Pioneer Natural Resources (PXD) Upgraded to Outperform by Macquarie

Macquarie upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a neutral rating to an outperform rating in a report released on Monday morning, Benzinga reports. Macquarie currently has $168.32 target price on the oil and gas development company’s stock.

Several other brokerages have also recently commented on PXD. Goldman Sachs Group cut shares of Pioneer Natural Resources to a buy rating in a research note on Friday. ValuEngine upgraded shares of Pioneer Natural Resources from a sell rating to a hold rating in a research note on Saturday. Citigroup began coverage on shares of Pioneer Natural Resources in a research note on Tuesday, April 9th. They issued a buy rating for the company. Barclays reiterated a buy rating and issued a $217.00 price objective on shares of Pioneer Natural Resources in a research note on Wednesday, April 10th. Finally, Credit Suisse Group cut their target price on shares of Pioneer Natural Resources from $210.00 to $200.00 and set an outperform rating for the company in a research report on Thursday, February 14th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Pioneer Natural Resources currently has an average rating of Buy and a consensus target price of $210.91.

Shares of NYSE PXD opened at $167.74 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. Pioneer Natural Resources has a 52 week low of $119.08 and a 52 week high of $213.40. The stock has a market capitalization of $28.36 billion, a P/E ratio of 26.58, a P/E/G ratio of 2.17 and a beta of 0.99.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Wednesday, February 13th. The oil and gas development company reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.30). Pioneer Natural Resources had a net margin of 10.40% and a return on equity of 9.25%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business earned $1.22 EPS. The firm’s revenue for the quarter was up 75.4% on a year-over-year basis. As a group, research analysts anticipate that Pioneer Natural Resources will post 7.55 EPS for the current fiscal year.

The company also recently declared a semiannual dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.16. This represents a dividend yield of 0.45%. Pioneer Natural Resources’s payout ratio is 10.14%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Samlyn Capital LLC grew its holdings in shares of Pioneer Natural Resources by 40.1% during the fourth quarter. Samlyn Capital LLC now owns 204,408 shares of the oil and gas development company’s stock worth $26,883,000 after buying an additional 58,467 shares in the last quarter. Suntrust Banks Inc. grew its holdings in shares of Pioneer Natural Resources by 880.8% during the fourth quarter. Suntrust Banks Inc. now owns 39,643 shares of the oil and gas development company’s stock worth $5,214,000 after buying an additional 35,601 shares in the last quarter. Precocity Capital LP purchased a new stake in shares of Pioneer Natural Resources during the fourth quarter worth about $11,179,000. S&CO Inc. grew its holdings in shares of Pioneer Natural Resources by 3.7% during the fourth quarter. S&CO Inc. now owns 119,238 shares of the oil and gas development company’s stock worth $15,682,000 after buying an additional 4,233 shares in the last quarter. Finally, Empire Life Investments Inc. grew its holdings in shares of Pioneer Natural Resources by 16.8% during the fourth quarter. Empire Life Investments Inc. now owns 93,529 shares of the oil and gas development company’s stock worth $12,301,000 after buying an additional 13,485 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Pioneer Natural Resources Company Profile

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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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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