Pioneer Natural Resources (PXD) Sees Large Volume Increase
Pioneer Natural Resources (NYSE:PXD) saw an uptick in trading volume on Monday . 130,578 shares traded hands during mid-day trading, a decline of 93% from the previous session’s volume of 1,763,949 shares.The stock last traded at $169.05 and had previously closed at $168.32.
Several research firms have recently weighed in on PXD. Barclays reiterated a “buy” rating and issued a $217.00 target price on shares of Pioneer Natural Resources in a research note on Wednesday, April 10th. Macquarie upgraded shares of Pioneer Natural Resources from a “neutral” rating to an “outperform” rating and set a $168.32 target price for the company in a research note on Monday. Wells Fargo & Co raised their price objective on shares of Pioneer Natural Resources from $191.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Mizuho lowered shares of Pioneer Natural Resources from a “buy” rating to a “neutral” rating and cut their price objective for the company from $206.00 to $158.00 in a research report on Tuesday, March 19th. Finally, MKM Partners set a $189.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Friday, February 15th. Six 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 company’s stock. Pioneer Natural Resources presently has an average rating of “Buy” and an average target price of $210.91.
The stock has a market cap of $25.43 billion, a PE ratio of 26.59, a P/E/G ratio of 1.94 and a beta of 0.99. The company has a current ratio of 1.42, a quick ratio of 1.29 and a debt-to-equity ratio of 0.19.
The firm also recently disclosed a semiannual dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a $0.32 dividend. This represents a dividend yield of 0.45%. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.16. The ex-dividend date was Thursday, March 28th. Pioneer Natural Resources’s payout ratio is presently 10.14%.
Several institutional investors and hedge funds have recently made changes to their positions in PXD. Norges Bank bought a new stake in shares of Pioneer Natural Resources in the 4th quarter worth approximately $207,894,000. Baupost Group LLC MA lifted its holdings in shares of Pioneer Natural Resources by 12.5% in the 4th quarter. Baupost Group LLC MA now owns 4,500,000 shares of the oil and gas development company’s stock worth $591,840,000 after acquiring an additional 500,000 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Pioneer Natural Resources by 127.2% in the 4th quarter. Deutsche Bank AG now owns 812,422 shares of the oil and gas development company’s stock worth $106,841,000 after acquiring an additional 454,920 shares during the last quarter. Abrams Bison Investments LLC bought a new stake in shares of Pioneer Natural Resources in the 4th quarter worth approximately $49,583,000. Finally, Clearbridge Investments LLC lifted its holdings in shares of Pioneer Natural Resources by 10.4% in the 3rd quarter. Clearbridge Investments LLC now owns 3,069,833 shares of the oil and gas development company’s stock worth $534,734,000 after acquiring an additional 290,320 shares during the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.
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About Pioneer Natural Resources (NYSE:PXD)
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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