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

Pioneer Natural Resources (NYSE:PXD - Get Free Report) has been assigned an average rating of "Hold" from the twenty brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $259.95.

PXD has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a "hold" rating for the company in a research report on Tuesday, January 23rd. Truist Financial raised their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a "hold" rating in a report on Friday, April 5th. Susquehanna raised their target price on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a "neutral" rating in a report on Monday, March 4th. StockNews.com initiated coverage on shares of Pioneer Natural Resources in a report on Sunday. They issued a "hold" rating for the company. Finally, Mizuho raised their target price on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a "neutral" rating in a report on Tuesday, March 19th.

Pioneer Natural Resources Price Performance

Shares of NYSE PXD traded up $2.34 during midday trading on Friday, reaching $270.31. The stock had a trading volume of 2,900,079 shares, compared to its average volume of 1,359,799. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. The stock has a 50-day moving average of $250.68 and a 200-day moving average of $238.49. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. The company has a market capitalization of $63.15 billion, a price-to-earnings ratio of 13.36 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD - Get Free Report) last issued its 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). Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the company posted $5.91 EPS. Pioneer Natural Resources's revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Pioneer Natural Resources will post 21.5 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were given a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources's dividend payout ratio (DPR) is 24.70%.

Insider Buying and Selling at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of the firm's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the transaction, the director now owns 11,132 shares of the company's stock, valued at approximately $2,906,787.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Phillip A. Gobe sold 2,000 shares of the firm's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the sale, the director now directly owns 11,132 shares in the company, valued at approximately $2,906,787.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher L. Washburn sold 1,416 shares of the firm's stock in a transaction dated 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 sale, the chief accounting officer now owns 4,990 shares in the company, valued at $1,302,140.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,766 shares of company stock valued at $9,067,373. Company insiders own 0.57% of the company's stock.

Institutional Trading of Pioneer Natural Resources

Institutional investors have recently bought and sold shares of the stock. Dai ichi Life Insurance Company Ltd boosted its stake in Pioneer Natural Resources by 45.5% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 21,079 shares of the oil and gas development company's stock worth $4,839,000 after purchasing an additional 6,589 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Pioneer Natural Resources by 610.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company's stock worth $141,965,000 after purchasing an additional 531,418 shares in the last quarter. Banco Santander S.A. boosted its stake in Pioneer Natural Resources by 7.1% in the 3rd quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company's stock worth $11,847,000 after purchasing an additional 3,438 shares in the last quarter. SCP Investment LP boosted its stake in Pioneer Natural Resources by 80.0% in the 3rd quarter. SCP Investment LP now owns 1,800 shares of the oil and gas development company's stock worth $413,000 after purchasing an additional 800 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Pioneer Natural Resources by 34.2% in the 3rd quarter. William Blair Investment Management LLC now owns 440,522 shares of the oil and gas development company's stock worth $101,122,000 after purchasing an additional 112,261 shares in the last quarter. 80.57% of the stock is currently 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.