Jefferies Group Reaffirms “Buy” Rating for Pioneer Natural Resources Co. (PXD)
Pioneer Natural Resources Co. (NYSE:PXD)‘s stock had its “buy” rating restated by Jefferies Group in a research note issued to investors on Wednesday. They currently have a $206.00 price objective on the oil and gas development company’s stock. Jefferies Group’s price target indicates a potential upside of 11.94% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. set a $190.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Monday, August 1st. KLR Group restated a “buy” rating and set a $238.00 price objective (up previously from $218.00) on shares of Pioneer Natural Resources in a research report on Sunday, July 31st. Canaccord Genuity restated a “buy” rating on shares of Pioneer Natural Resources in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a research report on Tuesday, July 5th. Finally, BMO Capital Markets restated a “buy” rating on shares of Pioneer Natural Resources in a research report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $181.63.
Pioneer Natural Resources (NYSE:PXD) opened at 184.03 on Wednesday. The stock’s market capitalization is $31.21 billion. The company has a 50-day moving average of $182.68 and a 200-day moving average of $165.74. Pioneer Natural Resources has a 1-year low of $103.50 and a 1-year high of $193.39.
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Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Wednesday, July 27th. The oil and gas development company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.12. The firm had revenue of $786 million for the quarter, compared to the consensus estimate of $797.28 million. Pioneer Natural Resources had a negative net margin of 10.75% and a negative return on equity of 1.79%. The business’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Analysts anticipate that Pioneer Natural Resources will post ($0.25) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 12th. Investors of record on Friday, September 30th were issued a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.09%. Pioneer Natural Resources’s dividend payout ratio is -2.52%.
In related news, COO Timothy L. Dove sold 57,363 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $176.29, for a total transaction of $10,112,523.27. Following the completion of the sale, the chief operating officer now directly owns 289,693 shares of the company’s stock, valued at approximately $51,069,978.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Stephen Berg sold 2,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $171.53, for a total value of $343,060.00. Following the sale, the executive vice president now directly owns 49,266 shares of the company’s stock, valued at $8,450,596.98. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Pioneer Natural Resources by 16.4% in the first quarter. Wellington Management Group LLP now owns 12,461,118 shares of the oil and gas development company’s stock valued at $1,753,777,000 after buying an additional 1,752,025 shares during the period. FMR LLC boosted its stake in Pioneer Natural Resources by 24.7% in the second quarter. FMR LLC now owns 5,712,022 shares of the oil and gas development company’s stock valued at $863,716,000 after buying an additional 1,129,791 shares during the period. Lazard Asset Management LLC boosted its stake in Pioneer Natural Resources by 240.8% in the first quarter. Lazard Asset Management LLC now owns 1,542,686 shares of the oil and gas development company’s stock valued at $217,116,000 after buying an additional 1,089,989 shares during the period. Ingalls & Snyder LLC purchased a new stake in Pioneer Natural Resources during the second quarter valued at approximately $162,153,000. Finally, State Street Corp boosted its stake in Pioneer Natural Resources by 11.7% in the first quarter. State Street Corp now owns 9,717,623 shares of the oil and gas development company’s stock valued at $1,367,654,000 after buying an additional 1,017,873 shares during the period. 93.53% of the stock is owned by hedge funds and other institutional investors.
Pioneer Natural Resources Company Profile
Pioneer Natural Resources Company is an independent oil and gas exploration and production company with operations in the United States. The Company operates through the oil and gas development, exploration and production segment. The Company focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties.
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