Pioneer Natural Resources (NYSE:PXD) PT Raised to $142.00

Pioneer Natural Resources (NYSE:PXD) had its target price increased by JPMorgan Chase & Co. from $119.00 to $142.00 in a research note released on Monday morning, The Fly reports.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Pioneer Natural Resources from a hold rating to a sell rating and set a $117.00 target price for the company. in a research note on Tuesday, December 29th. Bank of America boosted their target price on Pioneer Natural Resources from $122.00 to $130.00 and gave the company a buy rating in a research note on Monday, September 28th. Truist raised Pioneer Natural Resources from a hold rating to a buy rating and boosted their target price for the company from $95.00 to $135.00 in a research note on Tuesday, December 22nd. KeyCorp boosted their target price on Pioneer Natural Resources from $123.00 to $132.00 and gave the company an overweight rating in a research note on Thursday, January 7th. Finally, Stifel Nicolaus lowered their target price on Pioneer Natural Resources from $161.00 to $149.00 and set a buy rating for the company in a research note on Wednesday, October 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $128.55.

Shares of PXD stock opened at $130.93 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $115.29 and a two-hundred day moving average price of $99.55. Pioneer Natural Resources has a 12-month low of $48.62 and a 12-month high of $149.54. The firm has a market cap of $21.53 billion, a P/E ratio of 51.96, a price-to-earnings-growth ratio of 6.28 and a beta of 1.84.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Wednesday, November 4th. The oil and gas development company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). Pioneer Natural Resources had a return on equity of 7.20% and a net margin of 5.26%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the firm earned $1.99 EPS. The company’s revenue for the quarter was down 21.9% on a year-over-year basis. As a group, research analysts expect that Pioneer Natural Resources will post 1.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Wednesday, December 30th. Pioneer Natural Resources’s payout ratio is 26.89%.

In other Pioneer Natural Resources news, EVP Chris J. Cheatwood sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $116.29, for a total transaction of $782,399.12. Following the transaction, the executive vice president now owns 46,026 shares in the company, valued at approximately $5,352,363.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry R. Grillot sold 500 shares of the company’s stock in a transaction that occurred on Thursday, December 17th. The stock was sold at an average price of $114.24, for a total value of $57,120.00. Following the transaction, the director now owns 11,723 shares in the company, valued at approximately $1,339,235.52. The disclosure for this sale can be found here. Insiders have sold a total of 13,835 shares of company stock valued at $1,567,819 in the last ninety days. 0.91% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of PXD. Nuveen Asset Management LLC grew its holdings in shares of Pioneer Natural Resources by 191.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,095,104 shares of the oil and gas development company’s stock worth $204,692,000 after acquiring an additional 1,375,597 shares during the period. AJO LP purchased a new position in shares of Pioneer Natural Resources during the 3rd quarter worth approximately $61,293,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Pioneer Natural Resources by 12.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,678,717 shares of the oil and gas development company’s stock worth $316,332,000 after acquiring an additional 397,546 shares during the period. State of Tennessee Treasury Department grew its holdings in shares of Pioneer Natural Resources by 92.3% during the 3rd quarter. State of Tennessee Treasury Department now owns 813,509 shares of the oil and gas development company’s stock worth $69,953,000 after acquiring an additional 390,471 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Pioneer Natural Resources by 101.7% during the 3rd quarter. SG Americas Securities LLC now owns 5,857 shares of the oil and gas development company’s stock worth $504,000 after acquiring an additional 349,858 shares during the period. Hedge funds and other institutional investors own 90.11% 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 primarily in the Permian Basin in West Texas. As of December 31, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil, 16 million barrels of NGLs, and 83 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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