Pioneer Natural Resources (NYSE:PXD) PT Raised to $138.00

Pioneer Natural Resources (NYSE:PXD) had its target price lifted by analysts at KeyCorp from $132.00 to $138.00 in a report issued on Thursday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the oil and gas development company’s stock. KeyCorp’s target price indicates a potential upside of 5.40% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Truist upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $135.00 in a research note on Tuesday, December 22nd. Truist Financial upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, December 23rd. Bank of America upped their target price on shares of Pioneer Natural Resources from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Piper Sandler upped their target price on shares of Pioneer Natural Resources from $113.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, December 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Pioneer Natural Resources from $119.00 to $142.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Pioneer Natural Resources currently has a consensus rating of “Buy” and an average target price of $128.82.

PXD opened at $130.93 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. Pioneer Natural Resources has a 52-week low of $48.62 and a 52-week high of $149.54. The company has a 50 day moving average of $115.29 and a two-hundred day moving average of $99.55. The company has a market cap of $21.53 billion, a P/E ratio of 51.96, a P/E/G ratio of 6.28 and a beta of 1.84.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data on Wednesday, November 4th. The oil and gas development company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Pioneer Natural Resources had a return on equity of 7.20% and a net margin of 5.26%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the firm earned $1.99 earnings per share. Pioneer Natural Resources’s quarterly revenue was down 21.9% compared to the same quarter last year. Research analysts anticipate that Pioneer Natural Resources will post 1.9 earnings per share for the current year.

In other Pioneer Natural Resources news, EVP Jerome D. Hall, Jr. sold 1,000 shares of the stock in a transaction on Monday, December 7th. The shares were sold at an average price of $111.25, for a total transaction of $111,250.00. Following the sale, the executive vice president now directly owns 44,150 shares of the company’s stock, valued at $4,911,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Stephen Berg sold 5,607 shares of the stock in a transaction on Wednesday, November 25th. The stock was sold at an average price of $110.05, for a total transaction of $617,050.35. Following the sale, the executive vice president now directly owns 21,511 shares in the company, valued at $2,367,285.55. The disclosure for this sale can be found here. Insiders sold 13,835 shares of company stock worth $1,567,819 over the last ninety days. 0.91% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Raymond James Trust N.A. raised its holdings in shares of Pioneer Natural Resources by 21.5% during the fourth quarter. Raymond James Trust N.A. now owns 9,227 shares of the oil and gas development company’s stock worth $1,051,000 after purchasing an additional 1,634 shares during the period. Strategic Investment Advisors MI acquired a new stake in shares of Pioneer Natural Resources during the fourth quarter worth $254,000. IFM Investors Pty Ltd raised its holdings in shares of Pioneer Natural Resources by 19.0% during the fourth quarter. IFM Investors Pty Ltd now owns 15,927 shares of the oil and gas development company’s stock worth $1,814,000 after purchasing an additional 2,538 shares during the period. Investment House LLC acquired a new stake in shares of Pioneer Natural Resources during the fourth quarter worth $342,000. Finally, Redpoint Investment Management Pty Ltd raised its holdings in shares of Pioneer Natural Resources by 10.5% during the fourth quarter. Redpoint Investment Management Pty Ltd now owns 5,208 shares of the oil and gas development company’s stock worth $593,000 after purchasing an additional 495 shares during the period. 90.11% of the stock is currently 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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