Several other research analysts also recently commented on PXD. UBS Group assumed coverage on Pioneer Natural Resources in a research note on Wednesday. They issued a buy rating and a $215.00 target price for the company. BMO Capital Markets restated a buy rating and issued a $250.00 target price on shares of Pioneer Natural Resources in a research note on Tuesday, February 27th. TheStreet upgraded Pioneer Natural Resources from a c rating to a b rating in a research note on Tuesday, February 6th. Jefferies Group restated a buy rating and issued a $238.00 target price on shares of Pioneer Natural Resources in a research note on Thursday, February 8th. Finally, Cowen set a $225.00 target price on Pioneer Natural Resources and gave the stock a buy rating in a research note on Thursday, January 18th. 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 company. Pioneer Natural Resources presently has an average rating of Buy and a consensus price target of $211.40.
Pioneer Natural Resources (NYSE:PXD) opened at $171.53 on Wednesday. Pioneer Natural Resources has a 12 month low of $125.46 and a 12 month high of $192.93. The company has a quick ratio of 1.31, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $29,211.73, a PE ratio of 79.41, a price-to-earnings-growth ratio of 2.56 and a beta of 0.96.
The company 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 dividend of $0.16 per share. This represents a dividend yield of 0.18%. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 1.65%.
Pioneer Natural Resources declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In other Pioneer Natural Resources news, CFO Richard P. Dealy sold 5,523 shares of Pioneer Natural Resources stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 76,297 shares of the company’s stock, valued at approximately $12,530,256.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Margaret Montemayor sold 1,410 shares of Pioneer Natural Resources stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $179.33, for a total value of $252,855.30. Following the completion of the transaction, the chief accounting officer now directly owns 7,586 shares in the company, valued at $1,360,397.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,418 shares of company stock worth $4,993,105. 0.89% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in PXD. Raymond James Financial Services Advisors Inc. increased its stake in Pioneer Natural Resources by 18.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 97,291 shares of the oil and gas development company’s stock worth $14,355,000 after purchasing an additional 15,043 shares during the period. Victory Capital Management Inc. increased its stake in Pioneer Natural Resources by 690.7% in the 3rd quarter. Victory Capital Management Inc. now owns 23,175 shares of the oil and gas development company’s stock worth $3,419,000 after purchasing an additional 20,244 shares during the period. Andra AP fonden increased its stake in Pioneer Natural Resources by 53.0% in the 3rd quarter. Andra AP fonden now owns 25,100 shares of the oil and gas development company’s stock worth $3,703,000 after purchasing an additional 8,700 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Pioneer Natural Resources by 3.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,302 shares of the oil and gas development company’s stock worth $3,733,000 after purchasing an additional 898 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its stake in Pioneer Natural Resources by 1,150.0% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 2,500 shares of the oil and gas development company’s stock worth $368,000 after purchasing an additional 2,300 shares during the period. 88.55% of the stock is currently owned by institutional investors and hedge funds.
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Pioneer Natural Resources Company Profile
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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