Pioneer Natural Resources (PXD) Coverage Initiated at B. Riley
B. Riley assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a report published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $305.00 target price on the oil and gas development company’s stock. B. Riley also issued estimates for Pioneer Natural Resources’ Q4 2017 earnings at $0.99 EPS, FY2017 earnings at $1.93 EPS, Q1 2018 earnings at $1.80 EPS, Q2 2018 earnings at $1.57 EPS, Q3 2018 earnings at $1.70 EPS, Q4 2018 earnings at $2.07 EPS, FY2018 earnings at $6.93 EPS, Q1 2019 earnings at $2.22 EPS, Q2 2019 earnings at $2.24 EPS, Q3 2019 earnings at $2.50 EPS, Q4 2019 earnings at $2.99 EPS and FY2019 earnings at $9.96 EPS.
Several other equities research analysts also recently weighed in on the company. Wolfe Research raised Pioneer Natural Resources from a market perform rating to an outperform rating in a research report on Tuesday, January 30th. Stifel Nicolaus set a $260.00 target price on Pioneer Natural Resources and gave the stock a buy rating in a research report on Tuesday, January 30th. Morgan Stanley upped their target price on Pioneer Natural Resources from $197.00 to $229.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Credit Suisse Group set a $218.00 price target on Pioneer Natural Resources and gave the stock a buy rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, KeyCorp set a $195.00 price target on Pioneer Natural Resources and gave the stock a buy rating in a research note on Sunday, January 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. Pioneer Natural Resources presently has an average rating of Buy and a consensus price target of $207.18.
Shares of Pioneer Natural Resources (NYSE:PXD) opened at $169.16 on Monday. Pioneer Natural Resources has a 1 year low of $125.46 and a 1 year high of $199.83. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.58 and a current ratio of 1.41. The stock has a market capitalization of $29,983.13, a PE ratio of 34.88, a price-to-earnings-growth ratio of 3.50 and a beta of 0.92.
Pioneer Natural Resources announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas development company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, March 28th. This represents a yield of 0.18%. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio is presently 1.65%.
In other news, Director Larry R. Grillot sold 200 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $159.35, for a total transaction of $31,870.00. Following the sale, the director now directly owns 7,097 shares in the company, valued at approximately $1,130,906.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $155.23, for a total value of $279,414.00. The disclosure for this sale can be found here. Insiders have sold 27,106 shares of company stock worth $4,444,339 in the last 90 days. 0.89% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in PXD. American Century Companies Inc. grew its holdings in Pioneer Natural Resources by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 2,286,903 shares of the oil and gas development company’s stock worth $337,410,000 after buying an additional 384,485 shares in the last quarter. Boston Partners grew its holdings in Pioneer Natural Resources by 51.2% in the 4th quarter. Boston Partners now owns 2,262,356 shares of the oil and gas development company’s stock worth $391,048,000 after buying an additional 766,124 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Pioneer Natural Resources by 1.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,031,598 shares of the oil and gas development company’s stock worth $299,386,000 after buying an additional 25,163 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Pioneer Natural Resources by 1.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,844,299 shares of the oil and gas development company’s stock worth $272,108,000 after buying an additional 34,109 shares in the last quarter. Finally, Swedbank grew its holdings in Pioneer Natural Resources by 31.4% in the 3rd quarter. Swedbank now owns 1,797,382 shares of the oil and gas development company’s stock worth $265,186,000 after buying an additional 429,705 shares in the last quarter. Institutional investors and hedge funds own 90.97% of the company’s stock.
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Pioneer Natural Resources Company Profile
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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