Zacks Investment Research upgraded shares of Pioneer Natural Resources (NYSE:PXD) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $192.00 target price on the oil and gas development company’s stock.

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. It is to be noted that Pioneer expects fourth-quarter 2017 production to be in the range of 292 MBOE/D to 302 MBOE/D, significantly higher than 241.8 MBOE/D during the prior-year comparable quarter. The company’s low level of debt is also noteworthy. Since 2016, there has been a steady decline in the company’s long-term debt levels, reflecting strong balance sheet. Pioneer Natural Resources has an encouraging earnings surprise history despite persistent weak commodity prices. The oil & gas exploration and production firm was able to beat the Zacks Consensus Estimate in all the prior four quarters with an average positive earnings surprise of 67.6%.”

Several other analysts have also recently weighed in on the stock. Credit Suisse Group initiated coverage on shares of Pioneer Natural Resources in a research note on Monday, December 11th. They issued an outperform rating and a $192.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Pioneer Natural Resources from $202.00 to $197.00 and set an overweight rating on the stock in a research note on Wednesday, October 18th. KeyCorp set a $180.00 price objective on shares of Pioneer Natural Resources and gave the stock a buy rating in a research note on Saturday, November 25th. Mizuho set a $190.00 price objective on shares of Pioneer Natural Resources and gave the stock a buy rating in a research note on Saturday, November 25th. Finally, Jefferies Group set a $171.00 price objective on shares of Pioneer Natural Resources and gave the stock a buy rating in a research note on Tuesday, August 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the stock. Pioneer Natural Resources currently has a consensus rating of Buy and an average price target of $192.27.

Shares of Pioneer Natural Resources (PXD) opened at $173.99 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.58 and a current ratio of 1.69. Pioneer Natural Resources has a one year low of $125.46 and a one year high of $199.83. The firm has a market cap of $29,118.69, a price-to-earnings ratio of 241.65, a price-to-earnings-growth ratio of 10.51 and a beta of 0.97.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas development company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.18. Pioneer Natural Resources had a net margin of 2.17% and a return on equity of 2.34%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Pioneer Natural Resources’s revenue for the quarter was up 23.1% on a year-over-year basis. sell-side analysts expect that Pioneer Natural Resources will post 1.59 EPS for the current year.

In other news, EVP Chris J. Cheatwood sold 2,201 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $167.82, for a total transaction of $369,371.82. Following the transaction, the executive vice president now owns 42,909 shares in the company, valued at $7,200,988.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott D. Sheffield sold 5,000 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $172.38, for a total transaction of $861,900.00. Following the transaction, the director now owns 576,066 shares in the company, valued at approximately $99,302,257.08. The disclosure for this sale can be found here. Insiders have sold 41,116 shares of company stock worth $6,666,312 in the last ninety days. Insiders own 0.89% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Atlantic Trust Group LLC raised its holdings in shares of Pioneer Natural Resources by 1.9% during the third quarter. Atlantic Trust Group LLC now owns 506,493 shares of the oil and gas development company’s stock valued at $74,728,000 after purchasing an additional 9,671 shares during the period. Hellman Jordan Management Co. Inc. MA raised its holdings in shares of Pioneer Natural Resources by 43.0% during the third quarter. Hellman Jordan Management Co. Inc. MA now owns 5,275 shares of the oil and gas development company’s stock valued at $778,000 after purchasing an additional 1,587 shares during the period. AXA raised its holdings in shares of Pioneer Natural Resources by 17.7% during the third 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 acquired a new stake in shares of Pioneer Natural Resources in the 3rd quarter worth about $176,000. Finally, Atlantic Trust LLC raised its holdings in shares of Pioneer Natural Resources by 22.0% in the 3rd quarter. Atlantic Trust LLC now owns 2,575 shares of the oil and gas development company’s stock worth $380,000 after acquiring an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://theolympiareport.com/2017/12/27/pioneer-natural-resources-pxd-upgraded-by-zacks-investment-research-to-buy.html.

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.

Analyst Recommendations for Pioneer Natural Resources (NYSE:PXD)

Receive News & Ratings for Pioneer Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Natural Resources and related companies with Analyst Ratings Network's FREE daily email newsletter.