Published On: Mon, Sep 12th, 2016

Analysts’ Recent Ratings Updates for Pioneer Natural Resources (PXD)

A number of firms have modified their ratings and price targets on shares of Pioneer Natural Resources (NYSE: PXD) recently:

9/8/2016 – Pioneer Natural Resources is now covered by analysts at Mitsubishi UFJ Financial Group. They set a “neutral” rating and a $200.00 price target on the stock.
9/1/2016 – Pioneer Natural Resources had its price target raised by analysts at Barclays PLC from $175.00 to $190.00. They now have an “overweight” rating on the stock.
8/29/2016 – Pioneer Natural Resources is now covered by analysts at Williams Capital. They set a “buy” rating and a $217.00 price target on the stock.
8/24/2016 – Pioneer Natural Resources had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $212.00 price target on the stock, up previously from $182.25.
8/22/2016 – Pioneer Natural Resources had its price target raised by analysts at KeyCorp from $190.00 to $215.00. They now have an “overweight” rating on the stock.
8/17/2016 – Pioneer Natural Resources is now covered by analysts at Sanford C. Bernstein. They set an “outperform” rating and a $210.00 price target on the stock.
8/11/2016 – Pioneer Natural Resources was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Pioneer Natural Resources joint venture in the southern Wolfcamp acreage is helping in accelerating activities in the area. For 2016, Pioneer has increased its growth forecast to reflect the improvement of its Midland programs and expects to deliver an impressive production growth of 13-17% in 2017. The company’s successful cost containment efforts and low level of debts are other positives. These show the efficiency in its operations and place it advantageously over its peers. However, we see limited upside potential for shares, taking into consideration Pioneer’s sensitivity to gas/oil price volatility, as well as its drilling results, costs, geo-political risks and project timing delays. Further, the Permian operations carry high execution risk due to the transition from the Spraberry vertical development program to the horizontal appraisal of the Wolfcamp.”
8/4/2016 – Pioneer Natural Resources was downgraded by analysts at Societe Generale from a “hold” rating to a “sell” rating. They now have a $132.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
8/2/2016 – Pioneer Natural Resources was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $175.00 price target on the stock, up previously from $152.00.
8/1/2016 – Pioneer Natural Resources was given a new $190.00 price target on by analysts at JPMorgan Chase & Co.. They now have a “buy” rating on the stock.
7/31/2016 – Pioneer Natural Resources had its “buy” rating reaffirmed by analysts at KLR Group. They now have a $238.00 price target on the stock, up previously from $218.00.
7/29/2016 – Pioneer Natural Resources had its “buy” rating reaffirmed by analysts at Canaccord Genuity.
7/28/2016 – Pioneer Natural Resources had its price target raised by analysts at Citigroup Inc. from $180.00 to $190.00. They now have a “buy” rating on the stock.
7/28/2016 – Pioneer Natural Resources was upgraded by analysts at Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating.
7/18/2016 – Pioneer Natural Resources was upgraded by analysts at KLR Group from an “accumulate” rating to a “buy” rating. They now have a $218.00 price target on the stock, up previously from $172.00.
7/14/2016 – Pioneer Natural Resources had its price target raised by analysts at Barclays PLC from $151.00 to $152.00. They now have an “equal weight” rating on the stock.

Shares of Pioneer Natural Resources Co. (NYSE:PXD) opened at 180.60 on Monday. The stock’s market capitalization is $30.63 billion. The company has a 50 day moving average price of $173.08 and a 200-day moving average price of $155.94. Pioneer Natural Resources Co. has a 52-week low of $103.50 and a 52-week high of $190.94.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Wednesday, July 27th. The oil and gas development company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.12. Pioneer Natural Resources had a negative return on equity of 1.79% and a negative net margin of 10.75%. The firm had revenue of $786 million for the quarter, compared to the consensus estimate of $797.28 million. During the same period in the prior year, the firm earned $0.10 EPS. The firm’s revenue was up 22.0% on a year-over-year basis. On average, analysts predict that Pioneer Natural Resources Co. will post ($0.29) earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, September 28th. Pioneer Natural Resources’s payout ratio is -2.52%.
In related news, Director J Kenneth Thompson sold 750 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $171.51, for a total value of $128,632.50. Following the transaction, the director now directly owns 9,453 shares of the company’s stock, valued at approximately $1,621,284.03. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jerome D. Hall, Jr. sold 1,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $183.24, for a total value of $183,240.00. Following the completion of the transaction, the executive vice president now directly owns 21,994 shares in the company, valued at $4,030,180.56. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.
Pioneer Natural Resources Company is an independent oil and gas exploration and production company with operations in the United States. The Company operates through the oil and gas development, exploration and production segment. The Company focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties.

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