Pioneer Natural Resources (NYSE:PXD) PT Raised to $118.00

Pioneer Natural Resources (NYSE:PXD) had its price objective upped by research analysts at KeyCorp from $115.00 to $118.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas development company’s stock. KeyCorp’s price objective indicates a potential upside of 50.43% from the company’s previous close. KeyCorp also issued estimates for Pioneer Natural Resources’ FY2020 earnings at $1.86 EPS.

Several other research firms have also issued reports on PXD. Bank of America boosted their target price on shares of Pioneer Natural Resources from $122.00 to $130.00 and gave the company a “buy” rating in a report on Monday, September 28th. Credit Suisse Group initiated coverage on shares of Pioneer Natural Resources in a research report on Tuesday, August 4th. They set a “buy” rating and a $115.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Pioneer Natural Resources from $107.00 to $119.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 8th. Siebert Williams Shank reaffirmed a “buy” rating and issued a $147.00 price objective on shares of Pioneer Natural Resources in a research report on Wednesday, August 26th. Finally, TD Securities upped their price objective on shares of Pioneer Natural Resources from $97.00 to $105.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $127.77.

Shares of NYSE:PXD opened at $78.44 on Tuesday. The company’s 50 day simple moving average is $91.36 and its 200 day simple moving average is $92.91. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 6.52 and a beta of 1.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.65. Pioneer Natural Resources has a 1 year low of $48.62 and a 1 year high of $159.01.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Tuesday, August 4th. The oil and gas development company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. The firm had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $1.37 billion. Pioneer Natural Resources had a net margin of 5.26% and a return on equity of 7.20%. The company’s revenue was down 55.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 earnings per share. As a group, analysts anticipate that Pioneer Natural Resources will post 1.9 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in PXD. Vanguard Group Inc. raised its position in shares of Pioneer Natural Resources by 17.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,249,120 shares of the oil and gas development company’s stock valued at $1,587,540,000 after purchasing an additional 2,409,725 shares during the last quarter. State Street Corp increased its holdings in Pioneer Natural Resources by 9.6% in the 1st quarter. State Street Corp now owns 9,200,338 shares of the oil and gas development company’s stock worth $650,302,000 after buying an additional 806,132 shares during the period. Clearbridge Investments LLC grew its stake in shares of Pioneer Natural Resources by 5.2% during the 1st quarter. Clearbridge Investments LLC now owns 4,525,633 shares of the oil and gas development company’s stock worth $317,473,000 after purchasing an additional 223,235 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Pioneer Natural Resources by 191.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,095,104 shares of the oil and gas development company’s stock worth $204,692,000 after purchasing an additional 1,375,597 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Pioneer Natural Resources by 99.6% during the 2nd quarter. Bank of Montreal Can now owns 1,089,920 shares of the oil and gas development company’s stock worth $99,705,000 after purchasing an additional 543,848 shares during the period. 90.11% of the stock is owned by institutional investors.

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. As of December 31, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil, 16 million barrels of NGLs, and 83 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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