Pioneer Natural Resources (NYSE:PXD) had its price target raised by Wells Fargo & Co from $191.00 to $200.00 in a research note released on Wednesday, The Fly reports. They currently have an outperform rating on the oil and gas development company’s stock.

PXD has been the subject of several other research reports. MKM Partners began coverage on shares of Pioneer Natural Resources in a report on Wednesday, December 5th. They issued a buy rating and a $213.00 price target for the company. Cowen began coverage on shares of Pioneer Natural Resources in a report on Thursday, November 29th. They issued an outperform rating and a $230.00 price target for the company. SunTrust Banks reissued a buy rating and issued a $215.00 price target on shares of Pioneer Natural Resources in a report on Thursday, November 29th. Morgan Stanley set a $185.00 price target on shares of Pioneer Natural Resources and gave the stock a buy rating in a report on Tuesday, January 29th. Finally, Barclays set a $190.00 price target on shares of Pioneer Natural Resources and gave the stock a buy rating in a report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $215.07.

Shares of NYSE PXD opened at $135.67 on Wednesday. The firm has a market capitalization of $22.84 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.78 and a beta of 0.98. The company has a quick ratio of 1.29, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. Pioneer Natural Resources has a one year low of $119.08 and a one year high of $213.40.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Wednesday, February 13th. The oil and gas development company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.30). The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Pioneer Natural Resources had a return on equity of 9.25% and a net margin of 10.40%. Pioneer Natural Resources’s revenue was up 75.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. Equities research analysts expect that Pioneer Natural Resources will post 7.4 earnings per share for the current year.

Pioneer Natural Resources announced that its board has initiated a share buyback program on Thursday, December 13th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the oil and gas development company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently announced a semiannual dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.32 per share. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.16. The ex-dividend date is Thursday, March 28th. This represents a dividend yield of 0.45%. Pioneer Natural Resources’s dividend payout ratio is presently 5.07%.

In other news, Director Andrew F. Cates purchased 790 shares of the stock in a transaction dated Thursday, December 27th. The shares were purchased at an average price of $124.27 per share, with a total value of $98,173.30. Following the transaction, the director now owns 13,370 shares in the company, valued at approximately $1,661,489.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy L. Dove sold 4,800 shares of the business’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $134.18, for a total transaction of $644,064.00. Following the transaction, the chief executive officer now directly owns 276,901 shares in the company, valued at approximately $37,154,576.18. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in PXD. Lindbrook Capital LLC acquired a new position in shares of Pioneer Natural Resources during the 4th quarter valued at about $31,000. Executive Wealth Management LLC acquired a new position in shares of Pioneer Natural Resources during the 4th quarter valued at about $38,000. JOYN Advisors Inc. lifted its position in Pioneer Natural Resources by 73.8% in the fourth quarter. JOYN Advisors Inc. now owns 358 shares of the oil and gas development company’s stock valued at $47,000 after buying an additional 152 shares during the last quarter. Captrust Financial Advisors lifted its position in Pioneer Natural Resources by 72.0% in the fourth quarter. Captrust Financial Advisors now owns 363 shares of the oil and gas development company’s stock valued at $48,000 after buying an additional 152 shares during the last quarter. Finally, We Are One Seven LLC acquired a new position in Pioneer Natural Resources in the fourth quarter valued at about $58,000. 87.26% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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