Jefferies Group Reaffirms Buy Rating for Pioneer Natural Resources (PXD)

Pioneer Natural Resources (NYSE:PXD)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group in a note issued to investors on Thursday. They currently have a $240.00 target price on the oil and gas development company’s stock. Jefferies Group’s price target suggests a potential upside of 20.66% from the stock’s current price. Jefferies Group also issued estimates for Pioneer Natural Resources’ Q2 2018 earnings at $1.43 EPS, Q3 2018 earnings at $1.53 EPS, Q4 2018 earnings at $1.62 EPS, FY2018 earnings at $6.01 EPS, Q1 2019 earnings at $1.71 EPS, Q2 2019 earnings at $1.82 EPS, Q3 2019 earnings at $2.00 EPS, Q4 2019 earnings at $2.14 EPS, FY2019 earnings at $7.67 EPS, Q1 2020 earnings at $2.67 EPS and FY2020 earnings at $11.60 EPS.

Several other research analysts have also weighed in on the stock. Piper Jaffray reissued a “buy” rating and set a $207.00 price objective on shares of Pioneer Natural Resources in a research note on Tuesday, January 9th. ValuEngine lowered shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. BMO Capital Markets reissued a “buy” rating and set a $225.00 price objective on shares of Pioneer Natural Resources in a research note on Thursday, January 11th. Credit Suisse Group set a $218.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, KeyCorp set a $195.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Sunday, January 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Pioneer Natural Resources currently has a consensus rating of “Buy” and an average price target of $216.91.

Shares of NYSE:PXD opened at $198.90 on Thursday. The stock has a market cap of $33,389.17, a price-to-earnings ratio of 92.08, a P/E/G ratio of 2.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.41. Pioneer Natural Resources has a 12 month low of $125.46 and a 12 month high of $199.68.



Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.63. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm earned $0.49 EPS. The company’s revenue for the quarter was up 48.4% on a year-over-year basis. analysts expect that Pioneer Natural Resources will post 6.65 earnings per share for the current fiscal year.

Pioneer Natural Resources announced that its board has initiated a share buyback plan on Tuesday, February 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, EVP Chris J. Cheatwood sold 9,513 shares of Pioneer Natural Resources stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $175.93, for a total value of $1,673,622.09. Following the sale, the executive vice president now directly owns 42,931 shares in the company, valued at $7,552,850.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Teresa A. Fairbrook sold 2,134 shares of Pioneer Natural Resources stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $180.00, for a total transaction of $384,120.00. Following the completion of the sale, the vice president now owns 10,284 shares in the company, valued at $1,851,120. The disclosure for this sale can be found here. Insiders sold 18,207 shares of company stock worth $3,219,653 over the last quarter. 0.92% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in shares of Pioneer Natural Resources in the fourth quarter valued at approximately $104,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Pioneer Natural Resources in the fourth quarter valued at approximately $129,000. Banco de Sabadell S.A acquired a new stake in shares of Pioneer Natural Resources in the fourth quarter valued at approximately $147,000. Guardian Capital Advisors LP acquired a new stake in shares of Pioneer Natural Resources in the fourth quarter valued at approximately $215,000. Finally, Savant Capital LLC acquired a new stake in shares of Pioneer Natural Resources in the fourth quarter valued at approximately $208,000. Institutional investors own 89.50% of the company’s stock.

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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.

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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