Morgan Stanley Raises Pioneer Natural Resources (NYSE:PXD) Price Target to $93.00

Pioneer Natural Resources (NYSE:PXD) had its price target boosted by Morgan Stanley from $92.00 to $93.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and gas development company’s stock.

A number of other research analysts also recently weighed in on PXD. Argus upped their price objective on shares of Pioneer Natural Resources from $90.00 to $109.00 in a research report on Thursday, May 21st. Mizuho upped their price objective on shares of Pioneer Natural Resources from $119.00 to $137.00 in a research report on Friday, June 19th. Siebert Williams Shank downgraded shares of Pioneer Natural Resources from a buy rating to a hold rating in a research report on Tuesday, June 9th. UBS Group upped their price objective on shares of Pioneer Natural Resources from $109.00 to $173.00 and gave the stock a buy rating in a research report on Monday, June 29th. Finally, Barclays upped their price objective on shares of Pioneer Natural Resources from $116.00 to $123.00 and gave the stock an overweight rating in a research report on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Pioneer Natural Resources currently has an average rating of Buy and a consensus target price of $124.57.

NYSE PXD opened at $92.44 on Wednesday. The company has a market capitalization of $15.08 billion, a PE ratio of 22.17, a P/E/G ratio of 7.34 and a beta of 1.77. The company has a fifty day moving average of $96.97 and a 200 day moving average of $106.64. Pioneer Natural Resources has a 1 year low of $48.62 and a 1 year high of $159.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.99 and a quick ratio of 0.90.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Wednesday, May 6th. The oil and gas development company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.18 billion. Pioneer Natural Resources had a net margin of 7.60% and a return on equity of 10.46%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 earnings per share. Research analysts expect that Pioneer Natural Resources will post 1.51 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.55 dividend. The ex-dividend date is Monday, June 29th. This represents a $2.20 annualized dividend and a dividend yield of 2.38%. Pioneer Natural Resources’s dividend payout ratio is presently 26.89%.

In other Pioneer Natural Resources news, VP Craig A. Kuiper sold 4,362 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $113.09, for a total transaction of $493,298.58. Following the sale, the vice president now owns 13,614 shares in the company, valued at approximately $1,539,607.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Chris J. Cheatwood sold 7,000 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was 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 approximately $4,616,106.26. The disclosure for this sale can be found here. Insiders sold a total of 16,090 shares of company stock worth $1,822,121 in the last quarter. Company insiders own 0.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PXD. Manning & Napier Group LLC acquired a new stake in Pioneer Natural Resources during the 2nd quarter valued at $97,184,000. Larson Financial Group LLC purchased a new stake in shares of Pioneer Natural Resources in the second quarter valued at $26,000. Gradient Investments LLC boosted its stake in shares of Pioneer Natural Resources by 32.4% during the second quarter. Gradient Investments LLC now owns 1,054 shares of the oil and gas development company’s stock valued at $103,000 after acquiring an additional 258 shares during the last quarter. Spirit of America Management Corp NY purchased a new stake in Pioneer Natural Resources during the 2nd quarter worth about $54,000. Finally, Carroll Financial Associates Inc. raised its stake in Pioneer Natural Resources by 79.7% in the 2nd quarter. Carroll Financial Associates Inc. now owns 708 shares of the oil and gas development company’s stock valued at $69,000 after purchasing an additional 314 shares during the last quarter. Institutional investors own 89.26% of the company’s stock.

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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