Investors Buy Shares of 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 companies 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 research firms have recently issued reports on PXD. Barclays PLC raised shares of Pioneer Natural Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $152.00 to $175.00 in a research report on Tuesday, August 2nd. Vetr raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $163.75 price target on the stock in a research report on Wednesday, May 4th. Nomura increased 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. Credit Agricole SA initiated coverage on shares of Pioneer Natural Resources in a research report on Wednesday, June 22nd. They set a “buy” rating on the stock. Finally, Canaccord Genuity increased their price target on shares of Pioneer Natural Resources from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pioneer Natural Resources currently has a consensus rating of “Buy” and an average target price of $174.96.
The firm’s market cap is $30.44 billion. The stock’s 50-day moving average price is $165.46 and its 200 day moving average price is $151.71.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Wednesday, July 27th. The oil and gas development company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.12. The firm earned $786 million during the quarter, compared to the consensus estimate of $797.28 million. During the same quarter last year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, equities research analysts anticipate that Pioneer Natural Resources Co. will post ($0.29) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Wednesday, September 28th.
In related news, EVP Jerome D. Hall, Jr. sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $149.90, for a total value of $239,840.00. Following the completion of the sale, the executive vice president now directly owns 23,428 shares in the company, valued at $3,511,857.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Mark H. Kleinman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $151.01, for a total value of $151,010.00. Following the completion of the sale, the senior vice president now owns 16,816 shares of the company’s stock, valued at $2,539,384.16. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Pioneer Natural Resources stock. KBC Group NV increased its position in shares of 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 firm 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 at the end of the most recent reporting period.
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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