Brokerages Set Pioneer Natural Resources (NYSE:PXD) Target Price at $208.35

Pioneer Natural Resources (NYSE:PXD) has been assigned a consensus rating of “Buy” from the thirty-three brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $208.35.

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their target price on Pioneer Natural Resources from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. S&P Equity Research reiterated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of Pioneer Natural Resources in a research note on Wednesday, May 8th. Imperial Capital dropped their price target on Pioneer Natural Resources from $200.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. ValuEngine cut Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, TheStreet upgraded Pioneer Natural Resources from a “c+” rating to a “b-” rating in a research note on Friday, April 26th.

In related news, CAO Margaret Montemayor sold 888 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.38, for a total transaction of $136,201.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.91% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Exane Derivatives raised its position in shares of Pioneer Natural Resources by 1,731.7% in the 4th quarter. Exane Derivatives now owns 1,850 shares of the oil and gas development company’s stock worth $243,000 after acquiring an additional 1,749 shares in the last quarter. Rhumbline Advisers raised its position in shares of Pioneer Natural Resources by 0.3% in the 4th quarter. Rhumbline Advisers now owns 297,648 shares of the oil and gas development company’s stock worth $39,147,000 after acquiring an additional 1,024 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Pioneer Natural Resources by 0.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 223,168 shares of the oil and gas development company’s stock worth $29,351,000 after acquiring an additional 1,433 shares in the last quarter. Dupont Capital Management Corp raised its position in shares of Pioneer Natural Resources by 175.2% in the 4th quarter. Dupont Capital Management Corp now owns 13,051 shares of the oil and gas development company’s stock worth $1,716,000 after acquiring an additional 8,309 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Pioneer Natural Resources by 123.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,861 shares of the oil and gas development company’s stock worth $3,138,000 after acquiring an additional 13,160 shares in the last quarter. 87.98% of the stock is owned by institutional investors and hedge funds.

Shares of PXD stock traded down $4.81 during trading hours on Wednesday, reaching $141.32. The company’s stock had a trading volume of 1,434,853 shares, compared to its average volume of 1,909,150. The company has a market cap of $24.46 billion, a PE ratio of 22.40, a P/E/G ratio of 0.87 and a beta of 1.09. Pioneer Natural Resources has a fifty-two week low of $119.08 and a fifty-two week high of $195.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.99.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Monday, May 6th. The oil and gas development company reported $1.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.22. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.19 billion. Pioneer Natural Resources had a return on equity of 9.31% and a net margin of 11.89%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. On average, equities analysts predict that Pioneer Natural Resources will post 9.12 EPS for the current fiscal year.

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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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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