Pioneer Natural Resources (NYSE:PXD) had its price target raised by equities research analysts at KeyCorp from $195.00 to $220.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the oil and gas development company’s stock. KeyCorp’s target price would suggest a potential upside of 11.48% from the company’s current price.
A number of other equities research analysts have also issued reports on PXD. ValuEngine raised Pioneer Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday, April 19th. Piper Jaffray reissued a “buy” rating and issued a $229.00 target price on shares of Pioneer Natural Resources in a research report on Wednesday, April 18th. BMO Capital Markets reissued a “buy” rating and issued a $260.00 target price on shares of Pioneer Natural Resources in a research report on Wednesday, April 11th. KLR Group lowered Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Finally, Royal Bank of Canada set a $225.00 price target on Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Friday, April 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $216.72.
Shares of Pioneer Natural Resources stock opened at $197.35 on Monday. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $197.81. The company has a market capitalization of $33,200.14, a P/E ratio of 90.25, a PEG ratio of 2.34 and a beta of 0.95. 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 declared that its board has authorized a share repurchase 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 repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In related news, SVP Mark H. Kleinman sold 1,150 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $180.17, for a total value of $207,195.50. Following the completion of the sale, the senior vice president now directly owns 13,327 shares in the company, valued at approximately $2,401,125.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris J. Cheatwood sold 9,513 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $175.93, for a total value 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 $7,552,850.83. The disclosure for this sale can be found here. Insiders have sold a total of 18,207 shares of company stock worth $3,219,653 over the last three months. 0.92% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PXD. Dimensional Fund Advisors LP boosted its stake in Pioneer Natural Resources by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 513,064 shares of the oil and gas development company’s stock valued at $75,698,000 after purchasing an additional 13,755 shares during the period. Cubist Systematic Strategies LLC boosted its stake in Pioneer Natural Resources by 253.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 2,776 shares of the oil and gas development company’s stock valued at $410,000 after purchasing an additional 1,991 shares during the period. Neville Rodie & Shaw Inc. bought a new stake in Pioneer Natural Resources in the 4th quarter valued at $309,000. Washington Trust Bank boosted its stake in Pioneer Natural Resources by 4.5% in the 4th quarter. Washington Trust Bank now owns 21,777 shares of the oil and gas development company’s stock valued at $3,764,000 after purchasing an additional 938 shares during the period. Finally, Renaissance Investment Group LLC boosted its stake in Pioneer Natural Resources by 4.8% in the 4th quarter. Renaissance Investment Group LLC now owns 18,233 shares of the oil and gas development company’s stock valued at $3,152,000 after purchasing an additional 842 shares during the period. Institutional investors and hedge funds own 89.50% 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.
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