Pioneer Natural Resources (PXD) Upgraded to “Buy” by NatAlliance Securities
Pioneer Natural Resources (NYSE:PXD) was upgraded by NatAlliance Securities from a “hold” rating to a “buy” rating in a research report issued on Monday.
A number of other research analysts also recently weighed in on the company. Piper Jaffray Companies set a $226.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus set a $260.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a report on Wednesday, February 7th. TheStreet upgraded Pioneer Natural Resources from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. Imperial Capital upped their price target on Pioneer Natural Resources from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Jefferies Group restated a “buy” rating and issued a $238.00 price target on shares of Pioneer Natural Resources in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $207.88.
Pioneer Natural Resources (NYSE PXD) traded up $4.54 during mid-day trading on Monday, hitting $169.59. The company’s stock had a trading volume of 144,182 shares, compared to its average volume of 1,853,103. Pioneer Natural Resources has a 1 year low of $125.46 and a 1 year high of $199.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.31. The stock has a market cap of $28,090.00, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 2.84 and a beta of 0.92.
Pioneer Natural Resources declared that its board has initiated a stock repurchase plan on Tuesday, February 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, SVP Mark H. Kleinman sold 2,582 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $158.37, for a total value of $408,911.34. Following the transaction, the senior vice president now directly owns 12,861 shares of the company’s stock, valued at approximately $2,036,796.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $155.23, for a total value of $279,414.00. The disclosure for this sale can be found here. Insiders sold a total of 27,106 shares of company stock worth $4,444,339 over the last ninety days. 0.89% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. WFG Advisors LP lifted its holdings in shares of Pioneer Natural Resources by 10.2% during the 2nd quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock valued at $176,000 after buying an additional 102 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Pioneer Natural Resources during the 3rd quarter valued at $176,000. Shelton Capital Management bought a new position in shares of Pioneer Natural Resources during the 2nd quarter valued at $205,000. Cetera Investment Advisers bought a new position in shares of Pioneer Natural Resources during the 2nd quarter valued at $206,000. Finally, Savant Capital LLC bought a new position in shares of Pioneer Natural Resources during the 4th quarter valued at $208,000. 90.58% of the stock is currently owned by institutional investors and hedge funds.
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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.
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