Investors Buy Shares of Pioneer Natural Resources (PXD) on Weakness

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Investors bought shares of Pioneer Natural Resources (NYSE:PXD) on weakness during trading on Tuesday. $107.72 million flowed into the stock on the tick-up and $71.54 million flowed out of the stock on the tick-down, for a money net flow of $36.18 million into the stock. Of all stocks tracked, Pioneer Natural Resources had the 33rd highest net in-flow for the day. Pioneer Natural Resources traded down ($1.36) for the day and closed at $132.07

Several research firms have recently commented on PXD. Seaport Global Securities cut Pioneer Natural Resources from a “buy” rating to a “neutral” rating and reduced their target price for the company from $230.00 to $210.00 in a research note on Wednesday, October 10th. Oppenheimer started coverage on Pioneer Natural Resources in a research note on Wednesday, October 3rd. They issued a “market perform” rating on the stock. Morgan Stanley boosted their price target on Pioneer Natural Resources from $236.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Barclays started coverage on Pioneer Natural Resources in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $225.00 price target on the stock. Finally, Susquehanna Bancshares raised Pioneer Natural Resources from a “neutral” rating to a “positive” rating and boosted their price target for the company from $211.00 to $216.00 in a research note on Monday, September 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $232.46.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.20. The firm has a market capitalization of $22.74 billion, a price-to-earnings ratio of 63.44, a PEG ratio of 1.54 and a beta of 1.11.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.38. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.24 billion. Pioneer Natural Resources had a net margin of 15.98% and a return on equity of 9.47%. Pioneer Natural Resources’s revenue for the quarter was up 112.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. On average, analysts expect that Pioneer Natural Resources will post 7.14 EPS for the current fiscal year.

Pioneer Natural Resources announced that its board has authorized a share buyback program on Thursday, December 13th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the oil and gas development company to purchase up to 8.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Several institutional investors have recently bought and sold shares of PXD. Kiley Juergens Wealth Management LLC lifted its holdings in Pioneer Natural Resources by 159.5% in the third quarter. Kiley Juergens Wealth Management LLC now owns 768 shares of the oil and gas development company’s stock worth $133,000 after buying an additional 472 shares during the period. Banco de Sabadell S.A lifted its holdings in Pioneer Natural Resources by 100.0% in the third quarter. Banco de Sabadell S.A now owns 1,000 shares of the oil and gas development company’s stock worth $173,000 after buying an additional 500 shares during the period. Fox Run Management L.L.C. purchased a new stake in Pioneer Natural Resources in the third quarter worth about $227,000. Glenmede Trust Co. NA lifted its holdings in Pioneer Natural Resources by 43.5% in the third quarter. Glenmede Trust Co. NA now owns 1,322 shares of the oil and gas development company’s stock worth $230,000 after buying an additional 401 shares during the period. Finally, Traynor Capital Management Inc. purchased a new stake in Pioneer Natural Resources in the third quarter worth about $240,000. Institutional investors own 87.11% of the company’s stock.

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Pioneer Natural Resources Company Profile (NYSE:PXD)

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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