Seaport Global Securities Equities Analysts Raise Earnings Estimates for Pioneer Natural Resources (PXD)

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Pioneer Natural Resources (NYSE:PXD) – Investment analysts at Seaport Global Securities raised their Q2 2019 earnings per share estimates for shares of Pioneer Natural Resources in a research report issued to clients and investors on Monday, February 11th. Seaport Global Securities analyst J. Aschenbeck now forecasts that the oil and gas development company will post earnings per share of $2.07 for the quarter, up from their prior forecast of $2.04. Seaport Global Securities has a “Buy” rating and a $215.00 price target 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.

A number of other analysts also recently weighed in on the stock. Imperial Capital set a $198.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Friday, February 8th. Mitsubishi UFJ Financial Group upped their target price on shares of Pioneer Natural Resources to $227.00 and gave the stock an “overweight” rating in a research report on Monday, February 4th. Morgan Stanley set a $185.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Raymond James set a $250.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Finally, Barclays set a $190.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $225.48.

NYSE:PXD opened at $145.95 on Tuesday. The stock has a market capitalization of $23.13 billion, a PE ratio of 67.57, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The company has a current ratio of 1.20, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. Pioneer Natural Resources has a 1-year low of $119.08 and a 1-year high of $213.40.

Institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC bought a new position in Pioneer Natural Resources during the 4th quarter valued at about $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 valued at $47,000 after acquiring an additional 152 shares during the period. 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 valued at $48,000 after acquiring an additional 152 shares during the period. We Are One Seven LLC bought a new position in Pioneer Natural Resources during the 4th quarter valued at 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 valued at $74,000 after acquiring an additional 202 shares during the period. Institutional investors own 88.55% of the company’s stock.

In other news, Director Andrew F. Cates purchased 790 shares of the company’s stock in a transaction that occurred on Thursday, December 27th. The shares were bought at an average price of $124.27 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy L. Dove sold 4,800 shares of the company’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $134.18, for a total transaction of $644,064.00. Following the completion of the transaction, the chief executive officer now owns 276,901 shares in the company, valued at approximately $37,154,576.18. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

Pioneer Natural Resources declared that its board has initiated a stock buyback plan on Thursday, December 13th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas development company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Pioneer Natural Resources Company Profile

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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Earnings History and Estimates for Pioneer Natural Resources (NYSE:PXD)

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