Pioneer Natural Resources Company (PXD) Rating Increased to Overweight at Mitsubishi UFJ Financial Group

Pioneer Natural Resources Company (NYSE:PXD) was upgraded by equities researchers at Mitsubishi UFJ Financial Group from a “neutral” rating to an “overweight” rating in a report issued on Tuesday.

A number of other analysts also recently commented on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $206.00 price objective on shares of Pioneer Natural Resources Company in a report on Wednesday, October 19th. Barclays PLC reiterated a “buy” rating and issued a $190.00 price objective on shares of Pioneer Natural Resources Company in a report on Wednesday, February 1st. Canaccord Genuity reiterated a “buy” rating and issued a $215.00 price objective on shares of Pioneer Natural Resources Company in a report on Thursday, February 2nd. RBC Capital Markets reiterated a “buy” rating and issued a $225.00 price objective (up previously from $217.00) on shares of Pioneer Natural Resources Company in a report on Friday, January 27th. Finally, Royal Bank Of Canada increased their price objective on shares of Pioneer Natural Resources Company from $217.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, January 27th. Four research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $197.34.

Analyst Recommendations for Pioneer Natural Resources Company (NYSE:PXD)

Pioneer Natural Resources Company (NYSE:PXD) traded down 1.19% during trading on Tuesday, hitting $194.70. The stock had a trading volume of 554,990 shares. Pioneer Natural Resources Company has a 12 month low of $111.86 and a 12 month high of $199.83. The firm has a 50 day moving average of $183.32 and a 200-day moving average of $181.35. The stock’s market cap is $33.10 billion.

Pioneer Natural Resources Company (NYSE:PXD) last released its quarterly earnings results on Tuesday, February 7th. The oil and gas development company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.16. Pioneer Natural Resources Company had a negative net margin of 14.56% and a negative return on equity of 0.33%. The firm earned $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned ($0.18) EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts predict that Pioneer Natural Resources Company will post $1.59 earnings per share for the current year.

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In related news, CEO Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $185.14, for a total transaction of $1,851,400.00. Following the sale, the chief executive officer now owns 585,868 shares of the company’s stock, valued at $108,467,601.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Timothy L. Dove sold 3,000 shares of the business’s stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $185.08, for a total transaction of $555,240.00. Following the sale, the chief operating officer now directly owns 249,010 shares in the company, valued at approximately $46,086,770.80. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Henderson Group PLC boosted its position in shares of Pioneer Natural Resources Company by 88.6% in the second quarter. Henderson Group PLC now owns 42,187 shares of the oil and gas development company’s stock worth $6,380,000 after buying an additional 19,815 shares during the last quarter. BP PLC boosted its position in shares of Pioneer Natural Resources Company by 16.7% in the second quarter. BP PLC now owns 21,000 shares of the oil and gas development company’s stock worth $3,176,000 after buying an additional 3,000 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of Pioneer Natural Resources Company during the second quarter worth about $507,000. Ashburton Jersey Ltd boosted its position in shares of Pioneer Natural Resources Company by 13.9% in the second quarter. Ashburton Jersey Ltd now owns 11,368 shares of the oil and gas development company’s stock worth $1,719,000 after buying an additional 1,385 shares during the last quarter. Finally, Bank of Hawaii acquired a new position in shares of Pioneer Natural Resources Company during the second quarter worth about $265,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

About Pioneer Natural Resources Company

Pioneer Natural Resources Company is an independent oil and gas exploration and production company with operations in the United States. The Company operates through the oil and gas development, exploration and production segment. The Company focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties.

5 Day Chart for NYSE:PXD

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