Pioneer Natural Resources (NYSE:PXD) Rating Reiterated by Susquehanna Bancshares

Pioneer Natural Resources (NYSE:PXD)‘s stock had its “neutral” rating restated by investment analysts at Susquehanna Bancshares in a report issued on Wednesday, January 17th, Marketbeat Ratings reports. They presently have a $207.00 price target on the oil and gas development company’s stock. Susquehanna Bancshares’ price objective indicates a potential upside of 25.42% from the stock’s previous close.

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 began coverage on Pioneer Natural Resources in a research note on Monday, December 11th. They issued an “outperform” rating and a $192.00 price objective on the stock. 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. Finally, Williams Capital dropped their price objective on Pioneer Natural Resources from $165.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $207.88.

Pioneer Natural Resources (PXD) traded down $4.11 during midday trading on Wednesday, hitting $165.05. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $199.83. The firm has a market cap of $28,090.00, a P/E ratio of 33.68, a PEG ratio of 2.98 and a beta of 0.92. The company has a current ratio of 1.41, a quick ratio of 1.58 and a debt-to-equity ratio of 0.20.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.63. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.39 billion. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The business’s revenue was up 48.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 EPS. sell-side analysts anticipate that Pioneer Natural Resources will post 5.39 earnings per share for the current year.

Pioneer Natural Resources declared that its board has initiated a stock repurchase plan on Tuesday, February 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, EVP Chris J. Cheatwood sold 2,201 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $167.82, for a total value of $369,371.82. Following the completion of the transaction, the executive vice president now directly owns 42,909 shares of the company’s stock, valued at $7,200,988.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $172.60, for a total value of $310,680.00. Following the completion of the transaction, the executive vice president now directly owns 22,964 shares of the company’s stock, valued at $3,963,586.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,106 shares of company stock valued at $4,444,339. 0.89% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PXD. Oppenheimer Asset Management Inc. grew its holdings in Pioneer Natural Resources by 40.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,289 shares of the oil and gas development company’s stock valued at $206,000 after purchasing an additional 371 shares during the period. Commonwealth Bank of Australia grew its holdings in Pioneer Natural Resources by 10.8% during the second quarter. Commonwealth Bank of Australia now owns 690 shares of the oil and gas development company’s stock valued at $108,000 after purchasing an additional 67 shares during the period. Raymond James Trust N.A. grew its holdings in Pioneer Natural Resources by 38.0% during the second quarter. Raymond James Trust N.A. now owns 1,678 shares of the oil and gas development company’s stock valued at $268,000 after purchasing an additional 462 shares during the period. Stevens Capital Management LP grew its holdings in Pioneer Natural Resources by 27.4% during the second quarter. Stevens Capital Management LP now owns 17,586 shares of the oil and gas development company’s stock valued at $2,806,000 after purchasing an additional 3,786 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Pioneer Natural Resources by 1.1% during the second quarter. ProShare Advisors LLC now owns 33,807 shares of the oil and gas development company’s stock valued at $5,395,000 after purchasing an additional 373 shares during the period. 90.97% of the stock is owned by institutional investors and hedge funds.

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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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