Pioneer Natural Resources (NYSE:PXD) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a research note published on Sunday. The brokerage issued a hold rating on the oil and gas development company’s stock.

Several other brokerages have also issued reports on PXD. Stifel Nicolaus dropped their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a hold rating on the stock in a research note on Tuesday, January 23rd. Scotiabank increased their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a sector perform rating in a report on Thursday, April 11th. Mizuho increased their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. Royal Bank of Canada reiterated a sector perform rating and issued a $279.00 target price on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Finally, Truist Financial increased their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a hold rating in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Pioneer Natural Resources currently has an average rating of Hold and a consensus price target of $264.10.

Pioneer Natural Resources Price Performance

Pioneer Natural Resources stock opened at $275.52 on Friday. The stock’s 50 day moving average is $253.53 and its 200 day moving average is $239.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72. The firm has a market cap of $64.37 billion, a P/E ratio of 13.61 and a beta of 1.31. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. Pioneer Natural Resources’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.91 earnings per share. As a group, research analysts expect that Pioneer Natural Resources will post 21.66 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were given a dividend of $2.56 per share. This represents a $10.24 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

Insider Buying and Selling

In related news, Director J Kenneth Thompson sold 1,000 shares of Pioneer Natural Resources stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the sale, the director now owns 16,070 shares of the company’s stock, valued at approximately $4,017,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the completion of the transaction, the chief accounting officer now owns 4,990 shares in the company, valued at approximately $1,302,140.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J Kenneth Thompson sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the director now owns 16,070 shares of the company’s stock, valued at approximately $4,017,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,766 shares of company stock valued at $9,067,373. 0.55% of the stock is owned by insiders.

Institutional Trading of Pioneer Natural Resources

A number of large investors have recently modified their holdings of the business. Westchester Capital Management LLC bought a new stake in Pioneer Natural Resources in the 4th quarter worth approximately $258,634,000. Balyasny Asset Management L.P. lifted its position in Pioneer Natural Resources by 165.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,680,744 shares of the oil and gas development company’s stock worth $377,966,000 after buying an additional 1,047,414 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Pioneer Natural Resources by 25.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after buying an additional 662,891 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Pioneer Natural Resources in the 3rd quarter worth approximately $134,558,000. Finally, Assenagon Asset Management S.A. lifted its position in Pioneer Natural Resources by 610.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock worth $141,965,000 after buying an additional 531,418 shares during the last quarter. Institutional investors own 80.57% of the company’s stock.

About Pioneer Natural Resources

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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.