KLR Group Downgrades Pioneer Natural Resources (PXD) to Hold

Pioneer Natural Resources (NYSE:PXD) was downgraded by equities researchers at KLR Group from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat reports.

Other equities analysts have also recently issued research reports about the stock. National Alliance Securities raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research report on Monday, February 12th. Citigroup increased their price objective on shares of Pioneer Natural Resources from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Jefferies Group reissued a “buy” rating and set a $235.00 price objective on shares of Pioneer Natural Resources in a research report on Monday, March 19th. JPMorgan Chase set a $185.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Finally, 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 report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $215.95.

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PXD stock opened at $195.47 on Wednesday. The stock has a market cap of $32,898.71, a PE ratio of 90.50, a P/E/G ratio of 2.32 and a beta of 0.96. 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 1 year low of $125.46 and a 1 year high of $196.48.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.63. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The business’s revenue was up 48.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. sell-side analysts expect that Pioneer Natural Resources will post 6.55 EPS for the current fiscal year.

Pioneer Natural Resources announced that its board has approved a stock buyback plan 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $170.93, for a total value of $341,860.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris J. Cheatwood sold 9,513 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $175.93, for a total transaction of $1,673,622.09. Following the completion of the sale, the executive vice president now owns 42,931 shares of the company’s stock, valued at approximately $7,552,850.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,207 shares of company stock valued at $3,219,653. Company insiders own 0.92% of the company’s stock.

A number of large investors have recently bought and sold shares of PXD. Captrust Financial Advisors purchased a new stake in shares of Pioneer Natural Resources during the 4th quarter worth approximately $104,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Pioneer Natural Resources during the 4th quarter worth approximately $129,000. Banco de Sabadell S.A purchased a new stake in shares of Pioneer Natural Resources during the 4th quarter worth approximately $147,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Pioneer Natural Resources during the 3rd quarter worth approximately $176,000. Finally, Savant Capital LLC purchased a new stake in shares of Pioneer Natural Resources during the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 89.40% of the company’s stock.

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About Pioneer Natural Resources

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has 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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