Pioneer Natural Resources (NYSE:PXD) Share Price May Be About to Change Direction; Raymond James Upgrades The Company.


Pioneer Natural Resources (NYSE:PXD) Stock Upgrade

The rating for shares of Pioneer Natural Resources (NYSE:PXD) were increased by stock analysts at Raymond James from a Outperform rating to a Strong Buy rating in recent note issued to clients and investors on Tuesday, 1 December.

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 $166.49 with a 9.62% above today’s ($148.55) stock price. Pioneer Natural Resources was the topic of 33 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 4 with “Outperform” rating. Citigroup maintained shares with “Neutral” rating and $138 target share price in a report from a September 14. Wunderlich maintained PXD stock in a recent report from November 4 with “Buy” 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, Susquehanna initiated the stock with “Positive” rating in a report issued on an October 30.

Approximately 915,172 shares of stock traded hands. Pioneer Natural Resources (NYSE:PXD) has declined 15.93% since April 28, 2015 and is downtrending. It has underperformed by 14.31% the S&P500.

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 $22.17 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 28.43 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)