Pioneer Natural Resources (NYSE:PXD) was upgraded by equities research analysts at Mizuho from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday.
A number of other equities analysts have also recently commented on the company. Scotiabank reaffirmed a “buy” rating and issued a $250.00 price target on shares of Pioneer Natural Resources in a research note on Thursday, March 16th. Mitsubishi UFJ Financial Group raised Pioneer Natural Resources from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $212.00 to $250.00 in a research note on Tuesday, February 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $245.00 price target (up from $224.00) on shares of Pioneer Natural Resources in a research note on Monday, February 13th. KLR Group reaffirmed a “buy” rating and issued a $273.00 price target (up from $254.00) on shares of Pioneer Natural Resources in a research note on Thursday, February 9th. Finally, Societe Generale raised Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, February 8th. Three investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. Pioneer Natural Resources currently has an average rating of “Buy” and an average target price of $199.23.
Pioneer Natural Resources (NYSE:PXD) opened at 183.99 on Tuesday. The stock’s 50 day moving average price is $187.30 and its 200-day moving average price is $183.76. The firm’s market capitalization is $31.24 billion. Pioneer Natural Resources has a 12 month low of $131.36 and a 12 month high of $199.83.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, February 7th. The oil and gas development company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.16. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Pioneer Natural Resources had a negative return on equity of 0.33% and a negative net margin of 14.56%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. Equities analysts anticipate that Pioneer Natural Resources will post $1.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 12th. Shareholders of record on Friday, March 31st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.09%. The ex-dividend date is Wednesday, March 29th. Pioneer Natural Resources’s dividend payout ratio (DPR) is -2.35%.
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In other Pioneer Natural Resources news, EVP Mark Stephen Berg sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the executive vice president now directly owns 52,719 shares of the company’s stock, valued at $10,239,084.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark H. Kleinman sold 1,758 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $186.24, for a total value of $327,409.92. Following the completion of the sale, the senior vice president now directly owns 17,201 shares in the company, valued at $3,203,514.24. The disclosure for this sale can be found here. Insiders sold 8,358 shares of company stock worth $1,614,482 over the last three months. Corporate insiders own 0.92% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PXD. Capital Research Global Investors increased its stake in Pioneer Natural Resources by 41.6% in the third quarter. Capital Research Global Investors now owns 7,367,002 shares of the oil and gas development company’s stock valued at $1,367,684,000 after buying an additional 2,165,002 shares during the period. Carmignac Gestion bought a new stake in Pioneer Natural Resources during the third quarter valued at approximately $240,559,000. Norges Bank bought a new stake in Pioneer Natural Resources during the fourth quarter valued at approximately $231,658,000. Artisan Partners Limited Partnership bought a new stake in Pioneer Natural Resources during the fourth quarter valued at approximately $202,439,000. Finally, State Street Corp increased its stake in Pioneer Natural Resources by 6.4% in the fourth quarter. State Street Corp now owns 11,104,321 shares of the oil and gas development company’s stock valued at $1,999,544,000 after buying an additional 664,476 shares during the period. 93.86% of the stock is currently owned by institutional investors and hedge funds.
About Pioneer Natural Resources
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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