Zacks Investment Research lowered shares of Pioneer Natural Resources (NYSE:PXD) from a buy rating to a hold rating in a research note issued to investors on Monday.
According to Zacks, “Pioneer remains focused on the Permian Basin, which is among the lucrative oil shale plays with less risk for operation. The region has been growing production even with reduced investment. Pioneer has strong earnings surprise history as reflected that the company managed to beat the Zacks Consensus Estimate in all the prior four quarters with an average positive surprise of 67.6%. Moreover, we appreciate the excellent financial health of the company. Pioneer Natural has debt to capitalization ratio of 21.2% which is much lower than 49.7% for the broader industry. However, we are concerned about the company’s expectation of higher exploration expenses during fourth-quarter 2017. Also, over the prior six months, the upstream energy player fell 5%, significantly underperforming the industry’s 6.6% gain. “
PXD has been the subject of several other research reports. Stifel Nicolaus set a $236.00 target price on shares of Pioneer Natural Resources and gave the company a buy rating in a research note on Tuesday, August 8th. Mizuho reissued a buy rating and issued a $196.00 price target on shares of Pioneer Natural Resources in a report on Friday, November 3rd. BMO Capital Markets set a $214.00 price objective on shares of Pioneer Natural Resources and gave the company a buy rating in a research note on Tuesday, August 8th. Citigroup reduced their price objective on shares of Pioneer Natural Resources from $190.00 to $165.00 and set a buy rating on the stock in a research note on Tuesday, August 15th. Finally, Williams Capital reduced their price target on shares of Pioneer Natural Resources from $165.00 to $162.00 and set a hold rating on the stock in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $194.20.
Shares of Pioneer Natural Resources (NYSE:PXD) traded up $3.59 during trading on Monday, reaching $154.25. The company had a trading volume of 1,302,400 shares, compared to its average volume of 1,844,234. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.58 and a current ratio of 1.69. The company has a market capitalization of $25,637.10, a price-to-earnings ratio of 105.36, a P/E/G ratio of 9.63 and a beta of 0.97. Pioneer Natural Resources has a 1 year low of $125.46 and a 1 year high of $199.83.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Wednesday, November 1st. The oil and gas development company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. Pioneer Natural Resources had a return on equity of 2.34% and a net margin of 2.17%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm posted $0.13 earnings per share. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. equities analysts anticipate that Pioneer Natural Resources will post 1.53 EPS for the current year.
In other news, Chairman Scott D. Sheffield sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $161.14, for a total value of $805,700.00. Following the completion of the transaction, the chairman now directly owns 585,466 shares in the company, valued at $94,341,991.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Teresa A. Fairbrook sold 880 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $130.49, for a total transaction of $114,831.20. Following the sale, the vice president now owns 7,648 shares of the company’s stock, valued at $997,987.52. The disclosure for this sale can be found here. Insiders sold 23,072 shares of company stock valued at $3,644,749 in the last quarter. Corporate insiders own 0.89% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Hellman Jordan Management Co. Inc. MA lifted its holdings in shares of Pioneer Natural Resources by 43.0% in the 3rd quarter. Hellman Jordan Management Co. Inc. MA now owns 5,275 shares of the oil and gas development company’s stock worth $778,000 after acquiring an additional 1,587 shares during the last quarter. AXA increased its position in Pioneer Natural Resources by 17.7% during the 3rd quarter. AXA now owns 164,367 shares of the oil and gas development company’s stock valued at $24,251,000 after purchasing an additional 24,736 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter valued at $176,000. Atlantic Trust LLC boosted its holdings in shares of Pioneer Natural Resources by 22.0% during the 3rd quarter. Atlantic Trust LLC now owns 2,575 shares of the oil and gas development company’s stock valued at $380,000 after buying an additional 465 shares in the last quarter. Finally, Hahn Capital Management LLC boosted its holdings in shares of Pioneer Natural Resources by 0.9% during the 3rd quarter. Hahn Capital Management LLC now owns 184,426 shares of the oil and gas development company’s stock valued at $27,210,000 after buying an additional 1,637 shares in the last quarter. Institutional investors and hedge funds own 90.89% of the company’s stock.
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Pioneer Natural Resources Company Profile
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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