Zacks Investment Research upgraded shares of Pioneer Natural Resources Company (NYSE:PXD) from a hold rating to a buy rating in a report published on Friday. The brokerage currently has $180.00 price objective on the oil and gas development company’s stock.

According to Zacks, “Pioneer remains focused on the Permian Basin, which is among the lucrative oil shale plays with less risk for operation. The region has been growing production even with reduced investment. Moreover, we appreciate the excellent financial health of the company. Pioneer Natural has debt to capitalization ratio of 17.7% which is much lower than 49.5% for the broader industry.  On top of that, the company outperformed the industry over the last three months. The company also beat the Zacks Consensus Estimate in all of the last four quarters with an average positive earnings surprise of 67.62%.  Moreover, we appreciate Pioneer Natural’s strong financial position with less debt and more cash in hand.”

A number of other analysts have also commented on PXD. BMO Capital Markets decreased their price objective on Pioneer Natural Resources from $240.00 to $230.00 and set an outperform rating for the company in a report on Friday, July 14th. Stifel Nicolaus reissued a buy rating and set a $268.00 price objective on shares of Pioneer Natural Resources in a report on Friday, July 14th. Cowen and Company set a $210.00 price objective on Pioneer Natural Resources and gave the stock a buy rating in a report on Wednesday, July 19th. Citigroup Inc. decreased their price objective on Pioneer Natural Resources from $210.00 to $190.00 and set a buy rating for the company in a report on Friday, July 21st. Finally, BidaskClub lowered Pioneer Natural Resources from a sell rating to a strong sell rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company. Pioneer Natural Resources presently has a consensus rating of Buy and a consensus price target of $194.07.

Pioneer Natural Resources (PXD) traded down $1.24 during mid-day trading on Friday, reaching $157.69. The company had a trading volume of 481,842 shares, compared to its average volume of 1,894,526. Pioneer Natural Resources has a fifty-two week low of $125.46 and a fifty-two week high of $199.83. The company has a current ratio of 1.69, a quick ratio of 1.58 and a debt-to-equity ratio of 0.22. The firm has a market cap of $26,710.00, a P/E ratio of 111.14, a P/E/G ratio of 11.11 and a beta of 0.96.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas development company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.15 billion. Pioneer Natural Resources had a return on equity of 2.34% and a net margin of 2.17%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. equities analysts predict that Pioneer Natural Resources will post 1.4 EPS for the current year.

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In related news, Director J Kenneth Thompson bought 750 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $133.40 per share, for a total transaction of $100,050.00. Following the completion of the transaction, the director now directly owns 10,865 shares in the company, valued at approximately $1,449,391. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kenneth H. Sheffield, Jr. sold 3,250 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $157.57, for a total value of $512,102.50. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its position in shares of Pioneer Natural Resources by 1.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 247,807 shares of the oil and gas development company’s stock worth $36,561,000 after buying an additional 4,040 shares in the last quarter. Murphy Capital Management Inc. raised its position in shares of 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 worth $18,364,000 after buying an additional 4,980 shares in the last quarter. Summit Global Investments raised its position in shares of Pioneer Natural Resources by 83.4% in the second quarter. Summit Global Investments now owns 9,178 shares of the oil and gas development company’s stock worth $1,465,000 after buying an additional 4,173 shares in the last quarter. State of Tennessee Treasury Department raised its position in shares of Pioneer Natural Resources by 66.4% in the second quarter. State of Tennessee Treasury Department now owns 191,154 shares of the oil and gas development company’s stock worth $30,504,000 after buying an additional 76,268 shares in the last quarter. Finally, First Washington CORP raised its position in shares of Pioneer Natural Resources by 34.0% in the second quarter. First Washington CORP now owns 16,385 shares of the oil and gas development company’s stock worth $2,615,000 after buying an additional 4,160 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

Pioneer Natural Resources Company Profile

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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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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