Pioneer Natural Resources (PXD) Stock Rating Lowered by TheStreet

TheStreet lowered shares of Pioneer Natural Resources (NYSE:PXD) from a b- rating to a c+ rating in a report published on Tuesday, August 7th.

A number of other research analysts have also recently issued reports on the company. Goldman Sachs Group raised Pioneer Natural Resources from a buy rating to a conviction-buy rating in a report on Thursday, April 12th. Zacks Investment Research upgraded Pioneer Natural Resources from a hold rating to a buy rating and set a $214.00 price objective for the company in a research report on Tuesday, July 31st. KeyCorp lifted their price objective on Pioneer Natural Resources from $195.00 to $220.00 and gave the stock a buy rating in a research report on Monday, April 23rd. SunTrust Banks upgraded Pioneer Natural Resources from a hold rating to a buy rating and set a $235.00 price objective for the company in a research report on Monday, April 16th. Finally, Royal Bank of Canada set a $225.00 target price on Pioneer Natural Resources and gave the stock a buy rating in a research report on Friday, April 13th. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Pioneer Natural Resources currently has a consensus rating of Buy and a consensus target price of $232.57.

PXD stock traded down $0.04 during midday trading on Tuesday, hitting $174.70. 1,025,100 shares of the company traded hands, compared to its average volume of 1,517,121. Pioneer Natural Resources has a twelve month low of $125.46 and a twelve month high of $213.40. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. The company has a market cap of $29.95 billion, a PE ratio of 80.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.88.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Tuesday, August 7th. The oil and gas development company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.08). The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.27 billion. Pioneer Natural Resources had a return on equity of 7.29% and a net margin of 12.23%. equities analysts expect that Pioneer Natural Resources will post 6.97 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, September 27th. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.04. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.37%. Pioneer Natural Resources’s payout ratio is presently 14.81%.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of Pioneer Natural Resources by 9.1% during the 2nd quarter. BlackRock Inc. now owns 12,425,606 shares of the oil and gas development company’s stock worth $2,351,423,000 after acquiring an additional 1,032,381 shares during the last quarter. FMR LLC increased its holdings in shares of Pioneer Natural Resources by 27.9% during the 2nd quarter. FMR LLC now owns 6,431,051 shares of the oil and gas development company’s stock worth $1,217,012,000 after acquiring an additional 1,401,626 shares during the last quarter. Boston Partners increased its holdings in shares of Pioneer Natural Resources by 12.7% during the 1st quarter. Boston Partners now owns 2,549,700 shares of the oil and gas development company’s stock worth $437,987,000 after acquiring an additional 287,344 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Pioneer Natural Resources by 5.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,363,653 shares of the oil and gas development company’s stock valued at $447,298,000 after buying an additional 113,443 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Pioneer Natural Resources by 14.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,506,308 shares of the oil and gas development company’s stock valued at $285,055,000 after buying an additional 192,418 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

About Pioneer Natural Resources

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.

See Also: Earnings Per Share (EPS)

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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