Pioneer Natural Resources (NYSE:PXD) receives an average “moderate buy” recommendation from analysts
Pioneer Natural Resources (NYSE:PXD – Get Rating) has received a consensus “moderate buy” recommendation from the twenty-one analysts who cover the company, reports MarketBeat Ratings. One research analyst rated the stock with a sell recommendation, seven gave a hold recommendation, eleven gave a buy recommendation and one gave a strong buy recommendation on the company. The 1-year average price target among analysts who have rated the stock over the past year is $287.65.
PXD has been the subject of several research reports. Credit Suisse Group cut its price target on shares of Pioneer Natural Resources from $290.00 to $280.00 and set an “outperform” rating on the stock in a Wednesday, Aug. 3 research report. Barclays cut its price target on shares of Pioneer Natural Resources from $324.00 to $309.00 and set an “overweight” rating on the stock in a Wednesday, August 31 research report. Wells Fargo & Company cut its price target on shares of Pioneer Natural Resources from $289.00 to $283.00 and set an “overweight” rating on the stock in a Monday, July 11 research report. Tudor, Pickering, Holt & Co. moved shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a Friday, August 19 research report. Finally, Mizuho cut its price target on shares of Pioneer Natural Resources from $334.00 to $316.00 and set a “buy” rating on the stock in a Thursday, August 18 research report.
Institutional entries and exits
Institutional investors and hedge funds have recently been buying and selling stocks. Selective Wealth Management Inc. acquired a new position in Pioneer Natural Resources in Q2 worth approximately $28,000. Riverview Trust Co acquired a new position in Pioneer Natural Resources in Q1 worth approximately $29,000. Atwood & Palmer Inc. acquired a new position in Pioneer Natural Resources in Q2 worth approximately $30,000. JFS Wealth Advisors LLC increased its position in Pioneer Natural Resources shares by 79.2% during the second quarter. JFS Wealth Advisors LLC now owns 138 shares of the oil and gas development company worth $31,000 after buying 61 additional shares in the last quarter. Finally, Icapital Wealth LLC acquired a new position in shares of Pioneer Natural Resources during the 1st quarter for a value of approximately $33,000. Institutional investors and hedge funds hold 89.97% of the company’s shares.
Pioneer Natural Resources Price Performance
PXD opened at $208.99 on Friday. The company has a fifty-day moving average price of $233.38 and a two-hundred-day moving average price of $242.35. The company has a debt ratio of 0.19, a quick ratio of 1.20 and a current ratio of 1.33. Pioneer Natural Resources has a 52-week low of $157.00 and a 52-week high of $288.46. The company has a market capitalization of $50.57 billion, a PE ratio of 8.64, a P/E/G ratio of 0.81 and a beta of 1.46.
Pioneer Natural Resources (NYSE:PXD – Get Rating) last reported quarterly results on Tuesday, August 2. The oil and gas development company reported earnings per share (EPS) of $9.36 for the quarter, beating the consensus estimate of $8.81 by $0.55. Pioneer Natural Resources had a net margin of 28.29% and a return on equity of 28.26%. The company posted revenue of $6.92 billion in the quarter, versus analyst estimates of $6.93 billion. In the same quarter of the previous year, the company achieved EPS of $2.55. As a group, analysts expect Pioneer Natural Resources to post earnings per share of 32.75 for the current year.
Pioneer Natural Resources increases its dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16. Shareholders of record on Tuesday, September 6 received a dividend of $8.57 per share. The ex-dividend date was Friday, September 2. This is a positive change from Pioneer Natural Resources’ previous quarterly dividend of $7.38. This represents an annualized dividend of $34.28 and a dividend yield of 16.40%. Pioneer Natural Resources’ payout ratio is currently 18.19%.
Pioneer Natural Resources Company Profile
(Get a rating)
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 petroleum, natural gas liquids (NGLs) and gas. It operates 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 held stakes in 11 gas processing plants.
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