Pioneer Natural Resources (PXD) Sees Unusually-High Trading Volume

Pioneer Natural Resources (NYSE:PXD) shares saw an uptick in trading volume on Monday . 130,578 shares changed hands during trading, a decline of 93% from the previous session’s volume of 1,763,949 shares.The stock last traded at $169.05 and had previously closed at $168.32.

A number of research firms have recently commented on PXD. Goldman Sachs Group downgraded Pioneer Natural Resources to a “buy” rating in a report on Friday, April 12th. ValuEngine upgraded Pioneer Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday. Macquarie upgraded Pioneer Natural Resources from a “neutral” rating to an “outperform” rating and set a $168.32 price objective for the company in a report on Monday. Citigroup began coverage on Pioneer Natural Resources in a report on Tuesday, April 9th. They set a “buy” rating for the company. Finally, Barclays restated a “buy” rating and set a $217.00 price objective on shares of Pioneer Natural Resources in a report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $210.91.

The company has a current ratio of 1.42, a quick ratio of 1.29 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $28.36 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 2.17 and a beta of 0.99.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Wednesday, February 13th. The oil and gas development company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.30). Pioneer Natural Resources had a return on equity of 9.25% and a net margin of 10.40%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the company posted $1.22 earnings per share. The firm’s revenue for the quarter was up 75.4% on a year-over-year basis. As a group, analysts predict that Pioneer Natural Resources will post 7.55 EPS for the current year.

The firm also recently declared a semiannual dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.32 per share. This represents a yield of 0.45%. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 28th. Pioneer Natural Resources’s dividend payout ratio is 10.14%.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Pioneer Natural Resources by 0.7% in the 4th quarter. BlackRock Inc. now owns 11,006,161 shares of the oil and gas development company’s stock valued at $1,447,530,000 after buying an additional 79,316 shares during the last quarter. Baupost Group LLC MA boosted its position in Pioneer Natural Resources by 12.5% in the 4th quarter. Baupost Group LLC MA now owns 4,500,000 shares of the oil and gas development company’s stock valued at $591,840,000 after buying an additional 500,000 shares during the last quarter. Clearbridge Investments LLC boosted its position in Pioneer Natural Resources by 10.4% in the 3rd quarter. Clearbridge Investments LLC now owns 3,069,833 shares of the oil and gas development company’s stock valued at $534,734,000 after buying an additional 290,320 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Pioneer Natural Resources by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,395,793 shares of the oil and gas development company’s stock valued at $417,324,000 after buying an additional 35,750 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Pioneer Natural Resources by 2.9% in the 4th quarter. Northern Trust Corp now owns 2,049,192 shares of the oil and gas development company’s stock valued at $269,510,000 after buying an additional 57,774 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

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About Pioneer Natural Resources (NYSE:PXD)

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 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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