Pioneer Natural Resources Company (PXD) Price Target Cut to $165.00 by Analysts at Citigroup Inc.
Pioneer Natural Resources Company (NYSE:PXD) had its target price trimmed by Citigroup Inc. from $190.00 to $165.00 in a research note published on Tuesday. The brokerage currently has a buy rating on the oil and gas development company’s stock.
A number of other brokerages also recently commented on PXD. Credit Suisse Group restated a buy rating on shares of Pioneer Natural Resources in a research note on Monday, May 15th. Scotiabank restated a buy rating and issued a $245.00 target price on shares of Pioneer Natural Resources in a research note on Friday, May 5th. KLR Group lifted their target price on Pioneer Natural Resources from $234.00 to $240.00 and gave the company a buy rating in a research note on Tuesday, May 9th. Royal Bank Of Canada set a $233.00 target price on Pioneer Natural Resources and gave the company a buy rating in a research note on Saturday, June 17th. Finally, Cowen and Company set a $210.00 target price on Pioneer Natural Resources and gave the company a buy rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $210.71.
Pioneer Natural Resources (NYSE PXD) traded up 0.30% during mid-day trading on Tuesday, reaching $134.10. The company’s stock had a trading volume of 101,478 shares. The stock’s 50-day moving average is $153.34 and its 200-day moving average is $171.87. Pioneer Natural Resources has a 12 month low of $128.50 and a 12 month high of $199.83. The firm has a market capitalization of $22.81 billion, a PE ratio of 135.32 and a beta of 0.91.
Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.10. Pioneer Natural Resources had a return on equity of 1.79% and a net margin of 3.10%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted ($0.22) earnings per share. Pioneer Natural Resources’s quarterly revenue was up 107.4% compared to the same quarter last year. On average, equities analysts anticipate that Pioneer Natural Resources will post $1.13 EPS for the current year.
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In related news, Director Andrew F. Cates purchased 350 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $135.37 per share, for a total transaction of $47,379.50. Following the acquisition, the director now directly owns 14,556 shares in the company, valued at approximately $1,970,445.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Kenneth Thompson purchased 750 shares of the stock in a transaction dated Tuesday, August 15th. The shares were bought at an average price of $133.40 per share, for a total transaction of $100,050.00. Following the completion of the acquisition, the director now owns 10,865 shares in the company, valued at $1,449,391. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,200 shares of company stock worth $161,102. Corporate insiders own 0.92% of the company’s stock.
Several institutional investors have recently bought and sold shares of PXD. CWM LLC boosted its position in Pioneer Natural Resources by 6.2% in the first quarter. CWM LLC now owns 7,441 shares of the oil and gas development company’s stock valued at $1,386,000 after buying an additional 432 shares in the last quarter. Independence Advisors LLC bought a new position in Pioneer Natural Resources during the second quarter valued at approximately $822,000. Capital Advisors Inc. OK bought a new position in Pioneer Natural Resources during the first quarter valued at approximately $660,000. Murphy Capital Management Inc. boosted its position in Pioneer Natural Resources by 4.5% in the second quarter. Murphy Capital Management Inc. now owns 115,080 shares of the oil and gas development company’s stock valued at $18,364,000 after buying an additional 4,980 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Pioneer Natural Resources by 2,397.3% in the first quarter. BlackRock Inc. now owns 11,376,848 shares of the oil and gas development company’s stock valued at $2,118,708,000 after buying an additional 10,921,279 shares in the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.
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.
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