Pioneer Natural Resources (PXD) Given Consensus Rating of “Buy” by Brokerages
Shares of Pioneer Natural Resources (NYSE:PXD) have been given an average rating of “Buy” by the thirty-three ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-five have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $214.36.
A number of equities analysts have weighed in on the stock. Jefferies Group reaffirmed a “buy” rating and set a $238.00 price target on shares of Pioneer Natural Resources in a research note on Thursday, February 8th. National Alliance Securities raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research note on Monday. Imperial Capital increased their price target on shares of Pioneer Natural Resources from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Piper Jaffray Companies set a $226.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus set a $280.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday.
Pioneer Natural Resources (PXD) traded up $7.33 during trading hours on Wednesday, reaching $179.50. 1,665,853 shares of the company’s stock were exchanged, compared to its average volume of 1,890,640. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.41. The stock has a market capitalization of $30,080.00, a P/E ratio of 36.63, a P/E/G ratio of 2.90 and a beta of 0.92. Pioneer Natural Resources has a 12 month low of $125.46 and a 12 month high of $199.40.
The company also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a dividend of $0.16 per share. This represents a yield of 0.18%. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 1.63%.
Pioneer Natural Resources announced that its board has authorized a share buyback plan on Tuesday, February 6th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, CEO Timothy L. Dove sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $159.51, for a total transaction of $159,510.00. Following the completion of the sale, the chief executive officer now directly owns 259,083 shares of the company’s stock, valued at approximately $41,326,329.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mark H. Kleinman sold 2,582 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $158.37, for a total transaction of $408,911.34. Following the sale, the senior vice president now directly owns 12,861 shares of the company’s stock, valued at $2,036,796.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,306 shares of company stock valued at $4,164,925. Company insiders own 0.89% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WFG Advisors LP grew its holdings in Pioneer Natural Resources by 10.2% during the 2nd quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock valued at $176,000 after purchasing an additional 102 shares in the last quarter. Guardian Capital Advisors LP acquired a new stake in Pioneer Natural Resources during the 4th quarter valued at $215,000. Steward Partners Investment Advisory LLC acquired a new stake in Pioneer Natural Resources during the 3rd quarter valued at $176,000. Savant Capital LLC acquired a new stake in Pioneer Natural Resources during the 4th quarter valued at $208,000. Finally, Cetera Advisors LLC acquired a new stake in Pioneer Natural Resources during the 4th quarter valued at $215,000. 90.58% of the stock is owned by institutional investors and hedge funds.
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About Pioneer Natural Resources
Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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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