Pioneer Natural Resources (NYSE:PXD)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Group in a report issued on Thursday. They currently have a $238.00 price target on the oil and gas development company’s stock. Jefferies Group’s target price would suggest a potential upside of 44.20% from the company’s current price. Jefferies Group also issued estimates for Pioneer Natural Resources’ Q1 2018 earnings at $1.46 EPS, Q4 2018 earnings at $1.83 EPS, Q1 2019 earnings at $1.86 EPS, Q2 2019 earnings at $1.97 EPS, Q3 2019 earnings at $2.16 EPS and Q4 2019 earnings at $2.30 EPS.
Several other analysts also recently issued reports on PXD. Zacks Investment Research raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a research report on Wednesday, October 11th. Barclays lifted their price target on shares of Pioneer Natural Resources from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Royal Bank of Canada set a $201.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Sunday, October 15th. Wolfe Research downgraded shares of Pioneer Natural Resources from an “outperform” rating to a “market perform” rating and set a $143.78 price target for the company. in a research report on Monday, October 16th. Finally, Williams Capital reduced their price target on shares of Pioneer Natural Resources from $165.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $207.88.
Shares of Pioneer Natural Resources (NYSE PXD) traded down $4.11 during mid-day trading on Thursday, hitting $165.05. 2,812,272 shares of the stock traded hands, compared to its average volume of 1,800,189. The firm has a market cap of $28,085.73, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 2.98 and a beta of 0.92. Pioneer Natural Resources has a one year low of $125.46 and a one year high of $199.83. The company has a current ratio of 1.41, a quick ratio of 1.58 and a debt-to-equity ratio of 0.20.
Pioneer Natural Resources announced that its board has approved a share buyback program on Tuesday, February 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, EVP Jerome D. Hall, Jr. sold 1,800 shares of Pioneer Natural Resources stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $172.60, for a total transaction of $310,680.00. Following the sale, the executive vice president now directly owns 22,964 shares in the company, valued at approximately $3,963,586.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott D. Sheffield sold 5,000 shares of Pioneer Natural Resources stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $172.38, for a total value of $861,900.00. Following the sale, the director now owns 576,066 shares in the company, valued at $99,302,257.08. The disclosure for this sale can be found here. Insiders have sold a total of 27,106 shares of company stock worth $4,444,339 over the last quarter. Company insiders own 0.89% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GWM Advisors LLC bought a new stake in shares of Pioneer Natural Resources during the 2nd quarter worth $100,000. WFG Advisors LP raised its stake in shares of Pioneer Natural Resources by 10.2% during the 2nd quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock worth $176,000 after purchasing an additional 102 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter worth $176,000. GeoSphere Capital Management bought a new stake in Pioneer Natural Resources in the 2nd quarter valued at about $199,000. Finally, Shelton Capital Management bought a new stake in Pioneer Natural Resources in the 2nd quarter valued at about $205,000. Institutional investors own 90.97% of the company’s stock.
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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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