Investors Buy Pioneer Natural Resources Co. (PXD) on Weakness
Investors purchased shares of Pioneer Natural Resources Co. (NYSE:PXD) on weakness during trading hours on Thursday. $82.23 million flowed into the stock on the tick-up and $71.94 million flowed out of the stock on the tick-down, for a money net flow of $10.29 million into the stock. Of all stocks tracked, Pioneer Natural Resources had the 18th highest net in-flow for the day. Pioneer Natural Resources traded down ($0.17) for the day and closed at $180.41
A number of equities analysts have weighed in on PXD shares. Nomura upped their price target on shares of Pioneer Natural Resources from $156.00 to $189.00 and gave the stock a “buy” rating in a research report on Monday, May 2nd. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a research report on Tuesday, July 5th. Royal Bank Of Canada lowered their target price on shares of Pioneer Natural Resources from $152.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, June 1st. Capital One Financial Corp. raised shares of Pioneer Natural Resources from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 28th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating on shares of Pioneer Natural Resources in a report on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. Pioneer Natural Resources currently has an average rating of “Buy” and a consensus price target of $174.96.
The stock has a 50-day moving average price of $164.62 and a 200-day moving average price of $151.25. The firm’s market capitalization is $30.60 billion.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Wednesday, July 27th. The oil and gas development company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.12. The firm earned $786 million during the quarter, compared to analyst estimates of $797.28 million. The business’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities research analysts predict that Pioneer Natural Resources Co. will post ($0.29) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Friday, September 30th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.09%.
In other news, EVP Jerome D. Hall, Jr. sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $183.24, for a total transaction of $183,240.00. Following the completion of the transaction, the executive vice president now directly owns 21,994 shares of the company’s stock, valued at $4,030,180.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Timothy L. Dove sold 13,254 shares of the business’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $152.24, for a total value of $2,017,788.96. Following the transaction, the chief operating officer now directly owns 271,993 shares of the company’s stock, valued at $41,408,214.32. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Pioneer Natural Resources stock. KBC Group NV increased its position in Pioneer Natural Resources Co. (NYSE:PXD) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,516 shares of the oil and gas development company’s stock after buying an additional 6,187 shares during the period. KBC Group NV’s holdings in Pioneer Natural Resources were worth $5,581,000 as of its most recent SEC filing.
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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