Pioneer Natural Resources (PXD) Earns Outperform Rating from Analysts at Cowen

Cowen initiated coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $230.00 target price on the oil and gas development company’s stock.

PXD has been the subject of several other research reports. Mizuho set a $206.00 target price on shares of Pioneer Natural Resources and gave the company a buy rating in a research note on Wednesday, November 28th. Williams Capital set a $231.00 price objective on shares of Pioneer Natural Resources and gave the company a hold rating in a research note on Wednesday, November 7th. Morgan Stanley reaffirmed a buy rating and set a $234.00 price objective (down previously from $240.00) on shares of Pioneer Natural Resources in a research note on Friday, October 12th. Barclays dropped their price objective on shares of Pioneer Natural Resources from $219.00 to $215.00 and set a buy rating for the company in a research note on Thursday, November 15th. Finally, ValuEngine raised shares of Pioneer Natural Resources from a sell rating to a hold rating in a research note on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $231.58.

Shares of PXD stock opened at $147.75 on Thursday. Pioneer Natural Resources has a twelve month low of $140.54 and a twelve month high of $213.40. The stock has a market capitalization of $25.19 billion, a P/E ratio of 68.40, a PEG ratio of 1.70 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.20 and a quick ratio of 1.07.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.38. Pioneer Natural Resources had a net margin of 15.98% and a return on equity of 9.47%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was up 112.2% on a year-over-year basis. On average, analysts expect that Pioneer Natural Resources will post 7.17 EPS for the current year.

Several large investors have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its holdings in shares of Pioneer Natural Resources by 1.2% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 23,913 shares of the oil and gas development company’s stock worth $4,526,000 after purchasing an additional 273 shares during the period. CWM LLC grew its holdings in shares of Pioneer Natural Resources by 5.5% during the 2nd quarter. CWM LLC now owns 6,307 shares of the oil and gas development company’s stock worth $1,194,000 after purchasing an additional 326 shares during the period. Dupont Capital Management Corp grew its holdings in shares of Pioneer Natural Resources by 8.1% during the 3rd quarter. Dupont Capital Management Corp now owns 4,742 shares of the oil and gas development company’s stock worth $826,000 after purchasing an additional 357 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Pioneer Natural Resources by 1.6% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,522 shares of the oil and gas development company’s stock worth $4,451,000 after purchasing an additional 361 shares during the period. Finally, Intrust Bank NA grew its holdings in shares of Pioneer Natural Resources by 23.9% during the 2nd quarter. Intrust Bank NA now owns 1,935 shares of the oil and gas development company’s stock worth $367,000 after purchasing an additional 373 shares during the period. Institutional investors and hedge funds own 87.63% 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 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.

Further Reading: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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