Pioneer Natural Resources (NYSE:PXD) Receives $259.95 Consensus Target Price from Brokerages

Shares of Pioneer Natural Resources (NYSE:PXD) have earned a consensus recommendation of “Hold” from the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $264.10.

A number of equities analysts have weighed in on PXD shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $279.00 price target on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Scotiabank raised their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. StockNews.com assumed coverage on shares of Pioneer Natural Resources in a research note on Sunday, April 21st. They issued a “hold” rating on the stock. Stifel Nicolaus raised their target price on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Truist Financial raised their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research note on Friday, April 5th.

Pioneer Natural Resources Stock Performance

NYSE:PXD opened at $275.15 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The company has a market cap of $64.28 billion, a P/E ratio of 13.59 and a beta of 1.31. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83. The firm’s 50 day moving average is $254.41 and its two-hundred day moving average is $239.67.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.91 EPS. Analysts expect that Pioneer Natural Resources will post 22.11 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were issued a dividend of $2.56 per share. This represents a $10.24 annualized dividend and a yield of 3.72%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Insiders Place Their Bets

In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value of $369,505.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the transaction, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock valued at $9,067,373 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PXD. Dynamic Advisor Solutions LLC boosted its stake in Pioneer Natural Resources by 40.9% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 2,296 shares of the oil and gas development company’s stock valued at $527,000 after purchasing an additional 666 shares during the period. Geneos Wealth Management Inc. boosted its stake in Pioneer Natural Resources by 5.2% during the 3rd quarter. Geneos Wealth Management Inc. now owns 1,622 shares of the oil and gas development company’s stock valued at $372,000 after purchasing an additional 80 shares during the period. IFP Advisors Inc boosted its stake in Pioneer Natural Resources by 3.1% during the 3rd quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock valued at $330,000 after purchasing an additional 43 shares during the period. HB Wealth Management LLC boosted its stake in Pioneer Natural Resources by 35.0% during the 3rd quarter. HB Wealth Management LLC now owns 2,929 shares of the oil and gas development company’s stock valued at $672,000 after purchasing an additional 759 shares during the period. Finally, Summit Global Investments boosted its stake in Pioneer Natural Resources by 39.7% during the 3rd quarter. Summit Global Investments now owns 3,313 shares of the oil and gas development company’s stock valued at $760,000 after purchasing an additional 941 shares during the period. 80.57% of the stock is owned by institutional investors and hedge funds.

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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.