Pioneer Natural Resources (NYSE:PXD) received a $280.00 price objective from analysts at Stifel Nicolaus in a report issued on Wednesday, February 7th. The brokerage currently has a “buy” rating on the oil and gas development company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 62.63% from the company’s current price.
PXD has been the subject of a number of other reports. Jefferies Group reiterated a “buy” rating and set a $180.00 target price on shares of Pioneer Natural Resources in a research note on Tuesday, October 10th. BMO Capital Markets set a $200.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research note on Wednesday, October 11th. Barclays boosted their target price on shares of Pioneer Natural Resources from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Finally, 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Pioneer Natural Resources has a consensus rating of “Buy” and a consensus target price of $211.03.
Pioneer Natural Resources (NYSE:PXD) opened at $172.17 on Wednesday. Pioneer Natural Resources has a 1-year low of $125.46 and a 1-year high of $199.83. The firm has a market cap of $29,103.37, a P/E ratio of 35.50, a P/E/G ratio of 2.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.31.
Pioneer Natural Resources declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas development company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
In related news, EVP Mark Stephen Berg sold 2,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $154.47, for a total value of $308,940.00. Following the completion of the transaction, the executive vice president now owns 48,719 shares of the company’s stock, valued at approximately $7,525,623.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy L. Dove sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $159.51, for a total transaction of $159,510.00. Following the completion of the transaction, the chief executive officer now directly owns 259,083 shares of the company’s stock, valued at approximately $41,326,329.33. The disclosure for this sale can be found here. Insiders sold a total of 25,306 shares of company stock valued at $4,164,925 in the last ninety days. 0.89% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. MANA Advisors LLC bought a new position in Pioneer Natural Resources in the 4th quarter worth $610,000. General American Investors Co. Inc. bought a new position in Pioneer Natural Resources in the 4th quarter worth $4,952,000. Partners Capital Investment Group LLP bought a new position in Pioneer Natural Resources in the 4th quarter worth $28,422,000. Centenus Global Management LP bought a new position in Pioneer Natural Resources in the 4th quarter worth $4,667,000. Finally, Koch Industries Inc. bought a new position in Pioneer Natural Resources in the 4th quarter worth $381,000. 90.58% of the stock is owned by institutional investors.
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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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