Pioneer Natural Resources Co. (PXD) Sets New 12-Month High After Analyst Upgrade
Pioneer Natural Resources Co. (NYSE:PXD)’s share price hit a new 52-week high on Monday after Wunderlich raised their price target on the stock from $182.00 to $207.00. Wunderlich currently has a buy rating on the stock. Pioneer Natural Resources traded as high as $192.99 and last traded at $192.22, with a volume of 1,122,158 shares traded. The stock had previously closed at $186.39.
A number of other equities analysts also recently weighed in on the company. Williams Capital started coverage on Pioneer Natural Resources in a research report on Monday, August 29th. They set a “buy” rating and a $217.00 price target on the stock. KeyCorp boosted their price objective on Pioneer Natural Resources from $190.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, August 22nd. Societe Generale cut Pioneer Natural Resources from a “hold” rating to a “sell” rating and set a $132.00 price objective for the company. in a report on Thursday, August 4th. They noted that the move was a valuation call. KLR Group restated a “buy” rating and set a $238.00 price objective (up previously from $218.00) on shares of Pioneer Natural Resources in a report on Sunday, July 31st. Finally, Mitsubishi UFJ Financial Group began coverage on Pioneer Natural Resources in a report on Thursday, September 8th. They set a “neutral” rating and a $200.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $179.66.
In other Pioneer Natural Resources news, Director Larry R. Grillot sold 500 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $164.72, for a total value of $82,360.00. Following the completion of the sale, the director now owns 6,026 shares in the company, valued at approximately $992,602.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Timothy L. Dove sold 57,363 shares of the stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $176.29, for a total transaction of $10,112,523.27. Following the completion of the sale, the chief operating officer now owns 289,693 shares of the company’s stock, valued at approximately $51,069,978.97. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its stake in Pioneer Natural Resources by 11.9% in the first quarter. Legal & General Group Plc now owns 659,463 shares of the oil and gas development company’s stock valued at $92,811,000 after buying an additional 70,182 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Pioneer Natural Resources by 54.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 894,200 shares of the oil and gas development company’s stock valued at $125,850,000 after buying an additional 313,900 shares during the period. Strs Ohio raised its stake in Pioneer Natural Resources by 290.1% in the second quarter. Strs Ohio now owns 443,883 shares of the oil and gas development company’s stock valued at $67,119,000 after buying an additional 330,101 shares during the period. British Airways Pensions Investment Management Ltd purchased a new stake in Pioneer Natural Resources during the second quarter valued at approximately $26,395,000. Finally, Nationwide Fund Advisors raised its stake in Pioneer Natural Resources by 3.7% in the second quarter. Nationwide Fund Advisors now owns 200,915 shares of the oil and gas development company’s stock valued at $30,380,000 after buying an additional 7,083 shares during the period. Hedge funds and other institutional investors own 93.62% of the company’s stock.
The company’s 50 day moving average is $181.88 and its 200-day moving average is $164.05. The stock’s market capitalization is $32.64 billion.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Wednesday, July 27th. The oil and gas development company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.12. Pioneer Natural Resources had a negative net margin of 10.75% and a negative return on equity of 1.79%. The company had revenue of $786 million for the quarter, compared to analysts’ expectations of $797.28 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. Pioneer Natural Resources’s quarterly revenue was up 22.0% on a year-over-year basis. Equities research analysts forecast that Pioneer Natural Resources Co. will post ($0.25) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend is Wednesday, September 28th. Pioneer Natural Resources’s dividend payout ratio is currently -2.52%.
Pioneer Natural Resources Company Profile
Pioneer Natural Resources Company is an independent oil and gas exploration and production company with operations in the United States. The Company operates through the oil and gas development, exploration and production segment. The Company focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties.
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