Pioneer Natural Resources (NYSE:PXD) Receives $180.52 Average Price Target from Brokerages

Shares of Pioneer Natural Resources (NYSE:PXD) have received an average rating of “Buy” from the thirty brokerages that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $180.67.

PXD has been the topic of a number of research reports. TD Securities upped their price target on shares of Pioneer Natural Resources from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. KeyCorp upped their price target on shares of Pioneer Natural Resources from $178.00 to $182.00 and gave the company an “overweight” rating in a research note on Thursday. MKM Partners upped their price target on shares of Pioneer Natural Resources from $207.00 to $220.00 in a research note on Monday, April 5th. Cowen upped their price target on shares of Pioneer Natural Resources from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, April 5th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $143.00 price target on shares of Pioneer Natural Resources in a research note on Monday, March 8th.

Shares of PXD stock traded down $0.13 on Friday, reaching $163.00. The stock had a trading volume of 66,979 shares, compared to its average volume of 2,657,644. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average price is $155.66. The stock has a market capitalization of $39.76 billion, a price-to-earnings ratio of -57.24, a price-to-earnings-growth ratio of 1.59 and a beta of 1.93. Pioneer Natural Resources has a 12 month low of $76.58 and a 12 month high of $175.37.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, May 4th. The oil and gas development company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.35. Pioneer Natural Resources had a negative net margin of 6.97% and a positive return on equity of 4.10%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the firm earned $1.15 EPS. Pioneer Natural Resources’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts forecast that Pioneer Natural Resources will post 11.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 14th. Investors of record on Wednesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, June 29th. Pioneer Natural Resources’s payout ratio is 136.59%.

In related news, EVP Jerome D. Hall, Jr. sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $163.35, for a total value of $490,050.00. Following the completion of the transaction, the executive vice president now owns 50,333 shares of the company’s stock, valued at approximately $8,221,895.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Larry R. Grillot sold 500 shares of the stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $166.13, for a total transaction of $83,065.00. Following the completion of the transaction, the director now directly owns 11,223 shares of the company’s stock, valued at approximately $1,864,476.99. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Vantage Consulting Group Inc bought a new position in shares of Pioneer Natural Resources during the fourth quarter valued at $26,000. Childress Capital Advisors LLC bought a new position in shares of Pioneer Natural Resources during the fourth quarter valued at $28,000. Contravisory Investment Management Inc. bought a new position in shares of Pioneer Natural Resources during the first quarter valued at $28,000. Essex Investment Management Co. LLC bought a new position in shares of Pioneer Natural Resources during the first quarter valued at $30,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Pioneer Natural Resources by 82.6% during the first quarter. Parkside Financial Bank & Trust now owns 199 shares of the oil and gas development company’s stock valued at $32,000 after acquiring an additional 90 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other 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 Permian Basin in West Texas. As of December 31, 2020, the company had proved undeveloped reserves and proved developed non-producing reserves of 31 million barrels of oil, 17 million barrels of NGLs, and 88 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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