Stifel Nicolaus reaffirmed their buy rating on shares of Pioneer Natural Resources (NYSE:PXD) in a report published on Wednesday morning, MarketBeat reports. The brokerage currently has a $280.00 price objective on the oil and gas development company’s stock, up from their previous price objective of $260.00.
PXD has been the topic of several other research reports. Cowen set a $225.00 price target on shares of Pioneer Natural Resources and gave the stock a buy rating in a research report on Thursday, January 18th. SunTrust Banks cut shares of Pioneer Natural Resources from a buy rating to a hold rating and set a $180.00 price target on the stock. in a research report on Tuesday, February 6th. Piper Jaffray Companies set a $226.00 price target on shares of Pioneer Natural Resources and gave the stock a buy rating in a research report on Friday, February 9th. B. Riley assumed coverage on shares of Pioneer Natural Resources in a research report on Monday, February 5th. They set a buy rating and a $305.00 price target on the stock. Finally, TheStreet raised shares of Pioneer Natural Resources from a c rating to a b rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Pioneer Natural Resources presently has an average rating of Buy and a consensus price target of $210.30.
Shares of Pioneer Natural Resources (NYSE PXD) opened at $178.79 on Wednesday. The stock has a market cap of $30,559.98, a PE ratio of 36.86, a PEG ratio of 2.92 and a beta of 0.92. Pioneer Natural Resources has a 1 year low of $125.46 and a 1 year high of $198.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.41.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. research analysts expect that Pioneer Natural Resources will post 5.69 EPS for the current fiscal year.
The business also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be paid a $0.16 dividend. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. This represents a yield of 0.18%. The ex-dividend date is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio is currently 1.65%.
Pioneer Natural Resources declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
In other Pioneer Natural Resources news, SVP Mark H. Kleinman sold 2,582 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $158.37, for a total value of $408,911.34. Following the transaction, the senior vice president now directly owns 12,861 shares in the company, valued at $2,036,796.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Stephen Berg sold 2,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $154.47, for a total transaction of $308,940.00. Following the completion of the transaction, the executive vice president now owns 48,719 shares in the company, valued at $7,525,623.93. The disclosure for this sale can be found here. Insiders sold 27,306 shares of company stock worth $4,506,785 over the last quarter. 0.89% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new position in shares of Pioneer Natural Resources during the fourth quarter worth approximately $104,000. Banco de Sabadell S.A purchased a new position in shares of Pioneer Natural Resources during the fourth quarter worth approximately $147,000. WFG Advisors LP grew its position in shares of Pioneer Natural Resources by 10.2% during the second quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock worth $176,000 after acquiring an additional 102 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Pioneer Natural Resources during the third quarter worth approximately $176,000. Finally, Shelton Capital Management purchased a new position in shares of Pioneer Natural Resources during the second quarter worth approximately $205,000. Institutional investors and hedge funds own 90.58% of the company’s stock.
Pioneer Natural Resources Company Profile
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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