Citigroup upgraded shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) from a neutral rating to a buy rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have $210.00 price target on the oil and gas development company’s stock, up from their previous price target of $193.00.
Several other equities analysts also recently commented on PXD. Morgan Stanley dropped their price target on shares of Pioneer Natural Resources from $261.00 to $247.00 and set an underweight rating for the company in a research note on Tuesday, January 24th. Piper Sandler dropped their price target on shares of Pioneer Natural Resources from $340.00 to $322.00 and set an overweight rating for the company in a research note on Tuesday, March 7th. Wells Fargo & Company upgraded shares of Pioneer Natural Resources from an underweight rating to an equal weight rating and dropped their price target for the stock from $225.00 to $220.00 in a research note on Thursday, March 2nd. Roth Capital restated a buy rating on shares of Pioneer Natural Resources in a research note on Wednesday, February 22nd. Finally, Tudor Pickering upgraded shares of Pioneer Natural Resources from a hold rating to a buy rating in a research note on Monday, February 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $264.58.
Pioneer Natural Resources Stock Down 0.3 %
Shares of NYSE PXD opened at $189.18 on Thursday. The firm has a market cap of $44.46 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 1.01 and a beta of 1.41. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.18. Pioneer Natural Resources has a 52-week low of $177.26 and a 52-week high of $288.46. The business’s 50 day moving average is $214.89 and its two-hundred day moving average is $230.74.
Pioneer Natural Resources Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Monday, March 6th were issued a $5.58 dividend. The ex-dividend date of this dividend was Friday, March 3rd. This represents a $22.32 dividend on an annualized basis and a dividend yield of 11.80%. Pioneer Natural Resources’s payout ratio is 14.17%.
Institutional Investors Weigh In On Pioneer Natural Resources
A number of institutional investors and hedge funds have recently made changes to their positions in PXD. Symmetry Partners LLC raised its holdings in Pioneer Natural Resources by 6.1% during the third quarter. Symmetry Partners LLC now owns 5,420 shares of the oil and gas development company’s stock worth $1,174,000 after purchasing an additional 313 shares in the last quarter. Guardian Capital Advisors LP raised its holdings in Pioneer Natural Resources by 296.3% during the third quarter. Guardian Capital Advisors LP now owns 11,395 shares of the oil and gas development company’s stock worth $2,813,000 after purchasing an additional 8,520 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Pioneer Natural Resources by 106.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 169 shares of the oil and gas development company’s stock worth $37,000 after purchasing an additional 87 shares in the last quarter. Lyell Wealth Management LP raised its holdings in Pioneer Natural Resources by 2.6% during the third quarter. Lyell Wealth Management LP now owns 1,769 shares of the oil and gas development company’s stock worth $383,000 after purchasing an additional 45 shares in the last quarter. Finally, IMA Wealth Inc. raised its holdings in Pioneer Natural Resources by 7.6% during the second quarter. IMA Wealth Inc. now owns 13,969 shares of the oil and gas development company’s stock worth $3,116,000 after purchasing an additional 989 shares in the last quarter. 89.75% of the stock is owned by hedge funds and other institutional investors.
Pioneer Natural Resources Company Profile
Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.
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