Pioneer Natural Resources (NYSE:PXD) received a $226.00 price objective from stock analysts at Piper Jaffray Companies in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the oil and gas development company’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 36.93% from the stock’s current price.
Other research analysts also recently issued reports about the company. Mizuho reissued a “buy” rating and issued a $196.00 price objective on shares of Pioneer Natural Resources in a research note on Friday, November 3rd. JPMorgan Chase & Co. set a $185.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Credit Suisse Group assumed coverage on Pioneer Natural Resources in a research note on Monday, December 11th. They issued an “outperform” rating and a $192.00 price objective for the company. Imperial Capital increased their price objective on Pioneer Natural Resources from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, KeyCorp set a $180.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Saturday, October 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company. Pioneer Natural Resources has a consensus rating of “Buy” and a consensus price target of $207.88.
Pioneer Natural Resources (NYSE:PXD) opened at $165.05 on Friday. Pioneer Natural Resources has a 52 week low of $125.46 and a 52 week high of $199.83. The company has a quick ratio of 1.58, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $27,400.00, a price-to-earnings ratio of 33.68, a P/E/G ratio of 3.05 and a beta of 0.92.
Pioneer Natural Resources announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
In other news, EVP Mark Stephen Berg sold 2,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 48,719 shares in the company, valued at approximately $7,525,623.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $155.23, for a total value of $279,414.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,106 shares of company stock valued at $4,444,339. 0.89% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFG Advisors LP grew its holdings in shares of Pioneer Natural Resources by 10.2% during the 2nd quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock worth $176,000 after purchasing an additional 102 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Pioneer Natural Resources during the 3rd quarter worth $176,000. GeoSphere Capital Management purchased a new position in shares of Pioneer Natural Resources during the 2nd quarter worth $199,000. Shelton Capital Management purchased a new position in shares of Pioneer Natural Resources during the 2nd quarter worth $205,000. Finally, Cetera Investment Advisers purchased a new position in shares of Pioneer Natural Resources during the 2nd quarter worth $206,000. Institutional investors and hedge funds own 90.97% of the company’s stock.
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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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