ValuEngine Lowers Pioneer Natural Resources (PXD) to Sell

Pioneer Natural Resources (NYSE:PXD) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other analysts have also recently commented on PXD. TD Securities initiated coverage on shares of Pioneer Natural Resources in a research note on Thursday, July 5th. They issued a “buy” rating and a $240.00 target price for the company. Morgan Stanley initiated coverage on shares of Pioneer Natural Resources in a research note on Thursday, July 12th. They issued an “overweight” rating and a $240.00 target price for the company. Royal Bank of Canada restated a “buy” rating and issued a $245.00 target price on shares of Pioneer Natural Resources in a research note on Friday, July 13th. Jefferies Financial Group set a $244.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Finally, Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $203.00 target price for the company in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $233.93.

Shares of PXD stock traded down $2.68 during mid-day trading on Thursday, hitting $146.90. The stock had a trading volume of 1,389,807 shares, compared to its average volume of 1,640,563. Pioneer Natural Resources has a fifty-two week low of $140.54 and a fifty-two week high of $213.40. The stock has a market capitalization of $25.09 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 1.09.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, August 7th. The oil and gas development company reported $1.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.08). Pioneer Natural Resources had a return on equity of 7.29% and a net margin of 12.23%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.27 billion. Equities analysts forecast that Pioneer Natural Resources will post 6.89 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in PXD. FMR LLC increased its holdings in Pioneer Natural Resources by 27.9% during the 2nd quarter. FMR LLC now owns 6,431,051 shares of the oil and gas development company’s stock valued at $1,217,012,000 after acquiring an additional 1,401,626 shares in the last quarter. BlackRock Inc. increased its holdings in Pioneer Natural Resources by 9.1% during the 2nd quarter. BlackRock Inc. now owns 12,425,606 shares of the oil and gas development company’s stock valued at $2,351,423,000 after acquiring an additional 1,032,381 shares in the last quarter. Bessemer Group Inc. increased its holdings in Pioneer Natural Resources by 892.8% during the 2nd quarter. Bessemer Group Inc. now owns 844,901 shares of the oil and gas development company’s stock valued at $159,889,000 after acquiring an additional 759,801 shares in the last quarter. PointState Capital LP purchased a new position in Pioneer Natural Resources during the 2nd quarter valued at about $83,764,000. Finally, Morgan Stanley increased its holdings in Pioneer Natural Resources by 39.3% during the 2nd quarter. Morgan Stanley now owns 961,513 shares of the oil and gas development company’s stock valued at $181,958,000 after acquiring an additional 271,144 shares in the last quarter. Institutional investors and hedge funds own 88.87% of the company’s stock.

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 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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