BMO Capital Markets Reaffirms “Buy” Rating for Pioneer Natural Resources (PXD)
BMO Capital Markets reaffirmed their buy rating on shares of Pioneer Natural Resources (NYSE:PXD) in a report issued on Thursday morning. BMO Capital Markets currently has a $225.00 price objective on the oil and gas development company’s stock.
Other equities analysts also recently issued reports about the company. Mizuho restated a buy rating and issued a $196.00 target price on shares of Pioneer Natural Resources in a research note on Friday, November 3rd. JPMorgan Chase & Co. set a $185.00 target price on Pioneer Natural Resources and gave the company a buy rating in a research note on Wednesday, January 3rd. Credit Suisse Group assumed coverage on Pioneer Natural Resources in a research note on Monday, December 11th. They issued an outperform rating and a $192.00 target price for the company. KeyCorp set a $180.00 target price on Pioneer Natural Resources and gave the company a buy rating in a research note on Saturday, October 21st. Finally, Williams Capital decreased their target price on Pioneer Natural Resources from $165.00 to $162.00 and set a hold rating for the company in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $193.80.
Shares of Pioneer Natural Resources (PXD) traded up $1.98 during mid-day trading on Thursday, reaching $186.15. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.58 and a current ratio of 1.69. Pioneer Natural Resources has a one year low of $125.46 and a one year high of $199.83. The firm has a market capitalization of $31,660.00, a P/E ratio of 255.00, a P/E/G ratio of 4.81 and a beta of 0.97.
Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Wednesday, November 1st. The oil and gas development company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.18. Pioneer Natural Resources had a return on equity of 2.34% and a net margin of 2.17%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.13 earnings per share. Pioneer Natural Resources’s quarterly revenue was up 23.1% compared to the same quarter last year. research analysts forecast that Pioneer Natural Resources will post 1.64 EPS for the current year.
In other news, CEO Timothy L. Dove sold 5,560 shares of Pioneer Natural Resources stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $160.66, for a total transaction of $893,269.60. Following the sale, the chief executive officer now owns 260,083 shares of the company’s stock, valued at $41,784,934.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard P. Dealy sold 5,523 shares of Pioneer Natural Resources stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $164.23, for a total value of $907,042.29. Following the sale, the chief financial officer now directly owns 76,297 shares in the company, valued at approximately $12,530,256.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,916 shares of company stock worth $6,976,992. Corporate insiders own 0.89% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its holdings in Pioneer Natural Resources by 1.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 51,365 shares of the oil and gas development company’s stock worth $8,878,000 after purchasing an additional 768 shares in the last quarter. Nexus Investment Management Inc. bought a new stake in Pioneer Natural Resources during the fourth quarter worth approximately $225,000. Trust Co raised its holdings in Pioneer Natural Resources by 39.1% during the third quarter. Trust Co now owns 2,350 shares of the oil and gas development company’s stock worth $347,000 after purchasing an additional 660 shares in the last quarter. Renaissance Investment Group LLC raised its holdings in Pioneer Natural Resources by 4.8% during the fourth quarter. Renaissance Investment Group LLC now owns 18,233 shares of the oil and gas development company’s stock worth $3,152,000 after purchasing an additional 842 shares in the last quarter. Finally, Washington Trust Bank raised its holdings in Pioneer Natural Resources by 4.5% during the fourth quarter. Washington Trust Bank now owns 21,777 shares of the oil and gas development company’s stock worth $3,764,000 after purchasing an additional 938 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
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Pioneer Natural Resources Company Profile
Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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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