StockNews.com Initiates Coverage on Pioneer Natural Resources (NYSE:PXD)

Investment analysts at StockNews.com began coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a note issued to investors on Thursday. The firm set a “hold” rating on the oil and gas development company’s stock.

Other equities analysts also recently issued research reports about the company. Susquehanna upped their price target on Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Mizuho upped their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Stifel Nicolaus reduced their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a research report on Tuesday, January 23rd. Finally, UBS Group reduced their price target on Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $254.90.

Pioneer Natural Resources Price Performance

Shares of PXD opened at $262.50 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. The stock has a 50 day simple moving average of $236.92 and a 200 day simple moving average of $233.93. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $263.08. The firm has a market capitalization of $61.33 billion, a PE ratio of 12.97 and a beta of 1.30.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the firm posted $5.91 earnings per share. Pioneer Natural Resources’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Pioneer Natural Resources will post 20.35 EPS for the current fiscal year.

Insider Activity at Pioneer Natural Resources

In related news, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $235.25, for a total value of $2,352,500.00. Following the sale, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the transaction, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the transaction, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,766 shares of company stock worth $9,067,373. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Hartford Financial Management Inc. increased its position in Pioneer Natural Resources by 61.1% during the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after buying an additional 44 shares during the period. Sachetta LLC acquired a new stake in shares of Pioneer Natural Resources during the 4th quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in shares of Pioneer Natural Resources during the 3rd quarter worth $29,000. Ancora Advisors LLC grew its holdings in shares of Pioneer Natural Resources by 77.4% during the 1st quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock worth $30,000 after purchasing an additional 65 shares in the last quarter. Finally, DecisionPoint Financial LLC acquired a new stake in shares of Pioneer Natural Resources during the 2nd quarter worth $34,000. Institutional investors own 80.57% of the company’s stock.

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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.