Pioneer Natural Resources (NYSE:PXD) PT Raised to $285.00

Pioneer Natural Resources (NYSE:PXDGet Rating) had its price target increased by TD Securities from $280.00 to $285.00 in a report issued on Thursday, BayStreet.CA reports. The firm currently has a buy rating on the oil and gas development company’s stock.

Several other equities analysts also recently commented on PXD. MKM Partners lowered their price target on Pioneer Natural Resources from $242.00 to $234.00 and set a buy rating on the stock in a report on Friday, February 18th. Mizuho lifted their target price on Pioneer Natural Resources from $266.00 to $343.00 and gave the stock a buy rating in a research report on Thursday, March 31st. Susquehanna Bancshares upped 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. Morgan Stanley lifted their price objective on Pioneer Natural Resources from $213.00 to $272.00 and gave the stock an equal weight rating in a report on Friday, April 22nd. Finally, Wells Fargo & Company upped their target price on Pioneer Natural Resources from $244.00 to $276.00 and gave the company an overweight rating in a research note on Monday, March 14th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $275.32.

NYSE:PXD traded up $10.01 during trading hours on Thursday, reaching $266.49. The company’s stock had a trading volume of 41,710 shares, compared to its average volume of 1,829,556. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.42. The company has a market cap of $64.73 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 0.87 and a beta of 1.53. Pioneer Natural Resources has a one year low of $133.73 and a one year high of $260.00. The business’s 50-day moving average is $244.14 and its 200-day moving average is $213.56.

Pioneer Natural Resources (NYSE:PXDGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The oil and gas development company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.61 by $1.13. Pioneer Natural Resources had a return on equity of 15.04% and a net margin of 14.46%. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the prior year, the company posted $1.77 EPS. The firm’s revenue was up 152.5% on a year-over-year basis. On average, sell-side analysts predict that Pioneer Natural Resources will post 32.63 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Tuesday, May 31st will be issued a $7.38 dividend. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, May 27th. This represents a $29.52 annualized dividend and a yield of 11.08%. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 15.09%.

In related news, Director Larry R. Grillot sold 500 shares of Pioneer Natural Resources stock in a transaction on Monday, February 28th. The stock was sold at an average price of $234.37, for a total transaction of $117,185.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris J. Cheatwood sold 4,653 shares of the 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. Over the last quarter, insiders sold 99,502 shares of company stock valued at $24,082,861. Corporate insiders own 0.55% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Old North State Trust LLC lifted its holdings in Pioneer Natural Resources by 353.1% during the fourth quarter. Old North State Trust LLC now owns 145 shares of the oil and gas development company’s stock worth $26,000 after acquiring an additional 113 shares in the last quarter. Covestor Ltd bought a new position in shares of Pioneer Natural Resources during the 4th quarter valued at about $27,000. Riverview Trust Co acquired a new position in shares of Pioneer Natural Resources in the 1st quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV increased its stake in Pioneer Natural Resources by 238.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 176 shares of the oil and gas development company’s stock worth $32,000 after purchasing an additional 124 shares in the last quarter. Finally, Icapital Wealth LLC acquired a new stake in Pioneer Natural Resources during the 1st quarter worth approximately $33,000. 87.65% of the stock is owned by institutional investors.

Pioneer Natural Resources Company Profile (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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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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