Pioneer Natural Resources (NYSE:PXD) announced a quarterly dividend on Thursday, May 21st, RTT News reports. Investors of record on Tuesday, June 30th will be paid a dividend of 0.55 per share by the oil and gas development company on Tuesday, July 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, June 29th.
Pioneer Natural Resources has a payout ratio of 224.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Pioneer Natural Resources to earn $1.84 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 119.6%.
PXD opened at $94.11 on Friday. The company has a market capitalization of $15.52 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 8.04 and a beta of 1.77. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19. Pioneer Natural Resources has a 12-month low of $48.62 and a 12-month high of $159.01. The business’s fifty day simple moving average is $94.17 and its 200-day simple moving average is $109.73.
Several equities analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Pioneer Natural Resources from $98.00 to $111.00 and gave the company a “buy” rating in a report on Monday, April 20th. SunTrust Banks upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Thursday. Imperial Capital upped their price objective on Pioneer Natural Resources from $83.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. UBS Group dropped their price objective on Pioneer Natural Resources from $205.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Finally, Wells Fargo & Co boosted their target price on shares of Pioneer Natural Resources from $114.00 to $116.00 and gave the stock an “overweight” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Pioneer Natural Resources presently has a consensus rating of “Buy” and an average price target of $121.48.
In other news, EVP Chris J. Cheatwood sold 7,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $115.66, for a total value of $809,620.00. Following the sale, the executive vice president now owns 39,911 shares in the company, valued at $4,616,106.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Craig A. Kuiper sold 4,362 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $113.09, for a total transaction of $493,298.58. Following the transaction, the vice president now directly owns 13,614 shares of the company’s stock, valued at approximately $1,539,607.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,090 shares of company stock worth $1,822,121. 0.91% of the stock is owned by insiders.
Pioneer Natural Resources Company Profile
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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