Pioneer Natural Resources (NYSE:PXD) – Stock analysts at Seaport Global Securities increased their Q2 2019 earnings per share estimates for Pioneer Natural Resources in a research note issued on Monday, February 11th. Seaport Global Securities analyst J. Aschenbeck now expects that the oil and gas development company will post earnings of $2.07 per share for the quarter, up from their prior estimate of $2.04. Seaport Global Securities currently has a “Buy” rating and a $215.00 target price on the stock. Seaport Global Securities also issued estimates for Pioneer Natural Resources’ Q3 2019 earnings at $2.24 EPS, Q4 2019 earnings at $2.36 EPS and FY2019 earnings at $8.66 EPS.
Other analysts have also recently issued reports about the company. Morgan Stanley dropped their price target on Pioneer Natural Resources from $234.00 to $218.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. Oppenheimer reiterated a “hold” rating on shares of Pioneer Natural Resources in a research report on Thursday, October 25th. Wells Fargo & Co reiterated a “market perform” rating and set a $227.00 price target on shares of Pioneer Natural Resources in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a research report on Tuesday, October 23rd. Finally, Stephens assumed coverage on Pioneer Natural Resources in a research report on Thursday, December 6th. They set an “overweight” rating and a $270.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Pioneer Natural Resources has an average rating of “Buy” and a consensus target price of $225.48.
Pioneer Natural Resources declared that its board has initiated a stock buyback program on Thursday, December 13th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the oil and gas development company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other Pioneer Natural Resources news, Director Andrew F. Cates purchased 790 shares of the firm’s stock in a transaction dated Thursday, December 27th. The shares were acquired at an average price of $124.27 per share, with a total value of $98,173.30. Following the purchase, the director now directly owns 13,370 shares in the company, valued at approximately $1,661,489.90. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy L. Dove sold 4,800 shares of the company’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $134.18, for a total value of $644,064.00. Following the completion of the transaction, the chief executive officer now directly owns 276,901 shares in the company, valued at approximately $37,154,576.18. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC acquired a new position in shares of Pioneer Natural Resources in the 4th quarter valued at $31,000. JOYN Advisors Inc. lifted its stake in Pioneer Natural Resources by 73.8% during the 4th quarter. JOYN Advisors Inc. now owns 358 shares of the oil and gas development company’s stock worth $47,000 after acquiring an additional 152 shares in the last quarter. Captrust Financial Advisors lifted its stake in Pioneer Natural Resources by 72.0% during the 4th quarter. Captrust Financial Advisors now owns 363 shares of the oil and gas development company’s stock worth $48,000 after acquiring an additional 152 shares in the last quarter. We Are One Seven LLC acquired a new position in Pioneer Natural Resources during the 4th quarter worth about $58,000. Finally, Parallel Advisors LLC lifted its stake in Pioneer Natural Resources by 56.0% during the 4th quarter. Parallel Advisors LLC now owns 563 shares of the oil and gas development company’s stock worth $74,000 after acquiring an additional 202 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.
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.
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