Pioneer Natural Resources (NYSE:PXD) PT Raised to $172.00

Pioneer Natural Resources (NYSE:PXD) had its target price increased by KeyCorp from $168.00 to $172.00 in a research report sent to investors on Tuesday, October 15th, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and gas development company’s stock.

A number of other research analysts also recently weighed in on PXD. Robert W. Baird lifted their price target on Pioneer Natural Resources from $142.00 to $157.00 and gave the company an outperform rating in a report on Monday, September 30th. ValuEngine upgraded Pioneer Natural Resources from a sell rating to a hold rating in a report on Wednesday, October 2nd. Seaport Global Securities restated a buy rating on shares of Pioneer Natural Resources in a research note on Friday, June 21st. Piper Jaffray Companies set a $202.00 target price on Pioneer Natural Resources and gave the company a buy rating in a research note on Friday, August 16th. Finally, Wells Fargo & Co boosted their price target on Pioneer Natural Resources from $190.00 to $191.00 and gave the stock an outperform rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $186.97.

Shares of PXD traded down $1.58 during midday trading on Tuesday, reaching $134.99. The stock had a trading volume of 1,085,631 shares, compared to its average volume of 1,767,316. Pioneer Natural Resources has a 52 week low of $114.79 and a 52 week high of $178.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.78 and a quick ratio of 0.76. The firm’s 50 day moving average price is $128.54 and its 200-day moving average price is $138.37. The company has a market capitalization of $22.71 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.00 and a beta of 1.14.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Monday, November 4th. The oil and gas development company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.03). The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.32 billion. Pioneer Natural Resources had a return on equity of 9.86% and a net margin of 7.88%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. On average, equities analysts forecast that Pioneer Natural Resources will post 8.07 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.76 annualized dividend and a yield of 1.30%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 13.95%.

In related news, Director J Kenneth Thompson acquired 500 shares of the stock in a transaction dated Tuesday, August 27th. The shares were bought at an average cost of $121.01 per share, for a total transaction of $60,505.00. Following the purchase, the director now owns 13,024 shares in the company, valued at approximately $1,576,034.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Chris J. Cheatwood sold 5,619 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $140.35, for a total value of $788,626.65. Following the completion of the sale, the executive vice president now owns 39,027 shares in the company, valued at $5,477,439.45. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MML Investors Services LLC boosted its position in Pioneer Natural Resources by 27.7% in the 2nd quarter. MML Investors Services LLC now owns 6,323 shares of the oil and gas development company’s stock valued at $973,000 after buying an additional 1,371 shares during the last quarter. Winfield Associates Inc. acquired a new position in shares of Pioneer Natural Resources in the 2nd quarter valued at $287,000. Avitas Wealth Management LLC acquired a new position in shares of Pioneer Natural Resources in the 2nd quarter valued at $2,259,000. Hodges Capital Management Inc. lifted its stake in shares of Pioneer Natural Resources by 44.4% in the 2nd quarter. Hodges Capital Management Inc. now owns 1,950 shares of the oil and gas development company’s stock valued at $300,000 after purchasing an additional 600 shares during the period. Finally, FineMark National Bank & Trust lifted its stake in shares of Pioneer Natural Resources by 18.8% in the 2nd quarter. FineMark National Bank & Trust now owns 22,671 shares of the oil and gas development company’s stock valued at $3,488,000 after purchasing an additional 3,590 shares during the period. Institutional investors and hedge funds own 87.26% 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, 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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