Pioneer Natural Resources Company (PXD) Rating Reiterated by Cowen and Company

Pioneer Natural Resources Company (NYSE:PXD)‘s stock had its “buy” rating reiterated by investment analysts at Cowen and Company in a research note issued to investors on Sunday. They presently have a $210.00 target price on the oil and gas development company’s stock. Cowen and Company’s price objective points to a potential upside of 53.36% from the company’s previous close.

Other analysts have also issued reports about the stock. Scotiabank set a $210.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Saturday, July 1st. Royal Bank Of Canada set a $233.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Saturday, June 17th. Citigroup Inc. lowered their target price on shares of Pioneer Natural Resources from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Stifel Nicolaus reissued a “buy” rating and set a $268.00 target price on shares of Pioneer Natural Resources in a research note on Friday, July 14th. Finally, Barclays PLC set a $136.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $204.40.

Shares of Pioneer Natural Resources (NYSE PXD) opened at 136.93 on Friday. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $199.83. The stock has a 50 day moving average of $134.84 and a 200 day moving average of $163.19. The stock has a market capitalization of $23.29 billion, a PE ratio of 138.17 and a beta of 0.94.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.10. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.06 billion. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. The business’s revenue was up 107.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.22) earnings per share. Analysts forecast that Pioneer Natural Resources will post $1.12 earnings per share for the current year.

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In other Pioneer Natural Resources news, Director Andrew F. Cates purchased 350 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $135.37 per share, for a total transaction of $47,379.50. Following the acquisition, the director now owns 14,556 shares in the company, valued at $1,970,445.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Kenneth Thompson purchased 750 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average price of $133.40 per share, for a total transaction of $100,050.00. Following the acquisition, the director now owns 10,865 shares in the company, valued at approximately $1,449,391. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,200 shares of company stock worth $161,102. 0.89% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Pioneer Natural Resources by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,123,810 shares of the oil and gas development company’s stock worth $1,934,718,000 after buying an additional 295,861 shares during the period. BlackRock Inc. increased its holdings in Pioneer Natural Resources by 2,397.3% in the 1st quarter. BlackRock Inc. now owns 11,376,848 shares of the oil and gas development company’s stock worth $2,118,708,000 after buying an additional 10,921,279 shares during the period. FMR LLC increased its holdings in Pioneer Natural Resources by 18.3% in the 1st quarter. FMR LLC now owns 8,424,493 shares of the oil and gas development company’s stock worth $1,568,894,000 after buying an additional 1,304,274 shares during the period. Capital World Investors increased its holdings in Pioneer Natural Resources by 45.4% in the 2nd quarter. Capital World Investors now owns 8,005,002 shares of the oil and gas development company’s stock worth $1,277,438,000 after buying an additional 2,500,000 shares during the period. Finally, Carmignac Gestion increased its holdings in Pioneer Natural Resources by 10.7% in the 2nd quarter. Carmignac Gestion now owns 3,028,974 shares of the oil and gas development company’s stock worth $483,364,000 after buying an additional 292,612 shares during the period. Institutional investors own 91.58% 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.

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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