Pioneer Natural Resources (NYSE:PXD) declared a semiannual dividend on Wednesday, February 7th, Wall Street Journal reports. Shareholders of record on Thursday, March 29th will be given a dividend of 0.16 per share by the oil and gas development company on Thursday, April 12th. This represents a yield of 0.18%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04.
Pioneer Natural Resources has a payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pioneer Natural Resources to earn $4.19 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 1.9%.
Pioneer Natural Resources (NYSE PXD) traded up $2.25 during midday trading on Wednesday, reaching $176.20. 3,629,223 shares of the company’s stock were exchanged, compared to its average volume of 1,680,000. The company has a quick ratio of 1.58, a current ratio of 1.69 and a debt-to-equity ratio of 0.22. Pioneer Natural Resources has a 12-month low of $125.46 and a 12-month high of $199.83. The company has a market cap of $29,980.00, a P/E ratio of 241.37, a price-to-earnings-growth ratio of 3.79 and a beta of 0.92.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.63. Pioneer Natural Resources had a net margin of 2.17% and a return on equity of 2.34%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm posted $0.49 EPS. The company’s revenue for the quarter was up 48.4% on a year-over-year basis. research analysts predict that Pioneer Natural Resources will post 1.69 EPS for the current fiscal year.
Pioneer Natural Resources declared that its board has initiated a share buyback program on Tuesday, February 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In related news, CFO Richard P. Dealy sold 5,523 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $164.23, for a total value of $907,042.29. Following the sale, the chief financial officer now owns 76,297 shares of the company’s stock, valued at approximately $12,530,256.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy L. Dove sold 5,560 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $160.66, for a total transaction of $893,269.60. Following the transaction, the chief executive officer now directly owns 260,083 shares in the company, valued at approximately $41,784,934.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,666 shares of company stock worth $6,464,889. Corporate insiders own 0.89% of the company’s stock.
A number of research firms have recently issued reports on PXD. Cowen set a $225.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Thursday, January 18th. SunTrust Banks downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Tuesday. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a research report on Wednesday, October 11th. B. Riley began coverage on shares of Pioneer Natural Resources in a research report on Monday. They issued a “buy” rating and a $305.00 price target on the stock. Finally, Barclays raised their price target on shares of Pioneer Natural Resources from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $203.25.
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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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