Stifel Nicolaus Increases Pioneer Natural Resources (NYSE:PXD) Price Target to $275.00

Pioneer Natural Resources (NYSE:PXD) had its price objective boosted by Stifel Nicolaus from $237.00 to $275.00 in a research note released on Tuesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the oil and gas development company’s stock.

PXD has been the subject of a number of other research reports. Truist Financial raised their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a hold rating in a research note on Friday, April 5th. Susquehanna raised their target price on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a neutral rating in a research note on Monday. Mizuho lifted their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a neutral rating in a research note on Tuesday, March 19th. StockNews.com started coverage on Pioneer Natural Resources in a research note on Sunday. They set a hold rating for the company. Finally, Scotiabank lifted their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a sector perform rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $264.10.

Pioneer Natural Resources Price Performance

PXD opened at $275.12 on Tuesday. The stock’s 50 day simple moving average is $252.53 and its 200 day simple moving average is $239.17. 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 has a 1 year low of $196.74 and a 1 year high of $278.83. The firm has a market cap of $64.27 billion, a price-to-earnings ratio of 13.59 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) 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 company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the business earned $5.91 earnings per share. Pioneer Natural Resources’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts predict that Pioneer Natural Resources will post 21.5 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Insider Transactions at Pioneer Natural Resources

In related news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the completion of the sale, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director J Kenneth Thompson sold 1,000 shares of Pioneer Natural Resources stock in a transaction on Friday, March 15th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the sale, the director now owns 16,070 shares of the company’s stock, valued at $4,017,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the completion of the sale, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The disclosure for this sale can be found here. Insiders sold 36,766 shares of company stock worth $9,067,373 over the last quarter. 0.55% of the stock is currently owned by insiders.

Institutional Trading of Pioneer Natural Resources

Several large investors have recently modified their holdings of the company. Proficio Capital Partners LLC grew its holdings in Pioneer Natural Resources by 4.0% during the third quarter. Proficio Capital Partners LLC now owns 1,030 shares of the oil and gas development company’s stock valued at $236,000 after purchasing an additional 40 shares during the period. Caprock Group LLC grew its holdings in Pioneer Natural Resources by 1.5% during the third quarter. Caprock Group LLC now owns 2,855 shares of the oil and gas development company’s stock valued at $655,000 after purchasing an additional 41 shares during the period. MONECO Advisors LLC grew its holdings in Pioneer Natural Resources by 3.9% during the fourth quarter. MONECO Advisors LLC now owns 1,126 shares of the oil and gas development company’s stock valued at $253,000 after purchasing an additional 42 shares during the period. IFP Advisors Inc grew its holdings in Pioneer Natural Resources by 3.1% during the third quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock valued at $330,000 after purchasing an additional 43 shares during the period. Finally, Western Pacific Wealth Management LP grew its holdings in Pioneer Natural Resources by 20.0% during the third quarter. Western Pacific Wealth Management LP now owns 264 shares of the oil and gas development company’s stock valued at $61,000 after purchasing an additional 44 shares during the period. Institutional investors own 80.57% of the company’s stock.

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.