Pioneer Natural Resources (NYSE:PXD) Research Coverage Started at Scotiabank

Scotiabank initiated coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a research note released on Tuesday, The Fly reports. The firm issued a sector perform rating and a $154.00 price objective on the oil and gas development company’s stock.

PXD has been the subject of a number of other research reports. Wells Fargo & Co boosted their price target on shares of Pioneer Natural Resources from $190.00 to $191.00 and gave the company an outperform rating in a research note on Friday, September 20th. TD Securities boosted their price target on shares of Pioneer Natural Resources from $140.00 to $145.00 and gave the company a hold rating in a research note on Tuesday, November 5th. KeyCorp boosted their price target on shares of Pioneer Natural Resources from $168.00 to $172.00 and gave the company an overweight rating in a research note on Tuesday, October 15th. TheStreet lowered shares of Pioneer Natural Resources from a b- rating to a c+ rating in a research note on Tuesday, July 23rd. Finally, Williams Capital restated a buy rating and set a $190.00 price target on shares of Pioneer Natural Resources in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Pioneer Natural Resources has an average rating of Buy and a consensus price target of $187.22.

PXD stock traded up $1.91 during midday trading on Tuesday, reaching $134.28. 817,421 shares of the company’s stock traded hands, compared to its average volume of 1,648,643. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 0.98 and a beta of 1.14. The firm’s fifty day moving average price is $128.75 and its 200-day moving average price is $137.24. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.17. Pioneer Natural Resources has a 52 week low of $114.79 and a 52 week high of $178.22.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Monday, November 4th. The oil and gas development company reported $1.99 EPS for the quarter, missing the Zacks’ consensus estimate of $2.02 by ($0.03). The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.32 billion. Pioneer Natural Resources had a net margin of 7.88% and a return on equity of 9.86%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.07 EPS. Analysts forecast that Pioneer Natural Resources will post 8.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Monday, December 30th. Pioneer Natural Resources’s dividend payout ratio is 13.95%.

In related news, Director J Kenneth Thompson purchased 500 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $121.01 per share, with a total value of $60,505.00. Following the acquisition, the director now owns 13,024 shares of the company’s stock, valued at $1,576,034.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris J. Cheatwood sold 5,619 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $140.35, for a total transaction of $788,626.65. Following the completion of the transaction, the executive vice president now directly owns 39,027 shares in the company, valued at $5,477,439.45. The disclosure for this sale can be found here. 0.91% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. AE Wealth Management LLC boosted its holdings in shares of Pioneer Natural Resources by 135.0% in the 3rd quarter. AE Wealth Management LLC now owns 3,072 shares of the oil and gas development company’s stock worth $386,000 after buying an additional 1,765 shares during the last quarter. BBVA USA Bancshares Inc. boosted its holdings in shares of Pioneer Natural Resources by 1.7% in the 3rd quarter. BBVA USA Bancshares Inc. now owns 5,834 shares of the oil and gas development company’s stock worth $733,000 after buying an additional 98 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Pioneer Natural Resources by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,987,197 shares of the oil and gas development company’s stock worth $375,700,000 after buying an additional 119,852 shares during the last quarter. AMG National Trust Bank purchased a new position in shares of Pioneer Natural Resources in the 3rd quarter worth about $1,184,000. Finally, Investment Management of Virginia LLC boosted its holdings in shares of Pioneer Natural Resources by 22.6% in the 3rd quarter. Investment Management of Virginia LLC now owns 5,287 shares of the oil and gas development company’s stock worth $665,000 after buying an additional 975 shares during the last quarter. 87.59% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Company Profile

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 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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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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