Jefferies Group Reiterates “Buy” Rating for Pioneer Natural Resources (PXD)

Pioneer Natural Resources (NYSE:PXD)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group in a research note issued on Monday. They presently have a $235.00 target price on the oil and gas development company’s stock. Jefferies Group’s price target points to a potential upside of 38.35% from the stock’s previous close.

PXD has been the subject of a number of other reports. Seaport Global Securities raised shares of Pioneer Natural Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Zacks Investment Research raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $176.00 price target for the company in a research note on Friday, December 15th. Mizuho set a $202.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Piper Jaffray Companies set a $227.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday, March 14th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $225.00 price target on shares of Pioneer Natural Resources in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-six have issued a buy rating to the stock. Pioneer Natural Resources has an average rating of “Buy” and an average price target of $211.33.

How to Become a New Pot Stock Millionaire

Pioneer Natural Resources stock opened at $169.86 on Monday. Pioneer Natural Resources has a 52 week low of $125.46 and a 52 week high of $192.93. The company has a current ratio of 1.41, a quick ratio of 1.31 and a debt-to-equity ratio of 0.20. The company has a market cap of $28,838.74, a PE ratio of 35.02, a P/E/G ratio of 2.52 and a beta of 0.96.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.63. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 48.4% compared to the same quarter last year. analysts predict that Pioneer Natural Resources will post 6.23 earnings per share for the current year.

Pioneer Natural Resources announced that its board has approved a stock repurchase plan on Tuesday, February 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the oil and gas development company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other news, VP Teresa A. Fairbrook sold 2,134 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $180.00, for a total value of $384,120.00. Following the completion of the sale, the vice president now owns 10,284 shares in the company, valued at approximately $1,851,120. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Chris J. Cheatwood sold 2,201 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $167.82, for a total transaction of $369,371.82. Following the completion of the sale, the executive vice president now owns 42,909 shares of the company’s stock, valued at approximately $7,200,988.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,695 shares of company stock valued at $3,258,983. Company insiders own 0.89% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Pioneer Natural Resources by 11.4% in the 4th quarter. BlackRock Inc. now owns 13,552,443 shares of the oil and gas development company’s stock valued at $2,342,540,000 after purchasing an additional 1,389,479 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Pioneer Natural Resources by 7.3% during the 4th quarter. Clearbridge Investments LLC now owns 2,883,327 shares of the oil and gas development company’s stock worth $498,383,000 after acquiring an additional 195,828 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Pioneer Natural Resources by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,683,875 shares of the oil and gas development company’s stock worth $463,908,000 after acquiring an additional 329,971 shares in the last quarter. Boston Partners raised its stake in shares of Pioneer Natural Resources by 51.2% during the 4th quarter. Boston Partners now owns 2,262,356 shares of the oil and gas development company’s stock worth $391,048,000 after acquiring an additional 766,124 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Pioneer Natural Resources by 1.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,031,598 shares of the oil and gas development company’s stock worth $299,386,000 after acquiring an additional 25,163 shares in the last quarter. Institutional investors and hedge funds own 89.36% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Jefferies Group Reiterates “Buy” Rating for Pioneer Natural Resources (PXD)” was first posted by Stock Observer and is the property of of Stock Observer. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thestockobserver.com/2018/03/21/jefferies-group-reiterates-buy-rating-for-pioneer-natural-resources-pxd.html.

About Pioneer Natural Resources

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.

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

Receive News & Ratings for Pioneer Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply