Pioneer Natural Resources (PXD) CEO Timothy L. Dove Sells 2,178 Shares of Stock

Pioneer Natural Resources (NYSE:PXD) CEO Timothy L. Dove sold 2,178 shares of the firm’s stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $212.44, for a total transaction of $462,694.32. Following the completion of the sale, the chief executive officer now directly owns 278,901 shares of the company’s stock, valued at approximately $59,249,728.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Pioneer Natural Resources opened at $209.84 on Tuesday, Marketbeat Ratings reports. The company has a market cap of $35.73 billion, a P/E ratio of 97.15, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 1.26. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $213.40.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Wednesday, May 2nd. The oil and gas development company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.16. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. Pioneer Natural Resources had a net margin of 15.56% and a return on equity of 5.57%. Pioneer Natural Resources’s revenue was up 56.5% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. sell-side analysts anticipate that Pioneer Natural Resources will post 6.74 earnings per share for the current fiscal year.

Pioneer Natural Resources declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

A number of hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors purchased a new position in Pioneer Natural Resources in the fourth quarter worth $104,000. Summit Trail Advisors LLC grew its holdings in Pioneer Natural Resources by 28,826.7% in the first quarter. Summit Trail Advisors LLC now owns 126,699 shares of the oil and gas development company’s stock worth $127,000 after purchasing an additional 126,261 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in Pioneer Natural Resources in the fourth quarter worth $129,000. Banco de Sabadell S.A purchased a new position in Pioneer Natural Resources in the fourth quarter worth $147,000. Finally, NuWave Investment Management LLC purchased a new position in Pioneer Natural Resources in the first quarter worth $177,000. 88.12% of the stock is currently owned by institutional investors.

PXD has been the subject of several analyst reports. National Alliance Securities raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research note on Monday, February 12th. KeyCorp raised their price objective on shares of Pioneer Natural Resources from $195.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, April 23rd. Stifel Nicolaus set a $260.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Credit Suisse Group set a $245.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $229.00 target price on shares of Pioneer Natural Resources in a research report on Wednesday, April 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $218.67.

About Pioneer Natural Resources

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.

Insider Buying and Selling by Quarter for Pioneer Natural Resources (NYSE:PXD)

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