Pioneer Natural Resources (NYSE:PXD)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group in a research note issued to investors on Thursday. They currently have a $238.00 price target on the oil and gas development company’s stock. Jefferies Group’s price objective would suggest a potential upside of 44.20% from the company’s previous close. Jefferies Group also issued estimates for Pioneer Natural Resources’ Q1 2018 earnings at $1.46 EPS, Q4 2018 earnings at $1.83 EPS, Q1 2019 earnings at $1.86 EPS, Q2 2019 earnings at $1.97 EPS, Q3 2019 earnings at $2.16 EPS and Q4 2019 earnings at $2.30 EPS.
Other equities analysts have also recently issued research reports about the company. Mizuho reaffirmed a “buy” rating and issued a $196.00 target price on shares of Pioneer Natural Resources in a report on Friday, November 3rd. JPMorgan Chase & Co. set a $185.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Credit Suisse Group assumed coverage on Pioneer Natural Resources in a report 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 stock a “buy” rating in a report on Saturday, October 21st. Finally, Williams Capital lowered their target price on Pioneer Natural Resources from $165.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the company. Pioneer Natural Resources currently has a consensus rating of “Buy” and a consensus price target of $207.88.
Pioneer Natural Resources (PXD) opened at $165.05 on Thursday. Pioneer Natural Resources has a fifty-two week low of $125.46 and a fifty-two week high of $199.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.58. The stock has a market capitalization of $27,400.00, a PE ratio of 33.68, a price-to-earnings-growth ratio of 3.05 and a beta of 0.92.
Pioneer Natural Resources announced that its board has approved a stock repurchase program on Tuesday, February 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the oil and gas development company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, EVP Mark Stephen Berg sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $154.47, for a total transaction of $308,940.00. Following the completion of the sale, the executive vice president now owns 48,719 shares of the company’s stock, valued at $7,525,623.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $172.60, for a total value of $310,680.00. Following the sale, the executive vice president now directly owns 22,964 shares of the company’s stock, valued at approximately $3,963,586.40. The disclosure for this sale can be found here. Insiders have sold 27,106 shares of company stock valued at $4,444,339 in the last ninety days. 0.89% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System boosted its holdings in Pioneer Natural Resources by 1.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 247,807 shares of the oil and gas development company’s stock worth $36,561,000 after acquiring an additional 4,040 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Pioneer Natural Resources by 2,357.7% in the third quarter. Point72 Asset Management L.P. now owns 739,763 shares of the oil and gas development company’s stock worth $109,145,000 after acquiring an additional 709,663 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Pioneer Natural Resources by 4.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 566,122 shares of the oil and gas development company’s stock worth $83,526,000 after acquiring an additional 26,050 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in Pioneer Natural Resources by 25.0% in the third quarter. Alyeska Investment Group L.P. now owns 171,902 shares of the oil and gas development company’s stock worth $25,362,000 after acquiring an additional 34,342 shares in the last quarter. Finally, Ashburton Jersey Ltd boosted its holdings in Pioneer Natural Resources by 87.3% in the third quarter. Ashburton Jersey Ltd now owns 17,034 shares of the oil and gas development company’s stock worth $2,513,000 after acquiring an additional 7,940 shares in the last quarter. 90.97% of the stock is owned by institutional investors and hedge funds.
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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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