TD Securities Begins Coverage on Pioneer Natural Resources (PXD)

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Equities researchers at TD Securities began coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a report released on Thursday. The brokerage set a “buy” rating and a $240.00 price target on the oil and gas development company’s stock. TD Securities’ price objective would suggest a potential upside of 28.90% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Goldman Sachs Group raised Pioneer Natural Resources from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, April 12th. Zacks Investment Research lowered Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. KeyCorp upped their price target on Pioneer Natural Resources from $195.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, April 23rd. Stifel Nicolaus set a $313.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Wednesday, March 28th. Finally, SunTrust Banks raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $235.00 price target on the stock in a research report on Monday, April 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $221.34.

PXD stock opened at $186.19 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.16 and a debt-to-equity ratio of 0.20. The company has a market cap of $31.73 billion, a P/E ratio of 86.20, a PEG ratio of 1.98 and a beta of 0.92. Pioneer Natural Resources has a 12-month low of $125.46 and a 12-month high of $213.40.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Wednesday, May 2nd. The oil and gas development company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.16. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. Pioneer Natural Resources had a return on equity of 5.57% and a net margin of 15.56%. The business’s revenue was up 56.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. sell-side analysts expect that Pioneer Natural Resources will post 7.16 earnings per share for the current year.

In other news, Director Larry R. Grillot sold 200 shares of the stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $191.13, for a total value of $38,226.00. Following the completion of the transaction, the director now owns 8,061 shares of the company’s stock, valued at $1,540,698.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Chris J. Cheatwood sold 5,184 shares of the stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $203.54, for a total value of $1,055,151.36. Following the completion of the transaction, the executive vice president now directly owns 37,747 shares of the company’s stock, valued at approximately $7,683,024.38. The disclosure for this sale can be found here. In the last three months, insiders sold 73,265 shares of company stock valued at $14,990,928. Company insiders own 0.92% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new position in shares of Pioneer Natural Resources in the fourth quarter worth $104,000. Summit Trail Advisors LLC boosted its stake in Pioneer Natural Resources by 28,826.7% during the first quarter. Summit Trail Advisors LLC now owns 126,699 shares of the oil and gas development company’s stock valued at $127,000 after buying an additional 126,261 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in Pioneer Natural Resources during the fourth quarter valued at about $129,000. Banco de Sabadell S.A bought a new position in Pioneer Natural Resources during the fourth quarter valued at about $147,000. Finally, NuWave Investment Management LLC bought a new position in Pioneer Natural Resources during the first quarter valued at about $177,000. 87.53% of the stock is owned by institutional investors.

Pioneer Natural Resources Company Profile

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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