Pioneer Natural Resources - PXD Stock Forecast, Price & News

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. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Scotiabank cut Pioneer Natural Resources from an "outperform" rating to a "sector perform" rating and increased their price objective for the stock from $260.00 to $270.00 in a research report on Monday, April 18th. Morgan Stanley reduced their price objective on shares of Pioneer Natural Resources from $285.00 to $274.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 19th. Wells Fargo & Company lowered their target price on shares of Pioneer Natural Resources from $289.00 to $283.00 and set an "overweight" rating on the stock in a research report on Monday, July 11th. Truist Financial reduced their price target on shares of Pioneer Natural Resources from $281.00 to $247.00 and set a "hold" rating for the company in a research report on Tuesday, July 19th. Finally, Mizuho lowered their price target on Pioneer Natural Resources from $342.00 to $334.00 and set a "buy" rating on the stock in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $288.35.

Pioneer Natural Resources Stock Up 0.5 %

Shares of NYSE:PXD opened at $218.19 on Wednesday. The firm's 50 day moving average price is $232.44 and its 200 day moving average price is $239.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.20 and a current ratio of 1.33. The firm has a market cap of $52.79 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 0.76 and a beta of 1.51. Pioneer Natural Resources has a 1 year low of $137.54 and a 1 year high of $288.46.

Pioneer Natural Resources (NYSE:PXD - Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The oil and gas development company reported $9.36 EPS for the quarter, beating analysts' consensus estimates of $8.63 by $0.73. Pioneer Natural Resources had a return on equity of 28.26% and a net margin of 28.29%. During the same period in the prior year, the company earned $2.55 earnings per share. As a group, sell-side analysts anticipate that Pioneer Natural Resources will post 33.37 earnings per share for the current year.

Pioneer Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Tuesday, September 6th will be issued a dividend of $8.57 per share. This is a positive change from Pioneer Natural Resources's previous quarterly dividend of $7.38. This represents a $34.28 annualized dividend and a dividend yield of 15.71%. The ex-dividend date of this dividend is Friday, September 2nd. Pioneer Natural Resources's dividend payout ratio is presently 11.12%.

Insider Buying and Selling

In related news, EVP Mark Stephen Berg sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $286.90, for a total transaction of $717,250.00. Following the completion of the transaction, the executive vice president now owns 47,046 shares of the company's stock, valued at $13,497,497.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pioneer Natural Resources news, EVP Jerome D. Hall, Jr. sold 2,000 shares of the business's stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $262.19, for a total transaction of $524,380.00. Following the completion of the sale, the executive vice president now owns 53,006 shares of the company's stock, valued at $13,897,643.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Stephen Berg sold 2,500 shares of the business's stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $286.90, for a total value of $717,250.00. Following the sale, the executive vice president now directly owns 47,046 shares of the company's stock, valued at approximately $13,497,497.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,835 shares of company stock valued at $2,439,657. Insiders own 0.55% of the company's stock.