Pioneer Natural Resources (NYSE:PXD) Given Average Rating of “Moderate Buy” by Brokerages

Pioneer Natural Resources (NYSE:PXD – Get Rating) has received a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $265.74.

PXD has been the subject of several research reports. Sanford C. Bernstein dropped their price objective on shares of Pioneer Natural Resources from $283.00 to $241.00 and set an “outperform” rating for the company in a report on Tuesday, February 28th. Citigroup dropped their price objective on shares of Pioneer Natural Resources from $255.00 to $232.00 and set a “neutral” rating for the company in a report on Thursday, February 2nd. Tudor, Pickering, Holt & Co. upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research report on Monday, February 27th. Piper Sandler decreased their target price on shares of Pioneer Natural Resources from $340.00 to $322.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 7th. Finally, StockNews.com started coverage on shares of Pioneer Natural Resources in a research report on Thursday. They set a “hold” rating on the stock.

Pioneer Natural Resources Trading Down 2.4 %

Shares of Pioneer Natural Resources stock opened at $182.05 on Friday. The company has a market capitalization of $42.78 billion, a P/E ratio of 5.86, a P/E/G ratio of 1.01 and a beta of 1.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.96. The company has a fifty day moving average of $218.31 and a 200 day moving average of $232.38. Pioneer Natural Resources has a fifty-two week low of $177.26 and a fifty-two week high of $288.46.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last issued its earnings results on Wednesday, February 22nd. The oil and gas development company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $5.83 by $0.08. Pioneer Natural Resources had a net margin of 32.29% and a return on equity of 33.15%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the prior year, the firm posted $4.58 EPS. Pioneer Natural Resources’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Pioneer Natural Resources will post 22.67 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Monday, March 6th were given a $5.58 dividend. This represents a $22.32 dividend on an annualized basis and a yield of 12.26%. The ex-dividend date of this dividend was Friday, March 3rd. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 14.17%.

Institutional Trading of Pioneer Natural Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Pioneer Natural Resources during the fourth quarter worth approximately $27,000. Evermay Wealth Management LLC increased its position in shares of Pioneer Natural Resources by 48.2% during the third quarter. Evermay Wealth Management LLC now owns 123 shares of the oil and gas development company’s stock worth $27,000 after acquiring an additional 40 shares during the period. Cowa LLC purchased a new position in shares of Pioneer Natural Resources during the third quarter worth approximately $27,000. Kistler Tiffany Companies LLC purchased a new position in shares of Pioneer Natural Resources during the third quarter worth approximately $27,000. Finally, Ronald Blue Trust Inc. increased its position in shares of Pioneer Natural Resources by 84.1% during the third quarter. Ronald Blue Trust Inc. now owns 127 shares of the oil and gas development company’s stock worth $29,000 after acquiring an additional 58 shares during the period. 89.75% of the stock is owned by hedge funds and other institutional investors.

Pioneer Natural Resources Company Profile

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Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.