Pioneer Natural Resources Company (PXD) Price Target Cut to $197.00 by Analysts at Morgan Stanley
Pioneer Natural Resources Company (NYSE:PXD) had its target price trimmed by Morgan Stanley from $202.00 to $197.00 in a research note published on Wednesday. The firm currently has an overweight rating on the oil and gas development company’s stock.
A number of other equities research analysts also recently weighed in on the company. Jefferies Group LLC set a $171.00 target price on Pioneer Natural Resources and gave the stock a buy rating in a research report on Tuesday, August 29th. Zacks Investment Research downgraded Pioneer Natural Resources from a hold rating to a sell rating in a report on Monday, July 17th. BMO Capital Markets decreased their price objective on Pioneer Natural Resources from $240.00 to $230.00 and set an outperform rating on the stock in a report on Friday, July 14th. Stifel Nicolaus set a $248.00 price objective on Pioneer Natural Resources and gave the company a buy rating in a report on Thursday, October 5th. Finally, Citigroup Inc. decreased their price objective on Pioneer Natural Resources from $210.00 to $190.00 and set a buy rating on the stock in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $194.75.
Shares of Pioneer Natural Resources (PXD) opened at 144.75 on Wednesday. The firm has a market cap of $24.62 billion, a PE ratio of 146.06 and a beta of 0.94. Pioneer Natural Resources has a 52 week low of $125.46 and a 52 week high of $199.83. The firm’s 50-day moving average price is $142.42 and its 200 day moving average price is $156.16.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. Pioneer Natural Resources had a return on equity of 1.79% and a net margin of 3.10%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 107.4% compared to the same quarter last year. Equities analysts anticipate that Pioneer Natural Resources will post $1.16 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Thursday, September 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 8.16%.
In related news, VP Teresa A. Fairbrook sold 880 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $130.49, for a total value of $114,831.20. Following the completion of the transaction, the vice president now owns 7,648 shares in the company, valued at approximately $997,987.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew F. Cates acquired 350 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $135.37 per share, with a total value of $47,379.50. Following the transaction, the director now directly owns 14,556 shares in the company, valued at $1,970,445.72. The disclosure for this purchase can be found here. Insiders purchased a total of 1,200 shares of company stock valued at $161,102 in the last 90 days. 0.89% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Oakbrook Investments LLC bought a new position in Pioneer Natural Resources in the 3rd quarter worth approximately $771,000. SeaBridge Investment Advisors LLC raised its position in Pioneer Natural Resources by 33.6% in the 3rd quarter. SeaBridge Investment Advisors LLC now owns 43,594 shares of the oil and gas development company’s stock worth $6,432,000 after purchasing an additional 10,953 shares during the last quarter. Viking Fund Management LLC raised its position in Pioneer Natural Resources by 1.7% in the 3rd quarter. Viking Fund Management LLC now owns 123,000 shares of the oil and gas development company’s stock worth $18,147,000 after purchasing an additional 2,000 shares during the last quarter. Exane Derivatives raised its position in Pioneer Natural Resources by 412.7% in the 3rd quarter. Exane Derivatives now owns 1,579 shares of the oil and gas development company’s stock worth $233,000 after purchasing an additional 1,271 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its position in Pioneer Natural Resources by 65.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 34,235 shares of the oil and gas development company’s stock worth $5,051,000 after purchasing an additional 13,571 shares during the last quarter. Hedge funds and other institutional investors own 91.46% of the company’s stock.
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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