Pioneer Natural Resources (NYSE:PXD) was upgraded by investment analysts at National Alliance Securities from a “hold” rating to a “buy” rating in a report issued on Monday.
A number of other research analysts have also issued reports on PXD. Jefferies Group restated a “buy” rating and set a $238.00 price target on shares of Pioneer Natural Resources in a research note on Thursday. SunTrust Banks lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $180.00 price objective on the stock. in a research note on Tuesday, February 6th. Stifel Nicolaus set a $260.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Imperial Capital increased their price objective on shares of Pioneer Natural Resources from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Piper Jaffray Companies set a $226.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-five have given a buy rating to the stock. Pioneer Natural Resources has an average rating of “Buy” and an average price target of $207.88.
Shares of Pioneer Natural Resources (NYSE PXD) traded up $5.98 during trading on Monday, reaching $171.03. 1,946,918 shares of the company’s stock were exchanged, compared to its average volume of 1,919,456. 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 has a twelve month low of $125.46 and a twelve month high of $199.83. The firm has a market cap of $29,100.00, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 2.84 and a beta of 0.92.
Pioneer Natural Resources announced that its Board of Directors has initiated a share buyback program on Tuesday, February 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Pioneer Natural Resources news, EVP Chris J. Cheatwood sold 2,201 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $167.82, for a total transaction of $369,371.82. Following the transaction, the executive vice president now directly owns 42,909 shares of the company’s stock, valued at $7,200,988.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $172.60, for a total transaction of $310,680.00. Following the transaction, the executive vice president now directly owns 22,964 shares in the company, valued at $3,963,586.40. The disclosure for this sale can be found here. Insiders have sold 27,106 shares of company stock worth $4,444,339 over the last three months. 0.89% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. WFG Advisors LP lifted its stake in shares of Pioneer Natural Resources by 10.2% in the second quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock worth $176,000 after buying an additional 102 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Pioneer Natural Resources in the third quarter worth about $176,000. Savant Capital LLC purchased a new position in shares of Pioneer Natural Resources in the fourth quarter worth about $208,000. Cetera Advisors LLC purchased a new position in shares of Pioneer Natural Resources in the fourth quarter worth about $215,000. Finally, Trust Co. of Toledo NA OH purchased a new position in shares of Pioneer Natural Resources in the fourth quarter worth about $217,000. 90.58% of the stock is currently 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.
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