Analysts Set Pioneer Natural Resources (NYSE:PXD) PT at $282.00

Pioneer Natural Resources (NYSE:PXD – Get Rating) has received an average rating of “Moderate Buy” from the twenty ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $286.71.

Several research firms have commented on PXD. Barclays raised their price objective on Pioneer Natural Resources from $302.00 to $339.00 and gave the stock an “overweight” rating in a report on Tuesday, June 14th. Susquehanna Bancshares lifted their price target on Pioneer Natural Resources from $258.00 to $278.00 and gave the company a “positive” rating in a report on Monday, April 25th. Scotiabank downgraded Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $260.00 to $270.00 in a report on Monday, April 18th. Truist Financial lifted their price target on Pioneer Natural Resources from $245.00 to $281.00 in a report on Thursday, April 21st. Finally, Piper Sandler lifted their price target on Pioneer Natural Resources to $345.00 and gave the company a “na” rating in a report on Wednesday, May 18th.

In other Pioneer Natural Resources news, EVP Mark Stephen Berg sold 2,500 shares of Pioneer Natural Resources stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $286.90, for a total transaction of $717,250.00. Following the completion of the sale, the executive vice president now owns 47,046 shares of the company’s stock, valued at approximately $13,497,497.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris J. Cheatwood sold 4,653 shares of the business’s stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of $257.19, for a total value of $1,196,705.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,488 shares of company stock valued at $4,915,737. 0.55% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Capital World Investors lifted its holdings in shares of Pioneer Natural Resources by 10.0% in the 1st quarter. Capital World Investors now owns 15,679,316 shares of the oil and gas development company’s stock valued at $3,920,478,000 after buying an additional 1,423,102 shares during the period. Capital International Investors increased its stake in shares of Pioneer Natural Resources by 25.1% in the 1st quarter. Capital International Investors now owns 7,639,978 shares of the oil and gas development company’s stock valued at $1,910,622,000 after purchasing an additional 1,534,853 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Pioneer Natural Resources by 20.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,290,431 shares of the oil and gas development company’s stock valued at $1,322,766,000 after purchasing an additional 903,653 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Pioneer Natural Resources by 8.5% in the 1st quarter. Primecap Management Co. CA now owns 5,200,646 shares of the oil and gas development company’s stock valued at $1,300,318,000 after purchasing an additional 408,800 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Pioneer Natural Resources by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,328,150 shares of the oil and gas development company’s stock valued at $785,194,000 after purchasing an additional 29,148 shares in the last quarter. 87.65% of the stock is owned by institutional investors and hedge funds.

PXD opened at $228.81 on Thursday. The stock’s fifty day moving average is $257.54 and its two-hundred day moving average is $232.17. The company has a market capitalization of $55.36 billion, a P/E ratio of 13.93, a PEG ratio of 0.77 and a beta of 1.51. Pioneer Natural Resources has a 52 week low of $133.73 and a 52 week high of $288.46. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt-to-equity ratio of 0.23.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The oil and gas development company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.32 by $0.42. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.99 billion. Pioneer Natural Resources had a return on equity of 21.01% and a net margin of 22.85%. Pioneer Natural Resources’s quarterly revenue was up 152.5% on a year-over-year basis. During the same period last year, the business posted $1.77 EPS. Equities analysts anticipate that Pioneer Natural Resources will post 33.9 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 31st were given a dividend of $7.38 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $29.52 dividend on an annualized basis and a yield of 12.90%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.78. Pioneer Natural Resources’s payout ratio is currently 19.78%.

About Pioneer Natural Resources (Get Rating)

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. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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