Pioneer Natural Resources (PXD) Raised to “Buy” at Seaport Global Securities

Seaport Global Securities upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat.com reports. Seaport Global Securities also issued estimates for Pioneer Natural Resources’ Q4 2017 earnings at $0.66 EPS, FY2017 earnings at $1.60 EPS, Q1 2018 earnings at $0.94 EPS, Q2 2018 earnings at $1.02 EPS, Q3 2018 earnings at $1.14 EPS, Q4 2018 earnings at $1.13 EPS and FY2018 earnings at $4.24 EPS.

A number of other research analysts have also recently commented on the stock. Morgan Stanley reduced their target price on shares of Pioneer Natural Resources from $202.00 to $197.00 and set an overweight rating on the stock 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. Mizuho set a $190.00 target price on shares of Pioneer Natural Resources and gave the stock a buy rating in a research report on Saturday, November 25th. Jefferies Group set a $171.00 price target on shares of Pioneer Natural Resources and gave the stock a buy rating in a research note on Tuesday, August 29th. Finally, Barclays lifted their price target on shares of Pioneer Natural Resources from $147.00 to $156.00 and gave the stock an overweight rating in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $191.63.

Pioneer Natural Resources (NYSE:PXD) traded up $2.30 during midday trading on Tuesday, hitting $171.12. 1,440,250 shares of the stock were exchanged, compared to its average volume of 1,316,834. Pioneer Natural Resources has a twelve month low of $125.46 and a twelve month high of $199.83. The company has a current ratio of 1.69, a quick ratio of 1.58 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $28,727.31, a PE ratio of 237.67, a P/E/G ratio of 10.48 and a beta of 0.97.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Wednesday, November 1st. The oil and gas development company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. Pioneer Natural Resources had a net margin of 2.17% and a return on equity of 2.34%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. equities analysts forecast that Pioneer Natural Resources will post 1.58 earnings per share for the current fiscal year.

In other Pioneer Natural Resources news, CFO Richard P. Dealy sold 5,523 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $164.23, for a total transaction of $907,042.29. Following the completion of the sale, the chief financial officer now owns 76,297 shares in the company, valued at $12,530,256.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy L. Dove sold 5,560 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $160.66, for a total transaction of $893,269.60. Following the sale, the chief executive officer now owns 260,083 shares of the company’s stock, valued at approximately $41,784,934.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,116 shares of company stock valued at $5,633,412. 0.89% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Cadence Capital Management LLC grew its position in shares of Pioneer Natural Resources by 0.5% during the second quarter. Cadence Capital Management LLC now owns 6,003 shares of the oil and gas development company’s stock worth $958,000 after acquiring an additional 30 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Pioneer Natural Resources by 0.5% during the second quarter. Nordea Investment Management AB now owns 8,003 shares of the oil and gas development company’s stock worth $1,277,000 after acquiring an additional 41 shares during the last quarter. FTB Advisors Inc. grew its position in shares of Pioneer Natural Resources by 1.7% during the second quarter. FTB Advisors Inc. now owns 2,646 shares of the oil and gas development company’s stock worth $402,000 after acquiring an additional 43 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of Pioneer Natural Resources by 0.9% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 5,043 shares of the oil and gas development company’s stock worth $805,000 after acquiring an additional 43 shares during the last quarter. Finally, Intrust Bank NA grew its position in shares of Pioneer Natural Resources by 2.6% during the second quarter. Intrust Bank NA now owns 1,683 shares of the oil and gas development company’s stock worth $269,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.

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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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