Pioneer Natural Resources (PXD) Receives $214.36 Average PT from Analysts

Pioneer Natural Resources (NYSE:PXD) has been assigned a consensus recommendation of “Buy” from the thirty-two research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $212.88.

Several research firms have recently issued reports on PXD. Cowen set a $225.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Thursday, January 18th. SunTrust Banks lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a report on Tuesday, February 6th. Piper Jaffray Companies set a $226.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Friday, February 9th. B. Riley began coverage on shares of Pioneer Natural Resources in a report on Monday, February 5th. They issued a “buy” rating and a $305.00 target price for the company. Finally, TheStreet upgraded shares of Pioneer Natural Resources from a “c” rating to a “b” rating in a report on Tuesday, February 6th.

In related news, Director Larry R. Grillot sold 200 shares of Pioneer Natural Resources stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $159.35, for a total transaction of $31,870.00. Following the completion of the sale, the director now owns 7,097 shares in the company, valued at approximately $1,130,906.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark H. Kleinman sold 2,582 shares of Pioneer Natural Resources stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $158.37, for a total transaction of $408,911.34. Following the sale, the senior vice president now owns 12,861 shares of the company’s stock, valued at approximately $2,036,796.57. The disclosure for this sale can be found here. Insiders have sold a total of 27,306 shares of company stock valued at $4,506,785 in the last quarter. 0.89% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Pioneer Natural Resources by 11.4% in the 4th quarter. BlackRock Inc. now owns 13,552,443 shares of the oil and gas development company’s stock valued at $2,342,540,000 after purchasing an additional 1,389,479 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Pioneer Natural Resources by 7.3% in the 4th quarter. Clearbridge Investments LLC now owns 2,883,327 shares of the oil and gas development company’s stock valued at $498,383,000 after purchasing an additional 195,828 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Pioneer Natural Resources by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,683,875 shares of the oil and gas development company’s stock valued at $463,908,000 after purchasing an additional 329,971 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Pioneer Natural Resources by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 2,286,903 shares of the oil and gas development company’s stock valued at $337,410,000 after purchasing an additional 384,485 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Pioneer Natural Resources by 51.2% in the 4th quarter. Boston Partners now owns 2,262,356 shares of the oil and gas development company’s stock valued at $391,048,000 after purchasing an additional 766,124 shares in the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.

Shares of Pioneer Natural Resources (NYSE:PXD) traded down $0.80 during trading hours on Wednesday, hitting $178.79. 1,208,689 shares of the company’s stock were exchanged, compared to its average volume of 1,976,519. Pioneer Natural Resources has a 1-year low of $125.46 and a 1-year high of $198.65. The stock has a market cap of $30,559.98, a PE ratio of 36.86, a P/E/G ratio of 2.92 and a beta of 0.92. The company has a quick ratio of 1.31, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.63. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company posted $0.49 EPS. The business’s revenue was up 48.4% on a year-over-year basis. equities research analysts forecast that Pioneer Natural Resources will post 5.69 earnings per share for the current year.

Pioneer Natural Resources announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas development company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a dividend of $0.16 per share. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a yield of 0.18%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 1.65%.

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About Pioneer Natural Resources

Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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.

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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