Pioneer Natural Resources (NYSE:PXD) Raised to “Hold” at ValuEngine

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ValuEngine upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

PXD has been the topic of a number of other research reports. KeyCorp upped their target price on shares of Pioneer Natural Resources from $168.00 to $172.00 and gave the company an overweight rating in a research note on Tuesday, October 15th. SunTrust Banks decreased their price target on Pioneer Natural Resources to $130.00 and set a hold rating for the company in a research note on Thursday, August 8th. Howard Weil assumed coverage on Pioneer Natural Resources in a research note on Wednesday, November 13th. They issued a sector perform rating for the company. Citigroup reissued a buy rating and issued a $175.00 price objective (up from $173.00) on shares of Pioneer Natural Resources in a report on Wednesday, November 13th. Finally, Wells Fargo & Co upped their price objective on Pioneer Natural Resources from $190.00 to $191.00 and gave the company an outperform rating in a research note on Friday, September 20th. Five research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $183.58.

Shares of PXD stock traded up $5.59 during mid-day trading on Tuesday, reaching $133.90. 1,550,236 shares of the company were exchanged, compared to its average volume of 1,730,949. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.78. The business’s 50 day simple moving average is $129.89 and its 200 day simple moving average is $134.69. The company has a market capitalization of $21.57 billion, a P/E ratio of 21.22, a P/E/G ratio of 0.94 and a beta of 1.21. Pioneer Natural Resources has a fifty-two week low of $114.79 and a fifty-two week high of $178.22.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Monday, November 4th. The oil and gas development company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.03). The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.32 billion. Pioneer Natural Resources had a net margin of 7.88% and a return on equity of 9.86%. The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.07 earnings per share. On average, analysts forecast that Pioneer Natural Resources will post 8.07 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.44 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.31%. Pioneer Natural Resources’s payout ratio is currently 13.95%.

In other news, EVP Chris J. Cheatwood sold 5,619 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $140.35, for a total transaction of $788,626.65. Following the completion of the transaction, the executive vice president now directly owns 39,027 shares of the company’s stock, valued at $5,477,439.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Man Group plc lifted its stake in Pioneer Natural Resources by 40.3% in the third quarter. Man Group plc now owns 53,484 shares of the oil and gas development company’s stock valued at $6,726,000 after buying an additional 15,352 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Pioneer Natural Resources by 2.9% in the 3rd quarter. Squarepoint Ops LLC now owns 43,550 shares of the oil and gas development company’s stock worth $5,477,000 after acquiring an additional 1,212 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Pioneer Natural Resources in the 3rd quarter worth about $7,353,000. Worldquant Millennium Advisors LLC acquired a new stake in shares of Pioneer Natural Resources in the 3rd quarter worth about $1,871,000. Finally, National Pension Service lifted its position in Pioneer Natural Resources by 5.2% in the 3rd quarter. National Pension Service now owns 205,254 shares of the oil and gas development company’s stock valued at $25,815,000 after purchasing an additional 10,108 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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