Analysts at Topeka Capital Markets started coverage on shares of Pioneer Natural Resources (NYSE: PXD) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating and a $158.00 price target on the stock.
The analysts wrote, “We are initiating coverage of Pioneer Natural Resources (PXD) with a Buy rating and price target of $158.00 per share. We place PXD in our top pick bucket (both on the value and growth front), given its scale in two of the most coveted domestic resource plays – the Wolfcamp shale in the Midland Basin and Eagle Ford shale in Texas. With more than 40,000 locations and 8.0 billion boe of upside potential (vs. 2012 year-end proved reserves of 1.09 billion boe), largely from the Midland Basin, we view PXD as a powerhouse in Texas. PXD has been able to execute with improving well results out of emerging horizontal targets in the Midland Basin and improving capital efficiencies (complemented by the vertical integration model) – a trend we expect to continue.”
Several other analysts have also recently commented on the stock. Analysts at SunTrust initiated coverage on shares of Pioneer Natural Resources in a research note to investors on Tuesday. They set a “buy” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Pioneer Natural Resources in a research note to investors on Thursday, March 21st. Finally, analysts at Canaccord Genuity reiterated a “sell” rating on shares of Pioneer Natural Resources in a research note to investors on Thursday, March 21st. They now have a $112.00 price target on the stock.
Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. Pioneer Natural Resources presently has a consensus rating of “Buy” and a consensus target price of $131.17.
Pioneer Natural Resources (NYSE: PXD) traded down 1.64% on Wednesday, hitting $124.00. Pioneer Natural Resources has a 1-year low of $77.41 and a 1-year high of $133.68. The stock’s 50-day moving average is currently $126.0. The company has a market cap of $15.297 billion and a price-to-earnings ratio of 84.05.
Pioneer Natural Resources (NYSE: PXD) last issued its quarterly earnings data on Wednesday, February 13th. The company reported $0.83 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.88 by $0.05. The company had revenue of $818.70 million for the quarter, compared to the consensus estimate of $783.58 million. During the same quarter last year, the company posted $1.19 earnings per share. Pioneer Natural Resources’s revenue was up 18.8% compared to the same quarter last year. Analysts expect that Pioneer Natural Resources will post $4.72 EPS for the current fiscal year.
The company also recently declared a semiannual dividend, which is scheduled for Thursday, April 11th. Investors of record on Thursday, March 28th will be given a dividend of $0.04 per share. This represents a yield of 0.06%. The ex-dividend date of this dividend is Tuesday, March 26th.
Pioneer Natural Resources Company (NYSE: PXD) is an independent oil and gas exploration and production company with operations in the United States and South Africa.