B. Riley Initiates Coverage on Pioneer Natural Resources (PXD)

Stock analysts at B. Riley began coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a note issued to investors on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $305.00 price target on the oil and gas development company’s stock. B. Riley’s price objective would indicate a potential upside of 75.34% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Credit Suisse Group initiated coverage on shares of Pioneer Natural Resources in a research report on Monday, December 11th. They set an “outperform” rating and a $192.00 target price for the company. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $192.00 target price for the company in a research report on Tuesday, December 26th. Morgan Stanley dropped their target price on shares of Pioneer Natural Resources from $202.00 to $197.00 and set an “overweight” rating for the company in a research report on Wednesday, October 18th. KeyCorp set a $180.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Saturday, November 25th. Finally, Seaport Global Securities upgraded shares of Pioneer Natural Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $201.77.

Shares of Pioneer Natural Resources (NYSE:PXD) opened at $173.95 on Monday. The stock has a market cap of $29,600.00, a PE ratio of 238.29, a P/E/G ratio of 3.95 and a beta of 0.92. The company has a current ratio of 1.69, a quick ratio of 1.58 and a debt-to-equity ratio of 0.22. Pioneer Natural Resources has a 1 year low of $125.46 and a 1 year high of $199.83.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.63. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Pioneer Natural Resources had a net margin of 2.17% and a return on equity of 2.34%. The firm’s revenue for the quarter was up 48.4% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. analysts expect that Pioneer Natural Resources will post 1.69 earnings per share for the current fiscal year.

In other news, CEO Timothy L. Dove sold 5,560 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $160.66, for a total value of $893,269.60. Following the transaction, the chief executive officer now owns 260,083 shares of the company’s stock, valued at approximately $41,784,934.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy L. Dove sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $159.51, for a total transaction of $159,510.00. Following the completion of the transaction, the chief executive officer now directly owns 259,083 shares in the company, valued at approximately $41,326,329.33. The disclosure for this sale can be found here. Insiders sold a total of 39,666 shares of company stock valued at $6,464,889 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. boosted its stake in shares of Pioneer Natural Resources by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 2,286,903 shares of the oil and gas development company’s stock valued at $337,410,000 after purchasing an additional 384,485 shares during the last quarter. Boston Partners boosted its stake in shares of Pioneer Natural Resources by 51.2% in the 4th quarter. Boston Partners now owns 2,262,356 shares of the oil and gas development company’s stock valued at $391,048,000 after purchasing an additional 766,124 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Pioneer Natural Resources by 1.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,031,598 shares of the oil and gas development company’s stock valued at $299,386,000 after purchasing an additional 25,163 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Pioneer Natural Resources by 1.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,844,299 shares of the oil and gas development company’s stock valued at $272,108,000 after purchasing an additional 34,109 shares during the last quarter. Finally, Swedbank boosted its stake in shares of Pioneer Natural Resources by 31.4% in the 3rd quarter. Swedbank now owns 1,797,382 shares of the oil and gas development company’s stock valued at $265,186,000 after purchasing an additional 429,705 shares during the last quarter. 90.97% of the stock is currently owned by institutional investors.

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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)

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