Pioneer Natural Resources (PXD) Shares Gap Up to $161.71

Shares of Pioneer Natural Resources (NYSE:PXD) gapped up before the market opened on Thursday . The stock had previously closed at $167.47, but opened at $161.71. Pioneer Natural Resources shares last traded at $159.24, with a volume of 67359 shares traded.

A number of analysts recently weighed in on PXD shares. Morgan Stanley started coverage on shares of Pioneer Natural Resources in a research note on Thursday, July 12th. They set an “overweight” rating and a $240.00 target price on the stock. Robert W. Baird set a $225.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Friday, July 27th. Zacks Investment Research lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Royal Bank of Canada restated a “buy” rating and set a $245.00 target price on shares of Pioneer Natural Resources in a research note on Friday, July 13th. Finally, Barclays started coverage on shares of Pioneer Natural Resources in a research note on Wednesday, August 29th. They set an “overweight” rating and a $225.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Pioneer Natural Resources currently has a consensus rating of “Buy” and an average price target of $235.96.

The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. The firm has a market cap of $25.31 billion, a PE ratio of 72.46, a P/E/G ratio of 1.69 and a beta of 1.04.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.38. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.24 billion. Pioneer Natural Resources had a return on equity of 9.58% and a net margin of 15.98%. The firm’s quarterly revenue was up 112.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, research analysts predict that Pioneer Natural Resources will post 6.87 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.41%. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, September 27th. Pioneer Natural Resources’s dividend payout ratio is 14.81%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Pioneer Natural Resources by 9.1% in the second quarter. BlackRock Inc. now owns 12,425,606 shares of the oil and gas development company’s stock valued at $2,351,423,000 after acquiring an additional 1,032,381 shares during the period. FMR LLC boosted its holdings in shares of Pioneer Natural Resources by 27.9% in the second quarter. FMR LLC now owns 6,431,051 shares of the oil and gas development company’s stock valued at $1,217,012,000 after acquiring an additional 1,401,626 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Pioneer Natural Resources by 5.0% during the second quarter. Artisan Partners Limited Partnership now owns 2,363,653 shares of the oil and gas development company’s stock worth $447,298,000 after purchasing an additional 113,443 shares during the period. Northern Trust Corp lifted its holdings in shares of Pioneer Natural Resources by 0.3% during the second quarter. Northern Trust Corp now owns 2,007,607 shares of the oil and gas development company’s stock worth $379,919,000 after purchasing an additional 5,666 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Pioneer Natural Resources by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,514,423 shares of the oil and gas development company’s stock worth $263,797,000 after purchasing an additional 8,115 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

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Pioneer Natural Resources Company Profile (NYSE:PXD)

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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