Piper Jaffray Companies set a $227.00 price objective on Pioneer Natural Resources (NYSE:PXD) in a research note released on Wednesday. The firm currently has a buy rating on the oil and gas development company’s stock.
Several other equities research analysts have also recently weighed in on the company. Mitsubishi UFJ Financial Group restated an overweight rating on shares of Pioneer Natural Resources in a research note on Wednesday, March 7th. UBS began coverage on Pioneer Natural Resources in a research note on Wednesday, March 7th. They set a buy rating and a $215.00 target price for the company. BMO Capital Markets restated a buy rating and set a $250.00 target price on shares of Pioneer Natural Resources in a research note on Tuesday, February 27th. Stifel Nicolaus restated a buy rating and set a $280.00 target price (up from $260.00) on shares of Pioneer Natural Resources in a research note on Wednesday, February 14th. Finally, Citigroup upped their target price on Pioneer Natural Resources from $215.00 to $250.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-six have assigned a buy rating to the stock. Pioneer Natural Resources presently has an average rating of Buy and an average target price of $211.44.
Shares of Pioneer Natural Resources (NYSE:PXD) opened at $169.34 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.31. The stock has a market capitalization of $28,367.01, a P/E ratio of 77.12, a P/E/G ratio of 2.47 and a beta of 0.96. Pioneer Natural Resources has a 12 month low of $125.46 and a 12 month high of $192.93.
The business also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a $0.16 dividend. This represents a yield of 0.18%. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio is presently 1.65%.
Pioneer Natural Resources announced that its board has authorized a share buyback plan on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in 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 related news, CFO Richard P. Dealy sold 5,523 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $164.23, for a total value of $907,042.29. Following the completion of the sale, the chief financial officer now directly owns 76,297 shares in the company, valued at $12,530,256.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Teresa A. Fairbrook sold 2,134 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $180.00, for a total value of $384,120.00. Following the completion of the sale, the vice president now owns 10,284 shares of the company’s stock, valued at $1,851,120. The disclosure for this sale can be found here. Insiders sold 26,218 shares of company stock valued at $4,486,025 over the last 90 days. 0.89% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors acquired a new stake in Pioneer Natural Resources in the fourth quarter valued at $104,000. Pin Oak Investment Advisors Inc. acquired a new stake in Pioneer Natural Resources in the fourth quarter valued at $129,000. Banco de Sabadell S.A acquired a new stake in Pioneer Natural Resources in the fourth quarter valued at $147,000. Steward Partners Investment Advisory LLC acquired a new stake in Pioneer Natural Resources in the third quarter valued at $176,000. Finally, Savant Capital LLC acquired a new stake in Pioneer Natural Resources in the fourth quarter valued at $208,000. Institutional investors and hedge funds own 89.44% of the company’s stock.
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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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