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.

Analysts Set New Price Targets

PXD has been the subject of several research reports. Royal Bank of Canada downgraded shares of Pioneer Natural Resources from an "outperform" rating to a "sector perform" rating and set a $290.00 price objective for the company. in a research report on Wednesday, July 6th. Piper Sandler reduced their target price on shares of Pioneer Natural Resources from $345.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, July 22nd. Susquehanna increased their target price on shares of Pioneer Natural Resources from $258.00 to $278.00 and gave the stock a "positive" rating in a report on Monday, April 25th. Morgan Stanley reduced their target price on shares of Pioneer Natural Resources from $285.00 to $274.00 and set an "equal weight" rating for the company in a report on Tuesday, July 19th. Finally, Truist Financial reduced their target price on shares of Pioneer Natural Resources from $281.00 to $247.00 and set a "hold" rating for the company in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Pioneer Natural Resources currently has an average rating of "Moderate Buy" and an average target price of $288.35.

Pioneer Natural Resources Price Performance

Shares of PXD traded up $1.69 during mid-day trading on Tuesday, reaching $231.63. The company had a trading volume of 4,440 shares, compared to its average volume of 2,253,720. The company's 50 day simple moving average is $228.40 and its 200 day simple moving average is $239.86. Pioneer Natural Resources has a 1-year low of $137.54 and a 1-year high of $288.46. 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 company has a market capitalization of $56.05 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 0.80 and a beta of 1.51.

Pioneer Natural Resources (NYSE:PXD - Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The oil and gas development company reported $9.36 earnings per share for the quarter, beating analysts' consensus estimates of $8.63 by $0.73. Pioneer Natural Resources had a net margin of 28.29% and a return on equity of 28.26%. During the same period in the prior year, the company posted $2.55 EPS. Analysts expect that Pioneer Natural Resources will post 33.87 EPS for the current year.

Pioneer Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Tuesday, September 6th will be given a dividend of $8.57 per share. The ex-dividend date is Friday, September 2nd. This is an increase from Pioneer Natural Resources's previous quarterly dividend of $7.38. This represents a $34.28 annualized dividend and a yield of 14.80%. Pioneer Natural Resources's dividend payout ratio (DPR) is currently 11.12%.

Insider Buying and Selling

In other news, EVP Mark Stephen Berg sold 2,500 shares of the business'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 value of $717,250.00. Following the transaction, the executive vice president now owns 47,046 shares in the company, valued at approximately $13,497,497.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Tyson L. Taylor sold 1,835 shares of the business's stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $279.02, for a total value of $512,001.70. Following the transaction, the senior vice president now directly owns 4,876 shares of the company's stock, valued at approximately $1,360,501.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Stephen Berg sold 2,500 shares of the company'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 owns 47,046 shares in the company, valued at $13,497,497.40. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.