Stock Analysis:Pioneer Natural Resources (NYSE:PXD) Stock Target Has Just Been Increased
In a comprehensive report issued to clients by Barclays Capital on Tuesday morning, Pioneer Natural Resources (NYSE:PXD) had its target PPS increased to $120.00. The firm right now has a solid “Underweight” rating on shares.
From a total of 39 analysts covering Pioneer Natural Resources (NYSE:PXD) stock, 32 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 78% of the ratings are positive. The highest target price is $224 while the lowest target price is $100. The mean of all analyst targets is $167.74 with a 17.65% above today’s ($140.56) stock price. Pioneer Natural Resources was the topic of 36 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Raymond James upgraded shares on December 1 to “Strong Buy” rating. Citigroup maintained shares with “Neutral” rating and $138 target share price in a report from a September 14. Societe Generale upgraded PXD stock in a recent report from November 4 to “Hold” rating. Global Hunter Securities upgraded the rating on August 14. Global Hunter Securities has a “Accumulate” rating and a $150 price target on shares. Finally, Topeka Capital Markets maintained the stock with “Buy” rating in a report issued on a November 3.
The stock increased 2.22% or $3.05 on December 8, striking $140.56. Approximately shares of stock traded hands. Pioneer Natural Resources (NYSE:PXD) has declined 12.23% since May 6, 2015 and is downtrending. It has underperformed by 11.43% the S&P500.
The overall sentiment of institutions has increased to 1.02 in Q2 2015. Its up 0.04, from 0.98 in 2015Q2. The ratio is positive, as 88 institutions have sold all the shares of Pioneer Natural Resources that they owned while 154 funds have taken shares off the table. 52 funds have purchased shares for the first time while 195 added to their positions. These institutions now hold 126.57 million shares or 9.08% less than the 139.21 million shares they owned in 2015Q2.
The Fund Salzman & Co. Inc. currently is holding shares equating to 33.58% of its total portfolio in Pioneer Natural Resources representing a total of 534,210 shares. Another fund,Astenbeck Capital Management Llc, is holding a total of 250,118 shares equating to 26.29% of their holdings. Additionally, Oberndorf William E has a 58,400 share stake in Pioneer Natural Resources which represents 22.69% of their total portfolio. The Fund, Oslo Asset Management Asa, based out of Norway, has also built up a stake in the stock, which represents a total of 17.93% of their total portfolio. Finally Spo Advisory Corp, a fund which is based in the state of California reported a total holdings of 7.30 million shares.
Insider activity is a very important aspect to track on any stock. Going back to June 4, 2015, shareholders of Pioneer Natural Resources have witnessed 0 insider purchases, and a total of 6 sales equating to a net activity of approximately $4.78 million . Berg Mark Stephen sold 2,500 shares worth approximately $314,892. Cheatwood Chris J sold 16,245 shares worth approximately $2.01 million. Sheffield Scott D sold 15,000 shares worth approximately $1.75M. Hall Jerome D Jr sold 2,181 shares worth approximately $254,621. The company insider Risch Frank A sold 1,000 shares worth $127,481.
Pioneer Natural Resources Company is an independent gas and oil exploration and production firm with activities in the United States. The company has a market cap of $20.54 billion. The Firm focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties. It has 26.9 P/E ratio. The Company’s properties include Spraberry/Wolfcamp oil field located in West Texas; the liquid-rich Eagle Ford Shale field located in South Texas; Raton gas field located in southern Colorado; the West Panhandle gas and liquids field located in the Texas Panhandle, and the Edwards gas field located in South Texas.
According to Zacks Investment Research, “Pioneer Natural Resources is an oil and gas exploration and production company with ownership interests in oil and gas properties located in the United States, Argentina, Canada, South Africa and Gabon. The company provides administrative, financial and management support to United States and foreign subsidiaries that explore for, develop and produce oil, natural gas liquid and natural gas reserves.” Get a free copy of the Zacks research report on Pioneer Natural Resources (PXD).