StockNews.com Initiates Coverage on Pioneer Natural Resources (NYSE:PXD)

Research analysts at StockNews.com assumed coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a report released on Tuesday. The brokerage set a “hold” rating on the oil and gas development company’s stock.

A number of other research firms have also issued reports on PXD. Stifel Nicolaus boosted their target price on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Mizuho raised their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Susquehanna boosted their price target on Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Truist Financial increased their price target 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. Finally, Scotiabank lifted their price objective on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $264.10.

Pioneer Natural Resources Price Performance

NYSE:PXD opened at $269.62 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $260.37 and a 200-day moving average of $240.89. The firm has a market capitalization of $63.00 billion, a PE ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a 52 week low of $196.74 and a 52 week high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company 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 21.21% and a net margin of 24.28%. Pioneer Natural Resources’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.91 earnings per share. Analysts predict that Pioneer Natural Resources will post 22.07 EPS for the current year.

Insider Buying and Selling at Pioneer Natural Resources

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

Institutional Investors Weigh In On Pioneer Natural Resources

A number of institutional investors have recently modified their holdings of PXD. Hartford Financial Management Inc. lifted its position in shares of Pioneer Natural Resources by 61.1% in 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 during the last quarter. Sachetta LLC acquired a new position in Pioneer Natural Resources in the 4th quarter valued at approximately $27,000. DecisionPoint Financial LLC lifted its position in shares of Pioneer Natural Resources by 114.6% in the 1st quarter. DecisionPoint Financial LLC now owns 103 shares of the oil and gas development company’s stock worth $28,000 after acquiring an additional 55 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of Pioneer Natural Resources during the 3rd quarter worth approximately $29,000. Finally, Carmel Capital Partners LLC bought a new stake in shares of Pioneer Natural Resources during the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.57% of the company’s stock.

Pioneer Natural Resources Company Profile

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.