Pioneer Natural Resources (PXD) Rating Increased to Outperform at Wolfe Research

Pioneer Natural Resources (NYSE:PXD) was upgraded by Wolfe Research from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.

PXD has been the topic of a number of other research reports. Cowen set a $225.00 price target on Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Thursday, January 18th. Zacks Investment Research raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a research report on Wednesday, October 11th. Jefferies Group reissued a “buy” rating and set a $180.00 price target on shares of Pioneer Natural Resources in a research report on Tuesday, October 10th. Barclays increased their price target on Pioneer Natural Resources from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Finally, Mizuho reissued a “buy” rating and set a $196.00 price target on shares of Pioneer Natural Resources in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-six have given a buy rating to the company’s stock. Pioneer Natural Resources presently has a consensus rating of “Buy” and an average price target of $198.44.

Shares of Pioneer Natural Resources (PXD) traded down $3.38 during midday trading on Tuesday, hitting $183.62. The stock had a trading volume of 601,191 shares, compared to its average volume of 1,571,106. The company has a market capitalization of $31,010.00, a price-to-earnings ratio of 249.96, a P/E/G ratio of 4.45 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.58 and a current ratio of 1.69. Pioneer Natural Resources has a one year low of $125.46 and a one year high of $199.83.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Wednesday, November 1st. The oil and gas development company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.18. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.15 billion. Pioneer Natural Resources had a return on equity of 2.34% and a net margin of 2.17%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 earnings per share. research analysts predict that Pioneer Natural Resources will post 1.72 earnings per share for the current fiscal year.

In other news, EVP Jerome D. Hall, Jr. sold 1,800 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $172.60, for a total value of $310,680.00. Following the completion of the transaction, the executive vice president now directly owns 22,964 shares in the company, valued at approximately $3,963,586.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth H. Sheffield, Jr. sold 3,250 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $157.57, for a total value of $512,102.50. The disclosure for this sale can be found here. Insiders sold a total of 42,916 shares of company stock valued at $6,976,992 over the last quarter. 0.89% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in PXD. Capital World Investors raised its position in Pioneer Natural Resources by 45.4% during the 2nd quarter. Capital World Investors now owns 8,005,002 shares of the oil and gas development company’s stock worth $1,277,438,000 after purchasing an additional 2,500,000 shares during the last quarter. Point72 Asset Management L.P. raised its position in Pioneer Natural Resources by 2,357.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 739,763 shares of the oil and gas development company’s stock worth $109,145,000 after purchasing an additional 709,663 shares during the last quarter. Janus Henderson Group PLC raised its position in Pioneer Natural Resources by 1,138.7% during the 2nd quarter. Janus Henderson Group PLC now owns 577,107 shares of the oil and gas development company’s stock worth $92,095,000 after purchasing an additional 530,517 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Pioneer Natural Resources during the 3rd quarter worth $75,317,000. Finally, Fred Alger Management Inc. raised its position in Pioneer Natural Resources by 99.2% during the 2nd quarter. Fred Alger Management Inc. now owns 939,216 shares of the oil and gas development company’s stock worth $149,880,000 after purchasing an additional 467,700 shares during the last quarter. 90.86% of the stock is owned by institutional investors and hedge funds.

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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.