Pioneer Natural Resources (NYSE:PXD) Given New $275.00 Price Target at Stifel Nicolaus

Pioneer Natural Resources (NYSE:PXD) had its target price boosted by Stifel Nicolaus from $237.00 to $275.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a hold rating on the oil and gas development company’s stock.

Several other research firms have also recently weighed in on PXD. Royal Bank of Canada restated a sector perform rating and set a $279.00 price target on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Mizuho lifted their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a neutral rating in a research note on Tuesday, March 19th. Truist Financial lifted their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a hold rating in a research note on Friday, April 5th. StockNews.com started coverage on Pioneer Natural Resources in a research note on Sunday. They issued a hold rating on the stock. Finally, Susquehanna lifted their price objective on Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a neutral rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $264.10.

Pioneer Natural Resources Stock Performance

Pioneer Natural Resources stock opened at $275.12 on Tuesday. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $252.53 and its two-hundred day moving average price is $239.17. The stock has a market cap of $64.27 billion, a PE ratio of 13.59 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.91 earnings per share. As a group, analysts expect that Pioneer Natural Resources will post 21.5 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were given a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s payout ratio is 24.70%.

Insider Transactions at Pioneer Natural Resources

In other news, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the transaction, the executive vice president now directly owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Scott D. Sheffield sold 10,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the sale, the director now owns 462,112 shares in the company, valued at $108,711,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock valued at $9,067,373 over the last ninety days. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pioneer Natural Resources

Several institutional investors have recently bought and sold shares of PXD. Hartford Financial Management Inc. grew its holdings in Pioneer Natural Resources by 61.1% during the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after buying an additional 44 shares in the last quarter. Sachetta LLC bought a new stake in Pioneer Natural Resources during the fourth quarter worth $27,000. BluePath Capital Management LLC bought a new stake in Pioneer Natural Resources during the third quarter worth $29,000. Carmel Capital Partners LLC bought a new stake in Pioneer Natural Resources during the third quarter worth $34,000. Finally, Jones Financial Companies Lllp grew its stake in Pioneer Natural Resources by 85.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock valued at $34,000 after purchasing an additional 68 shares during the period. Institutional investors own 80.57% 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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.