Pioneer Natural Resources (NYSE:PXD) had its target price hoisted by Mitsubishi UFJ Financial Group to $227.00 in a report released on Monday, February 4th, The Fly reports. The firm currently has an overweight rating on the oil and gas development company’s stock. Mitsubishi UFJ Financial Group also issued estimates for Pioneer Natural Resources’ Q1 2019 earnings at $2.43 EPS, Q2 2019 earnings at $2.48 EPS, Q4 2019 earnings at $2.75 EPS, FY2019 earnings at $10.34 EPS, Q1 2020 earnings at $2.66 EPS, Q2 2020 earnings at $2.77 EPS, Q3 2020 earnings at $2.84 EPS, Q4 2020 earnings at $3.02 EPS and FY2020 earnings at $11.30 EPS.
Several other equities research analysts also recently issued reports on the stock. Seaport Global Securities downgraded shares of Pioneer Natural Resources from a buy rating to a neutral rating and lowered their price objective for the stock from $230.00 to $210.00 in a research note on Wednesday, October 10th. MKM Partners began coverage on shares of Pioneer Natural Resources in a research note on Wednesday, December 5th. They issued a buy rating and a $213.00 price objective on the stock. Cowen began coverage on shares of Pioneer Natural Resources in a research note on Thursday, November 29th. They issued an outperform rating and a $230.00 price objective on the stock. SunTrust Banks restated a buy rating and issued a $215.00 price objective on shares of Pioneer Natural Resources in a research note on Thursday, November 29th. Finally, Morgan Stanley set a $185.00 target price on Pioneer Natural Resources and gave the stock a buy rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $215.97.
NYSE:PXD traded up $3.51 during mid-day trading on Monday, reaching $144.46. The stock had a trading volume of 1,791,440 shares, compared to its average volume of 1,790,595. Pioneer Natural Resources has a fifty-two week low of $119.08 and a fifty-two week high of $213.40. The company has a market capitalization of $24.23 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.29 and a current ratio of 1.42.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data on Wednesday, February 13th. The oil and gas development company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.30). Pioneer Natural Resources had a return on equity of 9.25% and a net margin of 10.40%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The company’s quarterly revenue was up 75.4% on a year-over-year basis. As a group, sell-side analysts forecast that Pioneer Natural Resources will post 7.38 earnings per share for the current fiscal year.
Pioneer Natural Resources declared that its board has authorized a stock buyback plan on Thursday, December 13th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas development company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a semiannual dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.32 per share. This represents a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, March 28th. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.16. Pioneer Natural Resources’s payout ratio is 5.07%.
In other Pioneer Natural Resources news, CEO Timothy L. Dove sold 4,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $134.18, for a total value of $644,064.00. Following the sale, the chief executive officer now owns 276,901 shares in the company, valued at approximately $37,154,576.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew F. Cates bought 790 shares of the business’s stock in a transaction on Thursday, December 27th. The stock was purchased at an average price of $124.27 per share, for a total transaction of $98,173.30. Following the purchase, the director now directly owns 13,370 shares in the company, valued at approximately $1,661,489.90. The disclosure for this purchase can be found here. Insiders own 0.92% of the company’s stock.
Several institutional investors have recently made changes to their positions in PXD. Capital International Investors acquired a new position in shares of Pioneer Natural Resources during the 3rd quarter worth approximately $783,866,000. FMR LLC increased its holdings in shares of Pioneer Natural Resources by 27.9% during the 2nd quarter. FMR LLC now owns 6,431,051 shares of the oil and gas development company’s stock worth $1,217,012,000 after acquiring an additional 1,401,626 shares during the last quarter. Baupost Group LLC MA increased its holdings in shares of Pioneer Natural Resources by 12.5% during the 4th quarter. Baupost Group LLC MA now owns 4,500,000 shares of the oil and gas development company’s stock worth $591,840,000 after acquiring an additional 500,000 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Pioneer Natural Resources by 3,019.1% during the 3rd quarter. Primecap Management Co. CA now owns 514,650 shares of the oil and gas development company’s stock worth $89,647,000 after acquiring an additional 498,150 shares during the last quarter. Finally, Abrams Bison Investments LLC acquired a new position in shares of Pioneer Natural Resources during the 4th quarter worth approximately $49,583,000. Institutional investors own 87.90% 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, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado, and the West Panhandle field in the Texas Panhandle.
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