Pioneer Natural Resources (NYSE:PXD) Price Target Raised to $282.00

Pioneer Natural Resources (NYSE:PXD) had its price objective boosted by Scotiabank from $230.00 to $282.00 in a research note published on Thursday, Benzinga reports. They currently have a sector perform rating on the oil and gas development company’s stock.

A number of other analysts have also recently weighed in on PXD. Stifel Nicolaus lowered their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a hold rating on the stock in a research report on Tuesday, January 23rd. Truist Financial increased their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a hold rating in a report on Friday, April 5th. Susquehanna increased their target price on Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a neutral rating in a report on Monday, March 4th. UBS Group decreased their target price on 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, StockNews.com assumed coverage on Pioneer Natural Resources in a report on Friday, April 5th. They set a hold rating on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $259.00.

Pioneer Natural Resources Stock Performance

Shares of NYSE:PXD opened at $270.80 on Thursday. The business’s fifty day moving average price is $246.65 and its two-hundred day moving average price is $236.97. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83. The stock has a market capitalization of $63.26 billion, a price-to-earnings ratio of 13.38 and a beta of 1.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly 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). Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company earned $5.91 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that Pioneer Natural Resources will post 20.88 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s payout ratio is 24.70%.

Insider Buying and Selling at Pioneer Natural Resources

In other news, Director Phillip A. Gobe sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the sale, the director now owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the completion of the transaction, the director now directly owns 11,132 shares in the company, valued at $2,906,787.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the transaction, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,766 shares of company stock valued at $9,067,373. 0.57% of the stock is currently owned by company insiders.

Institutional Trading of Pioneer Natural Resources

A number of hedge funds have recently made changes to their positions in the business. Hoxton Planning & Management LLC acquired a new stake in shares of Pioneer Natural Resources in the first quarter valued at approximately $254,000. Dynamic Advisor Solutions LLC lifted its holdings in Pioneer Natural Resources by 12.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 20,609 shares of the oil and gas development company’s stock worth $5,410,000 after purchasing an additional 2,235 shares during the last quarter. Mechanics Bank Trust Department acquired a new stake in Pioneer Natural Resources during the 1st quarter worth approximately $207,000. Gateway Investment Advisers LLC lifted its holdings in Pioneer Natural Resources by 27.2% during the 1st quarter. Gateway Investment Advisers LLC now owns 5,284 shares of the oil and gas development company’s stock worth $1,387,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Unison Advisors LLC lifted its holdings in Pioneer Natural Resources by 2.1% during the 1st quarter. Unison Advisors LLC now owns 8,985 shares of the oil and gas development company’s stock worth $2,359,000 after purchasing an additional 185 shares during the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

Pioneer Natural Resources Company Profile

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. The company was founded in 1997 and is headquartered in Irving, Texas.