Pioneer Natural Resources Company (PXD) Downgraded by BidaskClub to “Strong Sell”

BidaskClub cut shares of Pioneer Natural Resources Company (NYSE:PXD) from a sell rating to a strong sell rating in a report published on Saturday.

PXD has been the topic of a number of other research reports. Seaport Global Securities downgraded Pioneer Natural Resources Company from a buy rating to a neutral rating and reduced their price target for the stock from $225.00 to $215.00 in a research report on Friday, March 31st. Mizuho raised Pioneer Natural Resources Company from a neutral rating to a buy rating in a research report on Tuesday, March 21st. Scotiabank reissued a buy rating and set a $250.00 price target on shares of Pioneer Natural Resources Company in a research report on Thursday, March 16th. Credit Suisse Group reissued a buy rating on shares of Pioneer Natural Resources Company in a research report on Friday, May 5th. Finally, KLR Group increased their price target on Pioneer Natural Resources Company from $234.00 to $240.00 and gave the stock a buy rating in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $216.50.

Shares of Pioneer Natural Resources Company (PXD) traded up 0.49% during mid-day trading on Friday, reaching $158.79. The company had a trading volume of 2,575,929 shares. The stock’s market capitalization is $27.01 billion. Pioneer Natural Resources Company has a 12-month low of $146.08 and a 12-month high of $199.83. The firm’s 50 day moving average is $169.23 and its 200-day moving average is $181.00.

Pioneer Natural Resources Company (NYSE:PXD) last issued its quarterly earnings results on Wednesday, May 3rd. The oil and gas development company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.10 billion. Pioneer Natural Resources Company had a positive return on equity of 1.08% and a negative net margin of 7.20%. The firm’s quarterly revenue was up 114.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.64) earnings per share. On average, analysts expect that Pioneer Natural Resources Company will post $1.77 earnings per share for the current fiscal year.

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In related news, EVP Chris J. Cheatwood sold 5,749 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $173.79, for a total transaction of $999,118.71. Following the completion of the transaction, the executive vice president now directly owns 45,110 shares of the company’s stock, valued at approximately $7,839,666.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.92% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PXD. BlackRock Inc. raised its position in shares of Pioneer Natural Resources Company by 2,397.3% in the first quarter. BlackRock Inc. now owns 11,376,848 shares of the oil and gas development company’s stock valued at $2,118,708,000 after buying an additional 10,921,279 shares in the last quarter. Boston Partners bought a new position in shares of Pioneer Natural Resources Company during the first quarter valued at about $274,976,000. FMR LLC raised its position in shares of Pioneer Natural Resources Company by 18.3% in the first quarter. FMR LLC now owns 8,424,493 shares of the oil and gas development company’s stock valued at $1,568,894,000 after buying an additional 1,304,274 shares in the last quarter. Norges Bank bought a new position in shares of Pioneer Natural Resources Company during the fourth quarter valued at about $231,658,000. Finally, Swedbank bought a new position in shares of Pioneer Natural Resources Company during the first quarter valued at about $172,313,000. 92.73% of the stock is owned by institutional investors and hedge funds.

About Pioneer Natural Resources Company

Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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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