Pioneer Natural Resources Price Target Cut to $112.00 (PXD)
“We are lowering our target price $1 to $112/share due to the upsizing of the company’s equity offering. Importantly, our ’13 growth expectation of ~16%, which is at the high end of guidance (12%-16%), could prove optimistic as it assumes the capital intensity of horizontal development in the Spraberry field is comparable to vertical development.,” the firm’s analyst commented.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a buy rating on shares of Pioneer Natural Resources in a research note to investors on Monday. Separately, analysts at Howard Weil raised their price target on shares of Pioneer Natural Resources from $130.00 to $150.00 in a research note to investors on Friday, March 8th. They now have a sector outperform rating on the stock.
Sixteen equities research analysts have rated the stock with a buy rating, five have given an overweight rating, eleven have assigned a hold rating, and two have given a sell rating to the company. The company currently has a consensus rating of overweight and a consensus target price of $135.98.
Pioneer Natural Resources (NYSE: PXD) opened at 127.62 on Wednesday. Pioneer Natural Resources has a 1-year low of $77.41 and a 1-year high of $133.68. The stock’s 50-day moving average is currently $124.3. The company has a market cap of $15.743 billion and a price-to-earnings ratio of 85.08.
The company also recently declared a semiannual dividend, which is scheduled for Thursday, April 11th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.04 per share. This represents a yield of 0.06%. The ex-dividend date of this dividend is Tuesday, March 26th.
Pioneer Natural Resources Company (Pioneer) is an independent oil and gas exploration and production company with operations in the United States and South Africa.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.