BMO Capital Markets reiterated their buy rating on shares of Pioneer Natural Resources (NYSE:PXD) in a report issued on Wednesday morning. The firm currently has a $260.00 target price on the oil and gas development company’s stock.
Several other brokerages have also recently issued reports on PXD. Stifel Nicolaus set a $260.00 price target on shares of Pioneer Natural Resources and gave the company a buy rating in a research report on Tuesday, January 30th. Morgan Stanley upped their price objective on shares of Pioneer Natural Resources from $197.00 to $229.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. Credit Suisse Group set a $218.00 price objective on shares of Pioneer Natural Resources and gave the company a buy rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Cowen set a $225.00 price objective on shares of Pioneer Natural Resources and gave the company a buy rating in a research note on Thursday, January 18th. Finally, KeyCorp set a $195.00 price objective on shares of Pioneer Natural Resources and gave the company a buy rating in a research note on Sunday, January 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Pioneer Natural Resources has a consensus rating of Buy and a consensus price target of $213.76.
Shares of NYSE PXD opened at $188.32 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $189.95. The company has a market capitalization of $31,098.63, a price-to-earnings ratio of 87.19, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96.
The business also recently announced a semiannual dividend, which was paid on Thursday, April 12th. Investors of record on Thursday, March 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. This represents a yield of 0.18%. Pioneer Natural Resources’s dividend payout ratio is currently 14.81%.
Pioneer Natural Resources declared that its Board of Directors has initiated a stock buyback program 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 purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In other Pioneer Natural Resources news, VP Teresa A. Fairbrook sold 2,134 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $180.00, for a total transaction of $384,120.00. Following the transaction, the vice president now owns 10,284 shares in the company, valued at $1,851,120. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Scott D. Sheffield sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $170.93, for a total transaction of $341,860.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,207 shares of company stock worth $3,219,653. 0.89% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new position in Pioneer Natural Resources during the fourth quarter worth $104,000. Pin Oak Investment Advisors Inc. acquired a new position in Pioneer Natural Resources during the fourth quarter worth $129,000. Banco de Sabadell S.A acquired a new position in Pioneer Natural Resources during the fourth quarter worth $147,000. Steward Partners Investment Advisory LLC acquired a new position in Pioneer Natural Resources during the third quarter worth $176,000. Finally, Savant Capital LLC acquired a new position in Pioneer Natural Resources during the fourth quarter worth $208,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.
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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, 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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