% during the second quarter. Stifel Financial Corp now owns 130,212 shares of the oil and gas development company’s stock worth $21,161,000 after purchasing an additional 64,761 shares in the last quarter. Comerica Bank increased its position in shares of Pioneer Natural Resources by 6.2% during the second quarter. Comerica Bank now owns 44,363 shares of the oil and gas development company’s stock worth $6,231,000 after purchasing an additional 2,573 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Pioneer Natural Resources by 3,311.8% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,977,308 shares of the oil and gas development company’s stock worth $321,353,000 after purchasing an additional 1,919,353 shares in the last quarter. Finally, Icon Advisers Inc. Co. acquired a new stake in shares of Pioneer Natural Resources during the third quarter worth about $2,498,000. Institutional investors and hedge funds own 84.93% of the company’s stock.

About Pioneer Natural Resources

Pioneer Natural Resources Co Operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses in the operation of Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997 and is headquartered in Irving, TX.

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