Pioneer Natural Resources (PXD) Raises Dividend to $0.16 Per Share

Pioneer Natural Resources (NYSE:PXD) announced a semiannual dividend on Wednesday, February 7th, Wall Street Journal reports. Investors of record on Thursday, March 29th will be paid a dividend of 0.16 per share by the oil and gas development company on Thursday, April 12th. This represents a dividend yield of 0.18%. The ex-dividend date is Wednesday, March 28th. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04.

Pioneer Natural Resources has a payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pioneer Natural Resources to earn $6.78 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 1.2%.

Shares of Pioneer Natural Resources (NYSE PXD) opened at $176.20 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.69 and a quick ratio of 1.58. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $199.83. The stock has a market capitalization of $29,600.25, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 3.77 and a beta of 0.92.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.63. Pioneer Natural Resources had a return on equity of 3.51% and a net margin of 13.69%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 48.4% on a year-over-year basis. equities analysts predict that Pioneer Natural Resources will post 4.28 EPS for the current fiscal year.

Pioneer Natural Resources announced that its board has initiated a share buyback program on Tuesday, February 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of analysts have issued reports on PXD shares. Zacks Investment Research raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research report on Wednesday, October 11th. Barclays raised their target price on Pioneer Natural Resources from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Royal Bank of Canada set a $201.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Sunday, October 15th. Wolfe Research downgraded Pioneer Natural Resources from an “outperform” rating to a “market perform” rating and set a $143.78 target price for the company. in a research report on Monday, October 16th. Finally, Williams Capital decreased their target price on Pioneer Natural Resources from $165.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-five have given a buy rating to the stock. Pioneer Natural Resources has an average rating of “Buy” and an average target price of $207.18.

In other news, EVP Jerome D. Hall, Jr. sold 1,800 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $172.60, for a total value of $310,680.00. Following the completion of the transaction, the executive vice president now directly owns 22,964 shares of the company’s stock, valued at $3,963,586.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott D. Sheffield sold 5,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $172.38, for a total value of $861,900.00. Following the completion of the transaction, the director now directly owns 576,066 shares of the company’s stock, valued at $99,302,257.08. The disclosure for this sale can be found here. Insiders sold 27,106 shares of company stock valued at $4,444,339 over the last ninety days. Corporate insiders own 0.89% 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.

Dividend History for Pioneer Natural Resources (NYSE:PXD)

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