Pioneer Natural Resources (NYSE:PXD) Coverage Initiated by Analysts at Howard Weil

Howard Weil began coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a report issued on Wednesday morning, Briefing.com Automated Import reports. The firm issued a sector perform rating on the oil and gas development company’s stock.

Several other brokerages have also issued reports on PXD. Wells Fargo & Co boosted their price objective on shares of Pioneer Natural Resources from $190.00 to $191.00 and gave the company an outperform rating in a report on Friday, September 20th. Citigroup restated a buy rating on shares of Pioneer Natural Resources in a report on Tuesday, October 8th. KeyCorp boosted their price objective on shares of Pioneer Natural Resources from $168.00 to $172.00 and gave the company an overweight rating in a report on Tuesday, October 15th. Mizuho upgraded shares of Pioneer Natural Resources from a neutral rating to a buy rating and set a $191.00 price objective on the stock in a report on Thursday, October 10th. Finally, Williams Capital restated a buy rating and issued a $190.00 price objective on shares of Pioneer Natural Resources in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $187.22.

PXD traded up $1.91 on Wednesday, hitting $134.28. The company had a trading volume of 817,421 shares, compared to its average volume of 1,648,643. The firm has a market cap of $22.11 billion, a P/E ratio of 21.28, a PEG ratio of 0.98 and a beta of 1.14. Pioneer Natural Resources has a 1 year low of $114.79 and a 1 year high of $178.22. The company’s fifty day moving average price is $128.75 and its 200 day moving average price is $137.24. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Monday, November 4th. The oil and gas development company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.03). The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Pioneer Natural Resources had a net margin of 7.88% and a return on equity of 9.86%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 earnings per share. On average, analysts predict that Pioneer Natural Resources will post 8.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Monday, December 30th. Pioneer Natural Resources’s dividend payout ratio is currently 13.95%.

In related news, Director J Kenneth Thompson acquired 500 shares of the stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $121.01 per share, with a total value of $60,505.00. Following the completion of the transaction, the director now owns 13,024 shares in the company, valued at approximately $1,576,034.24. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Chris J. Cheatwood sold 5,619 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $140.35, for a total value of $788,626.65. Following the transaction, the executive vice president now directly owns 39,027 shares of the company’s stock, valued at $5,477,439.45. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Pioneer Natural Resources by 0.8% during the second quarter. Vanguard Group Inc. now owns 13,359,563 shares of the oil and gas development company’s stock worth $2,055,502,000 after buying an additional 110,334 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Pioneer Natural Resources by 35.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 11,623,503 shares of the oil and gas development company’s stock worth $1,788,392,000 after buying an additional 3,032,727 shares in the last quarter. BlackRock Inc. grew its position in shares of Pioneer Natural Resources by 9.6% during the second quarter. BlackRock Inc. now owns 11,490,193 shares of the oil and gas development company’s stock worth $1,767,880,000 after buying an additional 1,008,677 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Pioneer Natural Resources by 203.6% during the second quarter. Primecap Management Co. CA now owns 4,150,495 shares of the oil and gas development company’s stock worth $638,595,000 after buying an additional 2,783,199 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Pioneer Natural Resources by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,987,197 shares of the oil and gas development company’s stock worth $375,700,000 after buying an additional 119,852 shares in the last quarter. 87.59% of the stock is owned by institutional investors and hedge funds.

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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