Pioneer Natural Resources (PXD) Upgraded by SunTrust Banks to Buy

SunTrust Banks upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a hold rating to a buy rating in a research note released on Monday morning, MarketBeat.com reports. The firm currently has $235.00 price objective on the oil and gas development company’s stock.

Other analysts have also issued reports about the stock. TheStreet upgraded shares of Pioneer Natural Resources from a c rating to a b rating in a research report on Tuesday, February 6th. Cowen set a $225.00 price target on shares of Pioneer Natural Resources and gave the company a buy rating in a research report on Thursday, January 18th. Mizuho set a $202.00 price target on shares of Pioneer Natural Resources and gave the company a buy rating in a research report on Tuesday, January 16th. BMO Capital Markets reiterated a buy rating and issued a $225.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, January 11th. Finally, Piper Jaffray reiterated a buy rating and issued a $207.00 price target on shares of Pioneer Natural Resources in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $215.88.

How to Become a New Pot Stock Millionaire

PXD stock opened at $191.13 on Monday. The company has a market capitalization of $32,071.05, a PE ratio of 87.18, a price-to-earnings-growth ratio of 2.29 and a beta of 0.95. Pioneer Natural Resources has a 12 month low of $125.46 and a 12 month high of $191.89. The company has a current ratio of 1.41, a quick ratio of 1.31 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 the consensus estimate of $0.59 by $0.63. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The company’s quarterly revenue was up 48.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. equities analysts anticipate that Pioneer Natural Resources will post 6.47 EPS for the current fiscal year.

The business also recently declared a semiannual dividend, which was paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th were issued a $0.16 dividend. This represents a dividend yield of 0.18%. The ex-dividend date was Wednesday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio (DPR) is 14.81%.

Pioneer Natural Resources declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas development company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 2,000 shares of Pioneer Natural Resources stock in a transaction on Monday, February 12th. The shares were sold at an average price of $170.93, for a total value of $341,860.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Chris J. Cheatwood sold 9,513 shares of Pioneer Natural Resources stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $175.93, for a total transaction of $1,673,622.09. Following the completion of the transaction, the executive vice president now owns 42,931 shares in the company, valued at approximately $7,552,850.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,207 shares of company stock worth $3,219,653. 0.92% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of PXD. BlackRock Inc. raised its stake in shares of Pioneer Natural Resources by 11.4% in the 4th quarter. BlackRock Inc. now owns 13,552,443 shares of the oil and gas development company’s stock valued at $2,342,540,000 after acquiring an additional 1,389,479 shares during the period. Boston Partners raised its stake in shares of Pioneer Natural Resources by 51.2% in the 4th quarter. Boston Partners now owns 2,262,356 shares of the oil and gas development company’s stock valued at $391,048,000 after acquiring an additional 766,124 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Pioneer Natural Resources by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,683,875 shares of the oil and gas development company’s stock valued at $463,908,000 after acquiring an additional 329,971 shares during the period. Bank of Montreal Can raised its stake in shares of Pioneer Natural Resources by 151.4% in the 4th quarter. Bank of Montreal Can now owns 363,814 shares of the oil and gas development company’s stock valued at $62,886,000 after acquiring an additional 219,126 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Pioneer Natural Resources in the 4th quarter valued at $34,587,000. 89.40% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Pioneer Natural Resources (PXD) Upgraded by SunTrust Banks to Buy” was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.chaffeybreeze.com/2018/04/17/pioneer-natural-resources-pxd-upgraded-by-suntrust-banks-to-buy.html.

About Pioneer Natural Resources

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 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)

Receive News & Ratings for Pioneer Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply