Pioneer natural resources (NYSE: PXD – Get a rating) – Capital One Financial research analysts cut their second-quarter 2022 earnings estimates for shares of Pioneer Natural Resources in a note to investors on Tuesday, May 17. Capital One Financial analyst P. Johnston now expects the oil and gas developer to earn $6.38 per share for the quarter, down from its previous estimate of $6.63. . Capital One Financial also released estimates of Pioneer Natural Resources’ Q3 2022 earnings at $6.69 EPS, Q4 2022 earnings at $6.71 EPS and fiscal year 2023 earnings at $22.92 EPS. .
Several other analysts have also weighed in on the company recently. Susquehanna Bancshares raised its target price on Pioneer Natural Resources from $258.00 to $278.00 and gave the company a “positive” rating in a Monday, April 25 research note. KeyCorp raised its target price on Pioneer Natural Resources from $252.00 to $272.00 and gave the company an “overweight” rating in a Thursday, March 24 research note. StockNews.com supposed coverage of Pioneer Natural Resources in a Thursday, March 31 research note. They set a “holding” rating for the company. MKM Partners reduced its price target on Pioneer Natural Resources from $242.00 to $234.00 and set a “buy” rating for the company in a Friday, February 18 research note. To finish, Zacks Investment Research upgraded Pioneer Natural Resources from a “hold” rating to a “strong-buy” rating and set a target price of $256.00 for the company in a research note on Friday, February 4. Five investment analysts gave the stock a hold rating, eleven gave the stock a buy rating and three gave the stock a strong buy rating. According to MarketBeat.com, the stock has an average buy rating and consensus price target of $276.53.
Shares of NYSE: PXD opened at $271.08 on Thursday. The company has a 50-day moving average price of $248.17 and a 200-day moving average price of $217.94. Pioneer Natural Resources has a 12-month low of $133.73 and a 12-month high of $279.98. The company has a market capitalization of $65.59 billion, a price/earnings ratio of 16.50, a PEG ratio of 0.94 and a beta of 1.53. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt ratio of 0.23.
Pioneer natural resources (NYSE: PXD – Get a rating) last released its quarterly results on Wednesday, May 4. The oil and gas development company reported earnings per share (EPS) of $7.74 for the quarter, beating the consensus estimate of $7.32 by $0.42. The company posted revenue of $6.17 billion in the quarter, versus a consensus estimate of $5.99 billion. Pioneer Natural Resources had a return on equity of 21.01% and a net margin of 22.85%. The company’s revenue increased 152.5% year over year. In the same quarter a year earlier, the company posted EPS of $1.77.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 14. Shareholders of record on Tuesday, May 31 will receive a dividend of $7.38. This represents a dividend of $29.52 on an annualized basis and a yield of 10.89%. This is a positive change from Pioneer Natural Resources’ previous quarterly dividend of $0.78. The ex-dividend date is Friday, May 27. Pioneer Natural Resources’ dividend payout ratio (DPR) is currently 15.09%.
In other news, EVP Mark Stephen Berg sold 2,500 shares of the company in a trade on Tuesday, May 17. The stock was sold at an average price of $274.41, for a total value of $686,025.00. Following the transaction, the executive vice president now directly owns 49,546 shares of the company, valued at approximately $13,595,917.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, CAD Marguerite Montemayor sold 3,855 shares of the company in a trade on Tuesday, March 1. The stock was sold at an average price of $239.21, for a total value of $922,154.55. Disclosure of this sale can be found here. Insiders sold a total of 104,002 shares of the company worth $25,293,266 during the last quarter. Company insiders own 0.55% of the company’s shares.
Several large investors have recently bought and sold shares of PXD. Capital World Investors increased its position in Pioneer Natural Resources shares by 18.4% in the third quarter. Capital World Investors now owns 12,922,031 shares of the oil and gas development company worth $2,151,697,000 after purchasing an additional 2,011,643 shares in the last quarter. Capital International Investors increased its holdings in Pioneer Natural Resources by 45.1% during the fourth quarter. Capital International Investors now owns 6,105,125 shares of the oil and gas development company worth $1,110,392,000 after acquiring an additional 1,898,932 shares last quarter. First Trust Advisors LP increased its stake in Pioneer Natural Resources by 236.0% during the first quarter. First Trust Advisors LP now owns 1,632,267 shares of the oil and gas development company worth $408,116,000 after acquiring an additional 1,146,401 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Pioneer Natural Resources by 20.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,290,431 shares of the oil and gas development company worth $1,322,766,000 after acquiring 903,653 additional shares last quarter. Finally, Abrams Bison Investments LLC bought a new position in Pioneer Natural Resources during the fourth quarter worth approximately $108,764,000. Institutional investors and hedge funds hold 87.65% of the company’s shares.
Pioneer Natural Resources Company Profile (Get a rating)
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 petroleum, natural gas liquids (NGLs) and gas. It operates in the Midland Basin in West Texas. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs and 462 billion cubic feet of gas; and held stakes in 11 gas processing plants.
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