KeyCorp equity researchers initiated a hedge on the shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) in a research note published on Monday, reports The Fly. The brokerage gave shares of the oil and gas development company an “overweight” rating.
A number of other stock analysts have also recently released reports on PXD. Credit Suisse Group cut its price target on Pioneer Natural Resources from $290.00 to $280.00 and set an “outperform” rating on the stock in a Wednesday, August 3 report. Truist Financial cut its price target on Pioneer Natural Resources from $247.00 to $240.00 and set a “hold” rating on the stock in a Thursday, August 18 report. Barclays cut its price target on Pioneer Natural Resources from $324.00 to $309.00 and set an “overweight” rating on the stock in a Wednesday, August 31 report. MKM Partners reiterated a “buy” rating and issued a target price of $264.00 on shares of Pioneer Natural Resources in a Wednesday, July 20 report. Finally, Tudor Pickering upgraded Pioneer Natural Resources from a “buy” rating to a “hold” rating in a Friday, August 19 report. One stock research analyst gave the stock a sell rating, seven gave the company a hold rating, eleven gave the company a buy rating and one gave the company a high buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $285.59.
Pioneer Natural Resources trades down 1.9%
Shares of Pioneer Natural Resources traded at $4.65 on Monday, hitting $234.85. 2,079,007 shares of the company were traded, against an average volume of 2,594,877. The company has a market cap of $56.82 billion, a P/E ratio of 9.71, a price/growth ratio of earnings of 0.85 and a beta of 1.46. Pioneer Natural Resources has a 52-week low of $146.40 and a 52-week high of $288.46. The company’s 50-day moving average is $231.75 and its two-hundred-day moving average is $242.84. The company has a debt ratio of 0.19, a quick ratio of 1.20 and a current ratio of 1.33.
Pioneer Natural Resources (NYSE:PXD – Get Rating) last released its quarterly results on Tuesday, August 2. The oil and gas development company reported earnings per share (EPS) of $9.36 for the quarter, beating analysts’ consensus estimate of $8.63 by $0.73. Pioneer Natural Resources had a return on equity of 28.26% and a net margin of 28.29%. In the same quarter a year earlier, the company posted EPS of $2.55. Sell-side analysts expect Pioneer Natural Resources to post 32.9 EPS for the current fiscal year.
Hedge funds weigh on Pioneer Natural Resources
Major investors have recently been buying and selling stocks. Covestor Ltd bought a new position in Pioneer Natural Resources in Q4 for a value of around $27,000. Selective Wealth Management Inc. bought a new position in Pioneer Natural Resources in Q2 worth approximately $28,000. Riverview Trust Co bought a new position in Pioneer Natural Resources in Q1 worth around $29,000. Atwood & Palmer Inc. bought a new position in Pioneer Natural Resources in Q2 for about $30,000. Finally, JFS Wealth Advisors LLC increased its stake in Pioneer Natural Resources by 79.2% in the 2nd quarter. JFS Wealth Advisors LLC now owns 138 shares of the oil and gas development company worth $31,000 after buying 61 additional shares during the period. 89.97% of the shares are held by hedge funds and other institutional investors.
Pioneer Natural Resources Company Profile
(Get a rating)
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 petroleum, natural gas liquids (NGLs) and gas. It operates in the Midland Basin in West Texas. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs and 462 billion cubic feet of gas; and held stakes in 11 gas processing plants.
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