Pioneer Natural Resources (NYSE:PXD) Price Target Raised to $285.00 at Morgan Stanley

Pioneer Natural Resources (NYSE:PXDGet Rating) had its price target lifted by analysts at Morgan Stanley from $272.00 to $285.00 in a research note issued to investors on Monday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the oil and gas development company’s stock. Morgan Stanley’s target price points to a potential upside of 1.87% from the stock’s previous close.

A number of other brokerages have also weighed in on PXD. Susquehanna upped their price objective on Pioneer Natural Resources from $258.00 to $278.00 and gave the stock a “positive” rating in a report on Monday, April 25th. Susquehanna Bancshares increased their price target on shares of Pioneer Natural Resources from $258.00 to $278.00 and gave the company a “positive” rating in a report on Monday, April 25th. Mizuho lowered their target price on shares of Pioneer Natural Resources from $343.00 to $342.00 and set a “buy” rating on the stock in a research report on Tuesday, May 31st. Scotiabank downgraded shares of Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $260.00 to $270.00 in a research report on Monday, April 18th. Finally, Raymond James upped their price target on Pioneer Natural Resources from $285.00 to $400.00 and gave the stock a “strong-buy” rating in a report on Monday, April 25th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Pioneer Natural Resources presently has a consensus rating of “Buy” and a consensus price target of $278.68.

Pioneer Natural Resources stock traded up $0.31 during trading hours on Monday, reaching $279.78. 25,953 shares of the stock were exchanged, compared to its average volume of 2,521,764. Pioneer Natural Resources has a 52-week low of $133.73 and a 52-week high of $288.46. The stock has a market cap of $67.70 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.97 and a beta of 1.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.42 and a current ratio of 1.54. The firm’s 50 day moving average is $256.11 and its 200 day moving average is $226.05.

Pioneer Natural Resources (NYSE:PXDGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The oil and gas development company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $5.99 billion. During the same period in the prior year, the company posted $1.77 earnings per share. The firm’s revenue for the quarter was up 152.5% on a year-over-year basis. Equities research analysts expect that Pioneer Natural Resources will post 33.85 EPS for the current fiscal year.

In other news, SVP Tyson L. Taylor sold 1,978 shares of the firm’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $228.55, for a total transaction of $452,071.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Stephen Berg sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $274.41, for a total value of $686,025.00. Following the completion of the transaction, the executive vice president now owns 49,546 shares of the company’s stock, valued at $13,595,917.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,278 shares of company stock worth $10,535,493. 0.55% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Pioneer Natural Resources by 26.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,309 shares of the oil and gas development company’s stock worth $5,327,000 after acquiring an additional 4,469 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Pioneer Natural Resources by 10.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 1,247 shares of the oil and gas development company’s stock valued at $312,000 after purchasing an additional 116 shares in the last quarter. Gradient Investments LLC increased its holdings in Pioneer Natural Resources by 30.7% in the 1st quarter. Gradient Investments LLC now owns 1,664 shares of the oil and gas development company’s stock valued at $416,000 after purchasing an additional 391 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Pioneer Natural Resources by 321.3% in the first quarter. EverSource Wealth Advisors LLC now owns 337 shares of the oil and gas development company’s stock valued at $85,000 after purchasing an additional 257 shares during the period. Finally, First National Bank of Omaha lifted its stake in shares of Pioneer Natural Resources by 40.7% during the first quarter. First National Bank of Omaha now owns 6,147 shares of the oil and gas development company’s stock worth $1,537,000 after purchasing an additional 1,777 shares in the last quarter. 87.65% of the stock is owned by hedge funds and other 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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