Pioneer Natural Resources (PXD) Upgraded to Buy by National Alliance Securities

National Alliance Securities upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a hold rating to a buy rating in a research note released on Monday morning.

Several other research firms have also commented on PXD. Piper Jaffray Companies reaffirmed a buy rating and set a $207.00 price target on shares of Pioneer Natural Resources in a research report on Tuesday, January 9th. ValuEngine lowered shares of Pioneer Natural Resources from a hold rating to a sell rating in a research report on Sunday, December 31st. JPMorgan Chase & Co. set a $185.00 price target on shares of Pioneer Natural Resources and gave the company a buy rating in a research report on Wednesday, January 3rd. Royal Bank of Canada set a $201.00 price target on shares of Pioneer Natural Resources and gave the company a buy rating in a research report on Sunday, October 15th. Finally, SunTrust Banks reaffirmed a buy rating and set a $180.00 price target on shares of Pioneer Natural Resources in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $207.88.

Shares of Pioneer Natural Resources (PXD) opened at $171.03 on Monday. Pioneer Natural Resources has a 52-week low of $125.46 and a 52-week high of $199.83. The company has a market cap of $29,100.00, a PE ratio of 34.90, a PEG ratio of 2.84 and a beta of 0.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.41.

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 Thomson Reuters’ consensus estimate of $0.59 by $0.63. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 48.4% compared to the same quarter last year. sell-side analysts expect that Pioneer Natural Resources will post 5.39 earnings per share for the current fiscal year.

The company also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a $0.16 dividend. This represents a yield of 0.18%. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio is currently 1.63%.

Pioneer Natural Resources announced that its board has initiated a stock buyback program on Tuesday, February 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

In other Pioneer Natural Resources news, EVP Jerome D. Hall, Jr. sold 1,800 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $172.60, for a total transaction of $310,680.00. Following the completion of the sale, the executive vice president now directly owns 22,964 shares of the company’s stock, valued at approximately $3,963,586.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Stephen Berg sold 2,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $154.47, for a total transaction of $308,940.00. Following the sale, the executive vice president now directly owns 48,719 shares of the company’s stock, valued at $7,525,623.93. The disclosure for this sale can be found here. Insiders sold a total of 25,306 shares of company stock valued at $4,164,925 over the last three months. 0.89% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PXD. Shelton Capital Management purchased a new stake in Pioneer Natural Resources during the 2nd quarter valued at approximately $205,000. Westwood Holdings Group Inc. grew its holdings in Pioneer Natural Resources by 45.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,930 shares of the oil and gas development company’s stock valued at $468,000 after buying an additional 920 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Pioneer Natural Resources by 7.1% during the 2nd quarter. Sterling Capital Management LLC now owns 8,268 shares of the oil and gas development company’s stock valued at $1,319,000 after buying an additional 549 shares in the last quarter. National Asset Management Inc. purchased a new stake in Pioneer Natural Resources during the 2nd quarter valued at approximately $210,000. Finally, Cetera Investment Advisers purchased a new stake in Pioneer Natural Resources during the 2nd quarter valued at approximately $206,000. 90.58% of the stock is 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.

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

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