Pioneer Natural Resources (NYSE:PXD) had its price target increased by investment analysts at Citigroup from $215.00 to $250.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the oil and gas development company’s stock. Citigroup’s target price indicates a potential upside of 45.21% from the company’s current price.
A number of other research analysts have also issued reports on the company. National Alliance Securities upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating in a report on Monday. Piper Jaffray Companies set a $226.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus set a $260.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a report on Wednesday, February 7th. TheStreet upgraded Pioneer Natural Resources from a “c” rating to a “b” rating in a report on Tuesday, February 6th. Finally, Imperial Capital lifted their target price on Pioneer Natural Resources from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $211.03.
Pioneer Natural Resources (PXD) traded up $1.14 on Tuesday, hitting $172.17. The stock had a trading volume of 1,202,847 shares, compared to its average volume of 1,910,000. Pioneer Natural Resources has a 1-year low of $125.46 and a 1-year high of $199.83. The stock has a market capitalization of $29,300.00, a price-to-earnings ratio of 35.14, a P/E/G ratio of 2.84 and a beta of 0.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.41.
Pioneer Natural Resources announced that its Board of Directors has initiated a share buyback program on Tuesday, February 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Jerome D. Hall, Jr. sold 1,800 shares of Pioneer Natural Resources 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 sale, the executive vice president now owns 22,964 shares in the company, valued at $3,963,586.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris J. Cheatwood sold 2,201 shares of Pioneer Natural Resources stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $167.82, for a total value of $369,371.82. Following the sale, the executive vice president now owns 42,909 shares in the company, valued at approximately $7,200,988.38. The disclosure for this sale can be found here. Insiders have sold a total of 25,306 shares of company stock valued at $4,164,925 over the last ninety days. 0.89% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. WFG Advisors LP increased 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 purchasing an additional 102 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Pioneer Natural Resources during the third quarter worth about $176,000. Shelton Capital Management acquired a new stake in shares of Pioneer Natural Resources during the second quarter worth about $205,000. Cetera Investment Advisers acquired a new stake in shares of Pioneer Natural Resources during the second quarter worth about $206,000. Finally, Savant Capital LLC acquired a new stake in shares of Pioneer Natural Resources during the fourth quarter worth about $208,000. Institutional investors and hedge funds own 90.58% of the company’s stock.
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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