Pioneer Natural Resources (NYSE:PXD) Price Target Increased to $278.00 by Analysts at Susquehanna

Pioneer Natural Resources (NYSE:PXD) had its price target raised by equities researchers at Susquehanna from $246.00 to $278.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas development company’s stock. Susquehanna’s price objective suggests a potential upside of 1.05% from the company’s current price.

A number of other research firms have also issued reports on PXD. Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Stifel Nicolaus lowered their target price on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating on the stock in a report on Tuesday, January 23rd. Scotiabank increased their price target on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $279.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Finally, StockNews.com started coverage on Pioneer Natural Resources in a research report on Sunday. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $264.10.

Pioneer Natural Resources Price Performance

Shares of PXD opened at $275.12 on Monday. The stock’s fifty day moving average is $252.53 and its 200-day moving average is $239.17. The firm has a market capitalization of $64.27 billion, a price-to-earnings ratio of 13.59 and a beta of 1.31. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. Pioneer Natural Resources’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.91 earnings per share. Equities analysts anticipate that Pioneer Natural Resources will post 21.5 EPS for the current year.

Insider Activity

In other news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the sale, the chief accounting officer now directly owns 4,990 shares in the company, valued at approximately $1,302,140.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director J Kenneth Thompson sold 1,000 shares of Pioneer Natural Resources stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the completion of the sale, the director now directly owns 16,070 shares in the company, valued at approximately $4,017,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the completion of the sale, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock worth $9,067,373 in the last three months. 0.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Pioneer Natural Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. lifted its holdings in Pioneer Natural Resources by 61.1% in the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after purchasing an additional 44 shares during the last quarter. Sachetta LLC acquired a new stake in Pioneer Natural Resources in the 4th quarter worth approximately $27,000. BluePath Capital Management LLC acquired a new stake in Pioneer Natural Resources in the 3rd quarter worth approximately $29,000. Carmel Capital Partners LLC acquired a new stake in Pioneer Natural Resources in the 3rd quarter worth approximately $34,000. Finally, Jones Financial Companies Lllp lifted its holdings in Pioneer Natural Resources by 85.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock worth $34,000 after purchasing an additional 68 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.