Piper Sandler upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a neutral rating to an overweight rating in a research report released on Friday morning, Analyst Ratings Network reports. The brokerage currently has $106.00 price objective on the oil and gas development company’s stock, down from their prior price objective of $121.00. Piper Sandler also issued estimates for Pioneer Natural Resources’ Q2 2021 earnings at $1.19 EPS.
A number of other brokerages have also weighed in on PXD. UBS Group increased their price objective on Pioneer Natural Resources from $109.00 to $173.00 and gave the company a buy rating in a report on Monday, June 29th. Raymond James raised Pioneer Natural Resources from an outperform rating to a strong-buy rating and raised their target price for the stock from $105.00 to $130.00 in a report on Monday, July 20th. Citigroup raised their target price on Pioneer Natural Resources from $118.00 to $130.00 and gave the stock a buy rating in a report on Monday, August 17th. Wells Fargo & Company raised their target price on Pioneer Natural Resources from $122.00 to $134.00 and gave the stock an overweight rating in a report on Thursday, August 13th. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $106.00 target price on shares of Pioneer Natural Resources in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Pioneer Natural Resources has a consensus rating of Buy and an average price target of $127.09.
Shares of PXD stock opened at $82.80 on Friday. The stock’s 50-day simple moving average is $89.72 and its 200-day simple moving average is $93.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.65 and a current ratio of 0.75. The firm has a market capitalization of $13.60 billion, a PE ratio of 32.86, a P/E/G ratio of 6.28 and a beta of 1.84. Pioneer Natural Resources has a fifty-two week low of $48.62 and a fifty-two week high of $159.01.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas development company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. The business had revenue of $859.00 million for the quarter, compared to analyst estimates of $1.37 billion. Pioneer Natural Resources had a return on equity of 7.20% and a net margin of 5.26%. The company’s revenue was down 55.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.01 earnings per share. Sell-side analysts forecast that Pioneer Natural Resources will post 1.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $2.20 annualized dividend and a dividend yield of 2.66%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 26.89%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Pioneer Natural Resources by 7.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 359,587 shares of the oil and gas development company’s stock valued at $35,137,000 after purchasing an additional 25,323 shares during the last quarter. CWM Advisors LLC increased its holdings in shares of Pioneer Natural Resources by 15.8% in the second quarter. CWM Advisors LLC now owns 10,454 shares of the oil and gas development company’s stock valued at $1,021,000 after purchasing an additional 1,424 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of Pioneer Natural Resources in the first quarter valued at approximately $1,794,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Pioneer Natural Resources by 0.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 26,718 shares of the oil and gas development company’s stock valued at $2,536,000 after purchasing an additional 142 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Pioneer Natural Resources in the first quarter valued at approximately $584,000. Institutional investors and hedge funds own 90.11% of the company’s stock.
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. As of December 31, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil, 16 million barrels of NGLs, and 83 billion cubic feet of gas; and owned interests in 11 gas processing plants.
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