BMO Capital Markets reissued their buy rating on shares of Pioneer Natural Resources (NYSE:PXD) in a report released on Tuesday, February 27th. BMO Capital Markets currently has a $250.00 target price on the oil and gas development company’s stock.
Other analysts also recently issued reports about the stock. Mizuho restated a buy rating and set a $196.00 price target on shares of Pioneer Natural Resources in a research report on Friday, November 3rd. JPMorgan Chase & Co. set a $185.00 price target on shares of Pioneer Natural Resources and gave the stock a buy rating in a research report on Wednesday, January 3rd. National Alliance Securities upgraded shares of Pioneer Natural Resources from a hold rating to a buy rating in a research report on Monday, February 12th. Citigroup boosted their price target on shares of Pioneer Natural Resources from $215.00 to $250.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Finally, Credit Suisse Group assumed coverage on shares of Pioneer Natural Resources in a research note on Monday, December 11th. They issued an outperform rating and a $192.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-six have assigned a buy rating to the company. Pioneer Natural Resources currently has a consensus rating of Buy and a consensus price target of $211.40.
Shares of Pioneer Natural Resources (PXD) opened at $169.56 on Tuesday. The firm has a market cap of $28,880.00, a PE ratio of 142.49, a P/E/G ratio of 2.56 and a beta of 0.96. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $192.93. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.31.
Pioneer Natural Resources declared that its Board of Directors has approved a share buyback plan on Tuesday, February 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. This represents a yield of 0.18%. Pioneer Natural Resources’s payout ratio is presently 6.72%.
In related news, SVP Mark H. Kleinman sold 1,150 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $180.17, for a total transaction of $207,195.50. Following the transaction, the senior vice president now directly owns 13,327 shares of the company’s stock, valued at $2,401,125.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Margaret Montemayor sold 1,410 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $179.33, for a total transaction of $252,855.30. Following the transaction, the chief accounting officer now directly owns 7,586 shares in the company, valued at $1,360,397.38. The disclosure for this sale can be found here. Insiders have sold 28,218 shares of company stock worth $4,801,725 over the last ninety days. 0.89% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PXD. Fairfield Bush & CO. acquired a new stake in Pioneer Natural Resources in the fourth quarter valued at approximately $277,000. Xact Kapitalforvaltning AB lifted its stake in Pioneer Natural Resources by 14.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 16,185 shares of the oil and gas development company’s stock valued at $2,798,000 after acquiring an additional 2,104 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Pioneer Natural Resources by 27.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 41,462 shares of the oil and gas development company’s stock valued at $7,167,000 after acquiring an additional 8,877 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in Pioneer Natural Resources in the fourth quarter valued at approximately $129,000. Finally, Delek Group Ltd. acquired a new stake in Pioneer Natural Resources in the fourth quarter valued at approximately $10,356,000. 89.44% of the stock is currently owned by hedge funds and other institutional investors.
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About Pioneer Natural Resources
Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado and the West Panhandle field in the Texas Panhandle.
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