Trading Report: The Pioneer Natural Resources Co. (PXD) Receives Consensus Rating of “Buy” from Analysts

The Pioneer Natural Resources Co. (PXD) Receives Consensus Rating of “Buy” from Analysts

Pioneer Natural Resources Co. (NYSE:PXD) has earned a consensus rating of “Buy” from the thirty-nine analysts that are currently covering the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $185.67.

Several analysts recently weighed in on 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. Wells Fargo & Co. restated a “buy” rating on shares of Pioneer Natural Resources in a research report on Thursday, June 16th. Canaccord Genuity boosted their price target on shares of Pioneer Natural Resources from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 16th. Zacks Investment Research downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Finally, Credit Agricole SA began coverage on shares of Pioneer Natural Resources in a research report on Wednesday, June 22nd. They set a “buy” rating on the stock.

Shares of Pioneer Natural Resources (NYSE:PXD) traded down 0.42% during mid-day trading on Wednesday, reaching $191.65. 574,892 shares of the company were exchanged. Pioneer Natural Resources has a 12 month low of $103.50 and a 12 month high of $193.39. The firm’s market capitalization is $32.51 billion. The company’s 50 day moving average price is $181.88 and its 200 day moving average price is $164.05.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Wednesday, July 27th. The oil and gas development company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ 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%. Pioneer Natural Resources’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. Equities analysts anticipate that Pioneer Natural Resources will post ($0.25) earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.08%. The ex-dividend date is Wednesday, September 28th. Pioneer Natural Resources’s payout ratio is currently -2.52%.

In other Pioneer Natural Resources news, Director Frank A. Risch sold 500 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $185.08, for a total value of $92,540.00. Following the sale, the director now owns 11,156 shares of the company’s stock, valued at approximately $2,064,752.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Kenneth Thompson sold 750 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $171.51, for a total transaction of $128,632.50. Following the completion of the sale, the director now directly owns 9,453 shares in the company, valued at approximately $1,621,284.03. 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 made changes to their positions in PXD. Wellington Management Group LLP raised its stake in shares of 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. Vanguard Group Inc. raised its stake in shares of Pioneer Natural Resources by 1.7% in the second quarter. Vanguard Group Inc. now owns 10,623,670 shares of the oil and gas development company’s stock valued at $1,606,405,000 after buying an additional 179,902 shares during the period. State Street Corp raised its stake in shares of Pioneer Natural Resources by 1.2% in the second quarter. State Street Corp now owns 9,838,805 shares of the oil and gas development company’s stock valued at $1,487,727,000 after buying an additional 121,182 shares during the period. FMR LLC raised its stake in shares of 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. Finally, Capital Research Global Investors raised its stake in shares of Pioneer Natural Resources by 17.7% in the second quarter. Capital Research Global Investors now owns 5,202,000 shares of the oil and gas development company’s stock valued at $786,594,000 after buying an additional 783,000 shares during the period. 93.62% of the stock is currently owned by hedge funds and other institutional investors.

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