Pioneer Natural Resources (NYSE:PXD) Earns Sector Perform Rating from Royal Bank of Canada

Pioneer Natural Resources (NYSE:PXD)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They presently have a $279.00 price objective on the oil and gas development company’s stock. Royal Bank of Canada’s target price points to a potential upside of 3.05% from the stock’s current price.

PXD has been the subject of several other research reports. Truist Financial boosted their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Mizuho boosted their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. UBS Group cut their price objective on Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Stifel Nicolaus cut their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a report on Tuesday, January 23rd. Finally, StockNews.com began coverage on Pioneer Natural Resources in a report on Friday, April 5th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $259.00.

Pioneer Natural Resources Price Performance

Shares of NYSE:PXD opened at $270.73 on Thursday. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83. The business has a 50-day moving average of $246.65 and a two-hundred day moving average of $236.89. The stock has a market capitalization of $63.25 billion, a P/E 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 posted its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the firm posted $5.91 EPS. Pioneer Natural Resources’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Pioneer Natural Resources will post 20.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the sale, the director now directly owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total value of $522,240.00. Following the transaction, the director now directly owns 11,132 shares in the company, valued at approximately $2,906,787.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the completion of the transaction, the director now owns 462,112 shares in the company, valued at $108,711,848. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock worth $9,067,373 in the last three months. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PXD. Hartford Financial Management Inc. boosted its position in Pioneer Natural Resources by 61.1% in the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after buying an additional 44 shares during the last quarter. Sachetta LLC bought a new position in Pioneer Natural Resources in the 4th quarter valued at $27,000. BluePath Capital Management LLC bought a new position in Pioneer Natural Resources in the 3rd quarter valued at $29,000. Ancora Advisors LLC boosted its position in Pioneer Natural Resources by 77.4% in the 1st quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock valued at $30,000 after buying an additional 65 shares during the last quarter. Finally, DecisionPoint Financial LLC bought a new position in Pioneer Natural Resources in the 2nd quarter valued at $34,000. 80.57% of the stock is currently owned by institutional investors.

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.