Pioneer Natural Resources (NYSE:PXD) – Equities researchers at KeyCorp cut their Q1 2018 earnings estimates for shares of Pioneer Natural Resources in a research note issued to investors on Wednesday. KeyCorp analyst D. Deckelbaum now anticipates that the oil and gas development company will post earnings per share of $1.47 for the quarter, down from their prior estimate of $1.48. KeyCorp currently has a “Buy” rating and a $195.00 target price on the stock. KeyCorp also issued estimates for Pioneer Natural Resources’ Q2 2018 earnings at $1.64 EPS, Q4 2018 earnings at $1.66 EPS and FY2018 earnings at $6.41 EPS.
PXD has been the topic of a number of other research reports. Cowen set a $225.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Thursday, January 18th. SunTrust Banks lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Tuesday, February 6th. Piper Jaffray Companies set a $226.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Friday, February 9th. UBS assumed coverage on shares of Pioneer Natural Resources in a report on Wednesday, March 7th. They issued a “buy” rating and a $215.00 target price on the stock. Finally, B. Riley assumed coverage on shares of Pioneer Natural Resources in a report on Monday, February 5th. They issued a “buy” rating and a $305.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $211.44.
Pioneer Natural Resources (NYSE:PXD) opened at $169.34 on Friday. The stock has a market cap of $28,367.01, a PE ratio of 34.92, a PEG ratio of 2.47 and a beta of 0.96. The company has a current ratio of 1.41, a quick ratio of 1.31 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a 1 year low of $125.46 and a 1 year high of $192.93.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.63. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The business’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PXD. Captrust Financial Advisors bought a new position in Pioneer Natural Resources in the 4th quarter valued at $104,000. Pin Oak Investment Advisors Inc. bought a new position in Pioneer Natural Resources in the 4th quarter valued at $129,000. Banco de Sabadell S.A bought a new position in Pioneer Natural Resources in the 4th quarter valued at $147,000. Guardian Capital Advisors LP bought a new position in Pioneer Natural Resources in the 4th quarter valued at $215,000. Finally, Steward Partners Investment Advisory LLC bought a new position in Pioneer Natural Resources in the 3rd quarter valued at $176,000. 89.44% of the stock is owned by institutional investors.
In other news, SVP Mark H. Kleinman sold 1,150 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $180.17, for a total transaction of $207,195.50. Following the completion of the transaction, the senior vice president now directly owns 13,327 shares of the company’s stock, valued at approximately $2,401,125.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard P. Dealy sold 5,523 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $164.23, for a total transaction of $907,042.29. Following the transaction, the chief financial officer now directly owns 76,297 shares of the company’s stock, valued at $12,530,256.31. The disclosure for this sale can be found here. Insiders have sold a total of 26,218 shares of company stock valued at $4,486,025 over the last three months. Insiders own 0.89% of the company’s stock.
Pioneer Natural Resources declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.16 per share. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. This represents a dividend yield of 0.18%. The ex-dividend date is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio is currently 1.65%.
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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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