Pioneer Natural Resources (NYSE:PXD) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Pioneer Natural Resources (NYSE:PXDFree Report) in a research report released on Monday. The brokerage issued a hold rating on the oil and gas development company’s stock.

Several other analysts have also recently weighed in on PXD. Stifel Nicolaus decreased their price objective on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a hold rating on the stock in a research note on Tuesday, January 23rd. Susquehanna lowered their target price on Pioneer Natural Resources from $250.00 to $237.00 and set a neutral rating for the company in a research note on Friday, January 26th. Mizuho lifted their price target on Pioneer Natural Resources from $264.00 to $275.00 and gave the company a neutral rating in a report on Monday, February 26th. UBS Group decreased their price objective on shares of Pioneer Natural Resources from $269.00 to $250.00 and set a neutral rating on the stock in a report on Thursday, December 14th. Finally, Argus downgraded shares of Pioneer Natural Resources from a buy rating to a sell rating in a research note on Friday, November 24th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $255.14.

Check Out Our Latest Report on Pioneer Natural Resources

Pioneer Natural Resources Trading Down 1.1 %

Pioneer Natural Resources stock opened at $234.77 on Monday. Pioneer Natural Resources has a 12 month low of $177.26 and a 12 month high of $257.76. The stock has a market cap of $54.85 billion, a price-to-earnings ratio of 11.60 and a beta of 1.30. The business has a 50 day moving average price of $227.74 and a two-hundred day moving average price of $232.31. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21.

Pioneer Natural Resources (NYSE:PXDGet Free Report) last posted its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.91 EPS. As a group, equities analysts forecast that Pioneer Natural Resources will post 21.27 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Monday, March 4th will be issued a dividend of $2.56 per share. The ex-dividend date is Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 4.36%. Pioneer Natural Resources’s payout ratio is presently 24.70%.

Insiders Place Their Bets

In other news, Director Maria S. Dreyfus sold 10,632 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $226.62, for a total transaction of $2,409,423.84. Following the completion of the transaction, the director now directly owns 4,066 shares in the company, valued at approximately $921,436.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Pioneer Natural Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of PXD. Vanguard Group Inc. boosted its position in Pioneer Natural Resources by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 20,256,685 shares of the oil and gas development company’s stock worth $4,555,323,000 after purchasing an additional 240,934 shares during the period. Geode Capital Management LLC lifted its position in Pioneer Natural Resources by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,371,116 shares of the oil and gas development company’s stock worth $903,900,000 after acquiring an additional 33,152 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Pioneer Natural Resources by 46.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock worth $968,877,000 after acquiring an additional 1,343,601 shares during the period. Clearbridge Investments LLC grew its position in shares of Pioneer Natural Resources by 7.6% in the third quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock valued at $748,271,000 after purchasing an additional 231,470 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Pioneer Natural Resources by 25.7% during the third quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after purchasing an additional 662,891 shares during the period. Institutional investors own 82.72% of the company’s stock.

Pioneer Natural Resources Company Profile

(Get Free Report)

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 in the Midland Basin in West Texas. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.

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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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