Barclays Boosts Pioneer Natural Resources (NYSE:PXD) Price Target to $302.00

Pioneer Natural Resources (NYSE:PXDGet Rating) had its price objective boosted by equities research analysts at Barclays from $296.00 to $302.00 in a research report issued on Wednesday, The Fly reports. Barclays‘s price target points to a potential upside of 11.34% from the stock’s current price.

A number of other research analysts have also recently issued reports on PXD. Wells Fargo & Company raised their price target on shares of Pioneer Natural Resources from $244.00 to $276.00 and gave the stock an “overweight” rating in a report on Monday, March 14th. TD Securities raised their price target on shares of Pioneer Natural Resources from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, May 5th. MKM Partners dropped their price target on shares of Pioneer Natural Resources from $242.00 to $234.00 and set a “buy” rating on the stock in a research report on Friday, February 18th. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “strong-buy” rating and set a $256.00 price target on the stock in a research report on Friday, February 4th. Finally, Credit Suisse Group raised their price target on shares of Pioneer Natural Resources from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, February 17th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Pioneer Natural Resources currently has an average rating of “Buy” and an average price target of $276.89.

Shares of PXD opened at $271.25 on Wednesday. The company has a 50 day moving average price of $251.27 and a 200-day moving average price of $220.41. Pioneer Natural Resources has a fifty-two week low of $133.73 and a fifty-two week high of $279.98. The stock has a market capitalization of $65.63 billion, a PE ratio of 16.51, a PEG ratio of 0.96 and a beta of 1.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.42 and a current ratio of 1.54.

Pioneer Natural Resources (NYSE:PXDGet Rating) last posted its earnings results on Wednesday, May 4th. The oil and gas development company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.32 by $0.42. Pioneer Natural Resources had a net margin of 22.85% and a return on equity of 21.01%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $5.99 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. Pioneer Natural Resources’s revenue for the quarter was up 152.5% compared to the same quarter last year. Equities research analysts forecast that Pioneer Natural Resources will post 32.49 EPS for the current year.

In other Pioneer Natural Resources news, Director Frank A. Risch sold 1,000 shares of the business’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $254.81, for a total value of $254,810.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry R. Grillot sold 500 shares of the business’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $234.37, for a total transaction of $117,185.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,502 shares of company stock valued at $24,950,261 in the last 90 days. Insiders own 0.55% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PXD. Capital World Investors increased its stake in Pioneer Natural Resources by 18.4% in the 3rd quarter. Capital World Investors now owns 12,922,031 shares of the oil and gas development company’s stock valued at $2,151,697,000 after buying an additional 2,011,643 shares during the period. Capital International Investors grew its stake in Pioneer Natural Resources by 45.1% in the 4th quarter. Capital International Investors now owns 6,105,125 shares of the oil and gas development company’s stock valued at $1,110,392,000 after acquiring an additional 1,898,932 shares during the last quarter. First Trust Advisors LP grew its stake in Pioneer Natural Resources by 236.0% in the 1st quarter. First Trust Advisors LP now owns 1,632,267 shares of the oil and gas development company’s stock valued at $408,116,000 after acquiring an additional 1,146,401 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Pioneer Natural Resources by 20.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,290,431 shares of the oil and gas development company’s stock valued at $1,322,766,000 after purchasing an additional 903,653 shares in the last quarter. Finally, Abrams Bison Investments LLC purchased a new position in Pioneer Natural Resources in the 4th quarter valued at about $108,764,000. 87.65% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Company Profile (Get 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 oil, natural gas liquids (NGLs), and gas. It has operations 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 owned interests in 11 gas processing plants.

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