Pioneer Natural Resources (PXD) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a sell rating to a hold rating in a research note published on Saturday, ValuEngine reports.

Other equities research analysts also recently issued reports about the company. Morgan Stanley set a $185.00 price objective on Pioneer Natural Resources and gave the stock a buy rating in a report on Tuesday, January 29th. Raymond James set a $250.00 price objective on Pioneer Natural Resources and gave the stock a buy rating in a report on Wednesday, January 23rd. Barclays set a $190.00 price objective on Pioneer Natural Resources and gave the stock a buy rating in a report on Wednesday, January 16th. Imperial Capital set a $199.00 price objective on Pioneer Natural Resources and gave the stock a buy rating in a report on Friday, February 15th. Finally, MKM Partners set a $189.00 price target on Pioneer Natural Resources and gave the company a buy rating in a report on Friday, February 15th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $210.91.

PXD stock opened at $171.24 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.29 and a debt-to-equity ratio of 0.19. Pioneer Natural Resources has a 52-week low of $119.08 and a 52-week high of $213.40. The company has a market cap 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 posted its quarterly earnings data on Wednesday, February 13th. The oil and gas development company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $1.22 earnings per share. Pioneer Natural Resources’s revenue for the quarter was up 75.4% compared to the same quarter last year. On average, equities analysts forecast that Pioneer Natural Resources will post 7.55 EPS for the current fiscal year.

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, March 28th. This represents a yield of 0.45%. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.16. Pioneer Natural Resources’s payout ratio is currently 10.14%.

A number of large investors have recently added to or reduced their stakes in the stock. Fruth Investment Management acquired a new position in Pioneer Natural Resources during the 1st quarter valued at approximately $213,000. Pennsylvania Trust Co acquired a new position in Pioneer Natural Resources during the 1st quarter valued at approximately $884,000. Hodges Capital Management Inc. acquired a new position in Pioneer Natural Resources during the 1st quarter valued at approximately $206,000. Raymond James Trust N.A. boosted its position in Pioneer Natural Resources by 53.9% during the 1st quarter. Raymond James Trust N.A. now owns 3,280 shares of the oil and gas development company’s stock valued at $499,000 after purchasing an additional 1,149 shares during the period. Finally, Cobiz Wealth LLC boosted its position in Pioneer Natural Resources by 59.4% during the 1st quarter. Cobiz Wealth LLC now owns 31,914 shares of the oil and gas development company’s stock valued at $4,816,000 after purchasing an additional 11,890 shares during the period. Institutional investors and hedge funds own 89.10% 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 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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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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