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Pioneer Natural Resources (NYSE:PXD) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a research report issued on Wednesday, reports. They currently have a $224.00 price target on the stock, down from their previous price target of $305.00. Canaccord Genuity’s price objective suggests a potential upside of 5.99% from the company’s current price. The analysts noted that the move was a valuation call.

Shares of Pioneer Natural Resources (NYSE:PXD) traded down 2.24% on Wednesday, hitting $206.615. The stock had a trading volume of 982,770 shares. Pioneer Natural Resources has a 1-year low of $163.90 and a 1-year high of $234.60. The stock has a 50-day moving average of $216.9 and a 200-day moving average of $205.0. The company’s market cap is $29.566 billion.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Monday, August 4th. The company reported $1.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.28 by $0.07. The company had revenue of $953.00 million for the quarter, compared to the consensus estimate of $964.05 million. During the same quarter in the prior year, the company posted $1.10 earnings per share. The company’s quarterly revenue was down 17.8% on a year-over-year basis. Analysts expect that Pioneer Natural Resources will post $5.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.08%. The ex-dividend date is Friday, September 26th.

A number of other firms have also recently commented on PXD. Analysts at Zacks reiterated a “neutral” rating on shares of Pioneer Natural Resources in a research note on Thursday, August 14th. They now have a $215.00 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Pioneer Natural Resources in a research note on Monday, August 11th. They now have a $182.00 price target on the stock, down previously from $186.00. Finally, analysts at Societe Generale raised their price target on shares of Pioneer Natural Resources from $144.00 to $220.00 in a research note on Thursday, August 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $232.17.

Pioneer Natural Resources Company (NYSE:PXD) is an independent oil and gas exploration and production company with operations in the United States and South Africa.

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