Pioneer Natural Resources (NYSE:PXD) had its target price hoisted by Imperial Capital from $200.00 to $220.00 in a research note released on Thursday morning, MarketBeat.com reports. The firm currently has an outperform rating on the oil and gas development company’s stock.
Several other brokerages have also recently issued reports on PXD. Piper Jaffray Companies restated a buy rating and issued a $207.00 target price on shares of Pioneer Natural Resources in a report on Tuesday, January 9th. ValuEngine cut shares of Pioneer Natural Resources from a hold rating to a sell rating in a report on Sunday, December 31st. JPMorgan Chase & Co. set a $185.00 target price on shares of Pioneer Natural Resources and gave the stock a buy rating in a report on Wednesday, January 3rd. Royal Bank of Canada set a $201.00 target price on shares of Pioneer Natural Resources and gave the stock a buy rating in a report on Sunday, October 15th. Finally, Zacks Investment Research cut shares of Pioneer Natural Resources from a buy rating to a hold rating in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $207.88.
Shares of Pioneer Natural Resources (PXD) opened at $165.05 on Thursday. Pioneer Natural Resources has a fifty-two week low of $125.46 and a fifty-two week high of $199.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.58. The stock has a market cap of $28,090.00, a P/E ratio of 33.68, a P/E/G ratio of 2.98 and a beta of 0.92.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.16 per share. This represents a dividend yield of 0.18%. The ex-dividend date is Wednesday, March 28th. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 1.63%.
Pioneer Natural Resources declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas development company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, EVP Jerome D. Hall, Jr. sold 1,800 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $155.23, for a total transaction of $279,414.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Larry R. Grillot sold 200 shares of the firm’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 sale, the director now owns 7,097 shares in the company, valued at $1,130,906.95. The disclosure for this sale can be found here. Insiders have sold a total of 27,106 shares of company stock worth $4,444,339 over the last 90 days. Insiders own 0.89% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. GWM Advisors LLC bought a new stake in shares of Pioneer Natural Resources during the 2nd quarter valued at $100,000. WFG Advisors LP raised its position in shares of Pioneer Natural Resources by 10.2% during the 2nd quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock valued at $176,000 after purchasing an additional 102 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter valued at $176,000. GeoSphere Capital Management bought a new stake in shares of Pioneer Natural Resources during the 2nd quarter valued at $199,000. Finally, Shelton Capital Management bought a new stake in shares of Pioneer Natural Resources during the 2nd quarter valued at $205,000. Hedge funds and other institutional investors own 90.97% of the company’s stock.
Pioneer Natural Resources Company Profile
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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