Pioneer Natural Resources (NYSE:PXD) had its target price upped by investment analysts at Morgan Stanley from $197.00 to $229.00 in a note issued to investors on Wednesday. The firm currently has an “overweight” rating on the oil and gas development company’s stock. Morgan Stanley’s price objective indicates a potential upside of 21.58% from the company’s previous close.
Several other analysts have also weighed in on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $207.00 target price on shares of Pioneer Natural Resources in a research note on Tuesday, January 9th. ValuEngine lowered shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. JPMorgan Chase & Co. set a $185.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada set a $201.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Sunday, October 15th. Finally, Zacks Investment Research lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Pioneer Natural Resources presently has a consensus rating of “Buy” and a consensus price target of $197.99.
Shares of Pioneer Natural Resources (PXD) traded down $0.14 during trading hours on Wednesday, hitting $188.36. 1,250,000 shares of the company were exchanged, compared to its average volume of 1,530,000. The company has a current ratio of 1.69, a quick ratio of 1.58 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $32,050.00, a price-to-earnings ratio of 258.03, a PEG ratio of 4.46 and a beta of 0.97. Pioneer Natural Resources has a fifty-two week low of $125.46 and a fifty-two week high of $199.83.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas development company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.15 billion. Pioneer Natural Resources had a net margin of 2.17% and a return on equity of 2.34%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. analysts forecast that Pioneer Natural Resources will post 1.72 earnings per share for the current fiscal year.
In other news, EVP Kenneth H. Sheffield, Jr. sold 3,250 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $157.57, for a total transaction of $512,102.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $172.60, for a total transaction of $310,680.00. Following the transaction, the executive vice president now owns 22,964 shares of the company’s stock, valued at approximately $3,963,586.40. The disclosure for this sale can be found here. Insiders have sold 42,916 shares of company stock valued at $6,976,992 in the last 90 days. Insiders own 0.89% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. GWM Advisors LLC bought a new position in shares of Pioneer Natural Resources during the second quarter worth about $100,000. WFG Advisors LP grew its position in shares of Pioneer Natural Resources by 10.2% during the second quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock worth $176,000 after acquiring an additional 102 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Pioneer Natural Resources during the third quarter worth about $176,000. Sun Life Financial INC lifted its holdings in Pioneer Natural Resources by 7,229.4% in the second quarter. Sun Life Financial INC now owns 1,246 shares of the oil and gas development company’s stock worth $199,000 after purchasing an additional 1,229 shares during the period. Finally, Shelton Capital Management acquired a new stake in Pioneer Natural Resources in the second quarter worth about $205,000. Institutional investors and hedge funds own 90.81% of the company’s stock.
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About Pioneer Natural Resources
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.