Pioneer Natural Resources Company (NYSE:PXD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

According to Zacks, “The pricing scenario of oil and natural gas has been weak since mid-2014 level following oversupplied commodity market. The development to this front could harm Pioneer Natural’s cashflows as the company could sell the commodities at lower prices. The pricing chart also shows significant weaknesses as reflected that year-to-date, Pioneer Natural fell more than 10% while the Zacks categorized Oil & Gas-U.S Exploration & Production industry slipped almost 26%. Moreover, to a certain extent, the company’s long-term production and reserve growth depends on its acquire-and-exploit model. In keeping with this, Pioneer Natural Resources may find it difficult to complete accretive transactions in the future. This could, in turn, negatively impact its growth rate.”

A number of other analysts have also recently weighed in on PXD. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $233.00 price objective on shares of Pioneer Natural Resources in a report on Friday, May 12th. Scotiabank reissued a “buy” rating and set a $245.00 target price on shares of Pioneer Natural Resources in a research note on Friday, May 5th. Barclays PLC reissued a “buy” rating and set a $196.00 target price (down previously from $204.00) on shares of Pioneer Natural Resources in a research note on Thursday, April 20th. Stifel Nicolaus reissued a “buy” rating and set a $267.00 target price on shares of Pioneer Natural Resources in a research note on Wednesday, April 12th. Finally, Jefferies Group LLC set a $245.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Monday, March 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. Pioneer Natural Resources has an average rating of “Buy” and a consensus target price of $215.05.

Shares of Pioneer Natural Resources (NYSE:PXD) traded up 1.00% during trading on Monday, reaching $162.55. 718,111 shares of the company’s stock traded hands. The stock has a 50-day moving average of $165.54 and a 200-day moving average of $179.06. Pioneer Natural Resources has a 1-year low of $147.21 and a 1-year high of $199.83. The company’s market capitalization is $27.65 billion.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Wednesday, May 3rd. The oil and gas development company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.09. Pioneer Natural Resources had a negative net margin of 7.20% and a positive return on equity of 1.08%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted ($0.64) EPS. The firm’s revenue was up 114.3% compared to the same quarter last year. On average, equities analysts predict that Pioneer Natural Resources will post $1.43 EPS 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 value of $999,118.71. Following the transaction, the executive vice president now owns 45,110 shares in the company, valued at $7,839,666.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PXD. Coconut Grove Bank raised its stake in Pioneer Natural Resources by 103.7% in the first quarter. Coconut Grove Bank now owns 552 shares of the oil and gas development company’s stock valued at $103,000 after buying an additional 281 shares during the period. Winch Advisory Services LLC acquired a new stake in Pioneer Natural Resources during the first quarter valued at $112,000. Quadrant Capital Group LLC raised its stake in Pioneer Natural Resources by 6.2% in the first quarter. Quadrant Capital Group LLC now owns 615 shares of the oil and gas development company’s stock valued at $107,000 after buying an additional 36 shares during the period. Morgan Dempsey Capital Management LLC raised its stake in Pioneer Natural Resources by 3.4% in the first quarter. Morgan Dempsey Capital Management LLC now owns 792 shares of the oil and gas development company’s stock valued at $147,000 after buying an additional 26 shares during the period. Finally, Financial Architects Inc acquired a new stake in Pioneer Natural Resources during the first quarter valued at $154,000. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Pioneer Natural Resources Company Profile

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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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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