Pioneer Natural Resources (NYSE:PXD) declared a quarterly dividend on Tuesday, February 28th. Investors of record on Friday, March 31st will be paid a dividend of 0.04 per share by the oil and gas development company on Wednesday, April 12th. This represents a $0.16 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Wednesday, March 29th.
Pioneer Natural Resources has a dividend payout ratio of 4.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pioneer Natural Resources to earn $4.59 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 1.7%.
Pioneer Natural Resources (NYSE:PXD) traded down 0.09% during mid-day trading on Thursday, reaching $174.90. The company’s stock had a trading volume of 1,418,770 shares. The stock’s market cap is $29.70 billion. The firm’s 50 day moving average is $185.81 and its 200-day moving average is $184.48. Pioneer Natural Resources has a one year low of $146.08 and a one year high of $199.83.
Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, February 7th. The oil and gas development company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.16. Pioneer Natural Resources had a negative net margin of 14.56% and a negative return on equity of 0.33%. The business earned $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted ($0.18) EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts expect that Pioneer Natural Resources will post $1.89 earnings per share for the current fiscal year.
In related news, SVP Mark H. Kleinman sold 1,758 shares of Pioneer Natural Resources stock in a transaction on Tuesday, February 28th. The shares were 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 owns 17,201 shares in the company, valued at $3,203,514.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy L. Dove sold 1,200 shares of Pioneer Natural Resources stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $193.21, for a total transaction of $231,852.00. Following the completion of the sale, the chief executive officer now owns 255,498 shares of the company’s stock, valued at approximately $49,364,768.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,358 shares of company stock valued at $1,614,482. Insiders own 0.92% of the company’s stock.
PXD has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Pioneer Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 11th. Scotiabank set a $225.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Seaport Global Securities cut shares of Pioneer Natural Resources from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $225.00 to $215.00 in a research note on Friday, March 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $267.00 price target on shares of Pioneer Natural Resources in a report on Wednesday, April 12th. Finally, Williams Capital downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating and cut their price target for the company from $226.00 to $206.00 in a report on Tuesday, January 24th. Four investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. Pioneer Natural Resources currently has an average rating of “Buy” and an average target price of $207.51.
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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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