Pioneer Natural Resources Company (PXD) PT Lowered to $185.00 at Piper Jaffray Companies
Pioneer Natural Resources Company (NYSE:PXD) had its target price lowered by Piper Jaffray Companies from $229.00 to $185.00 in a research report sent to investors on Monday morning. The firm currently has an overweight rating on the oil and gas development company’s stock.
A number of other analysts have also issued reports on the company. Cowen and Company reaffirmed a buy rating and issued a $210.00 price target on shares of Pioneer Natural Resources in a research note on Sunday. Jefferies Group LLC set a $171.00 price target on Pioneer Natural Resources and gave the stock a buy rating in a research note on Tuesday, August 29th. Imperial Capital assumed coverage on Pioneer Natural Resources in a research note on Tuesday, August 22nd. They issued an outperform rating and a $160.00 price target on the stock. Zacks Investment Research raised Pioneer Natural Resources from a sell rating to a hold rating in a research note on Thursday, August 17th. Finally, Citigroup Inc. lowered their price target on Pioneer Natural Resources from $190.00 to $165.00 and set a buy rating on the stock in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Pioneer Natural Resources has an average rating of Buy and an average price target of $201.35.
Pioneer Natural Resources (NYSE:PXD) opened at 141.27 on Monday. The stock’s 50 day moving average price is $133.40 and its 200-day moving average price is $162.00. The company has a market capitalization of $24.03 billion, a P/E ratio of 142.55 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.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.06 billion. Pioneer Natural Resources had a return on equity of 1.79% and a net margin of 3.10%. The business’s revenue was up 107.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.22) earnings per share. Analysts predict that Pioneer Natural Resources will post $1.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.11%. Pioneer Natural Resources’s dividend payout ratio is currently 8.16%.
In other news, VP Teresa A. Fairbrook sold 880 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $130.49, for a total transaction of $114,831.20. Following the completion of the transaction, the vice president now directly owns 7,648 shares of the company’s stock, valued at approximately $997,987.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrew F. Cates acquired 350 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $135.37 per share, with a total value of $47,379.50. Following the completion of the transaction, the director now owns 14,556 shares in the company, valued at approximately $1,970,445.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,200 shares of company stock valued at $161,102. Insiders own 0.89% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PXD. BlackRock Inc. boosted its position in shares of Pioneer Natural Resources by 2,397.3% during the 1st quarter. BlackRock Inc. now owns 11,376,848 shares of the oil and gas development company’s stock worth $2,118,708,000 after acquiring an additional 10,921,279 shares in the last quarter. Capital World Investors boosted its position in shares of Pioneer Natural Resources by 45.4% during the 2nd quarter. Capital World Investors now owns 8,005,002 shares of the oil and gas development company’s stock worth $1,277,438,000 after acquiring an additional 2,500,000 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Pioneer Natural Resources by 706.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,006,435 shares of the oil and gas development company’s stock worth $319,475,000 after acquiring an additional 1,757,576 shares in the last quarter. FMR LLC boosted its position in shares of Pioneer Natural Resources by 18.3% during the 1st quarter. FMR LLC now owns 8,424,493 shares of the oil and gas development company’s stock worth $1,568,894,000 after acquiring an additional 1,304,274 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Pioneer Natural Resources by 68,788.6% during the 1st quarter. Clearbridge Investments LLC now owns 895,552 shares of the oil and gas development company’s stock worth $166,779,000 after acquiring an additional 894,252 shares in the last quarter. 91.57% of the stock is owned by institutional investors and hedge funds.
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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