Pioneer Natural Resources (NYSE:PXD) Given New $220.00 Price Target at MKM Partners


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Pioneer Natural Resources (NYSE:PXD) had its price objective boosted by MKM Partners from $207.00 to $220.00 in a research note released on Monday, The Fly reports.

A number of other research analysts also recently issued reports on PXD. KeyCorp upped their price objective on Pioneer Natural Resources from $168.00 to $178.00 and gave the company an overweight rating in a research note on Tuesday, March 23rd. Citigroup increased their price target on Pioneer Natural Resources from $154.00 to $196.00 in a research note on Tuesday, March 23rd. JPMorgan Chase & Co. increased their price target on Pioneer Natural Resources from $119.00 to $142.00 in a research note on Monday, January 11th. Credit Suisse Group increased their price target on Pioneer Natural Resources from $172.00 to $195.00 and gave the stock an outperform rating in a research note on Monday. Finally, TD Securities increased their price target on Pioneer Natural Resources from $150.00 to $175.00 and gave the stock a buy rating in a research note on Tuesday, March 2nd. Five analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Pioneer Natural Resources presently has an average rating of Buy and an average price target of $169.33.

Shares of NYSE:PXD opened at $153.53 on Monday. The company has a market capitalization of $33.25 billion, a PE ratio of 150.52, a price-to-earnings-growth ratio of 2.72 and a beta of 1.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.32. The business has a fifty day moving average price of $156.09 and a two-hundred day moving average price of $118.49. Pioneer Natural Resources has a 1 year low of $67.00 and a 1 year high of $169.49.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Monday, February 22nd. The oil and gas development company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.37. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.75 billion. Pioneer Natural Resources had a return on equity of 4.67% and a net margin of 2.30%. The business’s revenue for the quarter was down 30.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.36 EPS. Sell-side analysts anticipate that Pioneer Natural Resources will post 1.59 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, March 30th. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 27.38%.

In related news, CEO Scott D. Sheffield sold 29,882 shares of the firm’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $162.73, for a total transaction of $4,862,697.86. Following the transaction, the chief executive officer now directly owns 456,949 shares in the company, valued at approximately $74,359,310.77. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Richard P. Dealy sold 9,890 shares of the firm’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $163.24, for a total value of $1,614,443.60. Following the transaction, the chief operating officer now owns 137,506 shares in the company, valued at $22,446,479.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,338 shares of company stock worth $8,536,408. 0.91% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vantage Consulting Group Inc bought a new position in Pioneer Natural Resources during the 4th quarter worth approximately $26,000. Childress Capital Advisors LLC bought a new position in Pioneer Natural Resources during the 4th quarter worth approximately $28,000. Fieldpoint Private Securities LLC bought a new position in Pioneer Natural Resources during the 4th quarter worth approximately $46,000. Sage Private Wealth Group LLC bought a new position in Pioneer Natural Resources during the 4th quarter worth approximately $47,000. Finally, International Assets Investment Management LLC bought a new position in Pioneer Natural Resources during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 89.92% 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. As of December 31, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil, 16 million barrels of NGLs, and 83 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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