Analysts Set Pioneer Natural Resources (NYSE:PXD) Price Target at $178.33

Pioneer Natural Resources (NYSE:PXD) has received a consensus rating of “Buy” from the thirty brokerages that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $178.74.

A number of analysts have recently commented on the company. MKM Partners lifted their price target on Pioneer Natural Resources from $207.00 to $220.00 in a research note on Monday, April 5th. Wolfe Research restated a “peer perform” rating and set a $167.00 price objective (down from $188.00) on shares of Pioneer Natural Resources in a research report on Thursday, April 29th. Morgan Stanley raised their price objective on Pioneer Natural Resources from $160.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Monday, April 5th. Truist Securities restated a “hold” rating and set a $190.00 price objective on shares of Pioneer Natural Resources in a research report on Wednesday, May 12th. Finally, TD Securities raised their price objective on Pioneer Natural Resources from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, May 5th.

In other Pioneer Natural Resources news, CEO Scott D. Sheffield sold 29,882 shares of the business’s stock in a transaction on Friday, March 5th. The stock was sold at an average price of $162.73, for a total value of $4,862,697.86. Following the sale, the chief executive officer now directly owns 456,949 shares in the company, valued at $74,359,310.77. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J Kenneth Thompson sold 1,500 shares of the business’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $165.76, for a total value of $248,640.00. Following the completion of the sale, the director now owns 15,669 shares in the company, valued at $2,597,293.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,338 shares of company stock worth $8,536,408. Corporate insiders own 0.91% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Vantage Consulting Group Inc bought a new stake in shares of Pioneer Natural Resources during the 4th quarter valued at $26,000. Childress Capital Advisors LLC bought a new stake in shares of Pioneer Natural Resources during the 4th quarter valued at $28,000. Contravisory Investment Management Inc. bought a new stake in shares of Pioneer Natural Resources during the 1st quarter valued at $28,000. Essex Investment Management Co. LLC bought a new stake in shares of Pioneer Natural Resources during the 1st quarter valued at $30,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Pioneer Natural Resources by 82.6% during the 1st quarter. Parkside Financial Bank & Trust now owns 199 shares of the oil and gas development company’s stock valued at $32,000 after purchasing an additional 90 shares during the period. Institutional investors own 89.92% of the company’s stock.

Shares of PXD stock traded up $3.44 during mid-day trading on Wednesday, reaching $160.49. 91,800 shares of the stock traded hands, compared to its average volume of 2,637,866. The stock’s fifty day simple moving average is $155.48 and its two-hundred day simple moving average is $130.61. Pioneer Natural Resources has a 1-year low of $76.58 and a 1-year high of $175.37. The company has a market cap of $39.15 billion, a price-to-earnings ratio of 153.98, a price-to-earnings-growth ratio of 2.72 and a beta of 1.92. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, May 4th. The oil and gas development company reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.35. Pioneer Natural Resources had a return on equity of 4.67% and a net margin of 2.30%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts anticipate that Pioneer Natural Resources will post 1.59 EPS for the current fiscal year.

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 in the Permian Basin in West Texas. As of December 31, 2020, the company had proved undeveloped reserves and proved developed non-producing reserves of 31 million barrels of oil, 17 million barrels of NGLs, and 88 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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