Pioneer Natural Resources’ (PXD) “Buy” Rating Reaffirmed at Stifel Nicolaus

Pioneer Natural Resources (NYSE:PXD)‘s stock had its “buy” rating restated by analysts at Stifel Nicolaus in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $280.00 target price on the oil and gas development company’s stock, up from their previous target price of $260.00. Stifel Nicolaus’ price objective points to a potential upside of 55.99% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Credit Suisse Group initiated coverage on shares of Pioneer Natural Resources in a research report on Monday, December 11th. They set an “outperform” rating and a $192.00 target price on the stock. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $192.00 target price on the stock in a research report on Tuesday, December 26th. Morgan Stanley cut their target price on shares of Pioneer Natural Resources from $202.00 to $197.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 18th. KeyCorp set a $180.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Saturday, November 25th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $207.00 price target on shares of Pioneer Natural Resources in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $210.30.

Pioneer Natural Resources (NYSE PXD) opened at $179.50 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.31 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $199.40. The stock has a market cap of $30,540.00, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.92.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.63. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue was up 48.4% compared to the same quarter last year. equities research analysts anticipate that Pioneer Natural Resources will post 5.54 earnings per share for the current year.

Pioneer Natural Resources announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

In other news, EVP Mark Stephen Berg sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $154.47, for a total transaction of $308,940.00. Following the completion of the transaction, the executive vice president now directly owns 48,719 shares of the company’s stock, valued at approximately $7,525,623.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark H. Kleinman sold 2,582 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $158.37, for a total transaction of $408,911.34. Following the transaction, the senior vice president now directly owns 12,861 shares of the company’s stock, valued at $2,036,796.57. The disclosure for this sale can be found here. Insiders have sold a total of 27,306 shares of company stock worth $4,506,785 over the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors bought a new position in shares of Pioneer Natural Resources during the 4th quarter worth approximately $104,000. WFG Advisors LP grew 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 acquiring an additional 102 shares in the last quarter. Guardian Capital Advisors LP bought a new position in shares of Pioneer Natural Resources during the 4th quarter worth approximately $215,000. Steward Partners Investment Advisory LLC bought a new position in shares of Pioneer Natural Resources during the 3rd quarter worth approximately $176,000. Finally, Savant Capital LLC bought a new position in shares of Pioneer Natural Resources during the 4th quarter worth approximately $208,000. 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.

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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