Pioneer Natural Resources (NYSE:PXD) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Pioneer Natural Resources (NYSE:PXDFree Report) in a report released on Wednesday morning. The brokerage issued a hold rating on the oil and gas development company’s stock.

Several other research firms also recently issued reports on PXD. Stifel Nicolaus boosted their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a hold rating in a report on Tuesday, April 23rd. Royal Bank of Canada reissued a sector perform rating and issued a $279.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Scotiabank boosted their price objective on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a sector perform rating in a research report on Thursday, April 11th. Mizuho upped their price objective on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a neutral rating in a research note on Tuesday, March 19th. Finally, Susquehanna lifted their target price on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a neutral rating in a research note on Monday, April 22nd. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $264.10.

Read Our Latest Analysis on PXD

Pioneer Natural Resources Stock Performance

Shares of NYSE:PXD opened at $269.62 on Wednesday. The company has a 50 day moving average of $265.43 and a 200-day moving average of $242.40. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The firm has a market cap of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a twelve month low of $196.74 and a twelve month high of $278.83.

Pioneer Natural Resources (NYSE:PXDGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the company earned $5.91 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were issued a $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 annualized dividend and a yield of 3.80%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Insiders Place Their Bets

In related news, Director Phillip A. Gobe sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the completion of the transaction, the director now owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the transaction, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the completion of the sale, the director now owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock valued at $9,067,373 in the last quarter. Insiders own 0.55% of the company’s stock.

Institutional Trading of Pioneer Natural Resources

A number of hedge funds have recently modified their holdings of PXD. Allworth Financial LP lifted its position in shares of Pioneer Natural Resources by 36.0% during the third quarter. Allworth Financial LP now owns 1,259 shares of the oil and gas development company’s stock worth $289,000 after purchasing an additional 333 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Pioneer Natural Resources by 32.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 121,849 shares of the oil and gas development company’s stock worth $27,970,000 after purchasing an additional 29,853 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in Pioneer Natural Resources by 4.5% during the 3rd quarter. 180 Wealth Advisors LLC now owns 1,091 shares of the oil and gas development company’s stock worth $250,000 after buying an additional 47 shares during the period. New Mexico Educational Retirement Board lifted its stake in Pioneer Natural Resources by 5.2% in the third quarter. New Mexico Educational Retirement Board now owns 12,117 shares of the oil and gas development company’s stock valued at $2,781,000 after buying an additional 600 shares in the last quarter. Finally, Tower Bridge Advisors lifted its stake in Pioneer Natural Resources by 1.7% in the third quarter. Tower Bridge Advisors now owns 37,848 shares of the oil and gas development company’s stock valued at $8,688,000 after buying an additional 630 shares in the last quarter. Institutional investors own 80.57% of the company’s stock.

About Pioneer Natural Resources

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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.

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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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