Pioneer Natural Resources (NYSE:PXD) declared a semiannual dividend on Wednesday, February 7th, Wall Street Journal reports. Investors of record on Thursday, March 29th will be paid a dividend of 0.16 per share by the oil and gas development company on Thursday, April 12th. This represents a yield of 0.18%. The ex-dividend date is Wednesday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04.
Pioneer Natural Resources has a dividend payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pioneer Natural Resources to earn $4.19 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 1.9%.
Shares of Pioneer Natural Resources (PXD) traded up $2.25 during mid-day trading on Wednesday, reaching $176.20. 3,629,223 shares of the company traded hands, compared to its average volume of 1,680,000. Pioneer Natural Resources has a 1 year low of $125.46 and a 1 year high of $199.83. The company has a quick ratio of 1.58, a current ratio of 1.69 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $29,980.00, a price-to-earnings ratio of 241.37, a price-to-earnings-growth ratio of 3.79 and a beta of 0.92.
Pioneer Natural Resources declared that its Board of Directors has approved a stock repurchase program 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 buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other news, EVP Mark Stephen Berg sold 2,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $154.47, for a total value of $308,940.00. Following the completion of the transaction, the executive vice president now directly owns 48,719 shares in the company, valued at $7,525,623.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry R. Grillot sold 200 shares of the company’s stock in a transaction on 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 transaction, the director now owns 7,097 shares of the company’s stock, valued at $1,130,906.95. The disclosure for this sale can be found here. Insiders sold 39,666 shares of company stock valued at $6,464,889 over the last 90 days. Insiders own 0.89% of the company’s stock.
Several equities analysts recently commented on PXD shares. Mizuho reaffirmed a “buy” rating and set a $196.00 price target on shares of Pioneer Natural Resources in a research report on Friday, November 3rd. Jefferies Group upped their price target on shares of Pioneer Natural Resources from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. KeyCorp set a $180.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Saturday, October 21st. Zacks Investment Research raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a research report on Wednesday, October 11th. Finally, BMO Capital Markets set a $200.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-five have given a buy rating to the stock. Pioneer Natural Resources has a consensus rating of “Buy” and an average target price of $203.25.
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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.
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