Pioneer Natural Resources (NYSE:PXD) Sets New 52-Week Low at $118.64

Pioneer Natural Resources (NYSE:PXD) reached a new 52-week low on Tuesday . The stock traded as low as $118.64 and last traded at $120.74, with a volume of 394935 shares trading hands. The stock had previously closed at $121.84.

Several research firms recently weighed in on PXD. Goldman Sachs Group downgraded Pioneer Natural Resources to a “buy” rating in a research note on Friday, April 12th. KeyCorp raised their price objective on Pioneer Natural Resources from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. SunTrust Banks downgraded Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Monday, July 8th. Seaport Global Securities reaffirmed a “buy” rating on shares of Pioneer Natural Resources in a research note on Friday, June 21st. Finally, Barclays reaffirmed a “buy” rating and issued a $217.00 price objective on shares of Pioneer Natural Resources in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Pioneer Natural Resources has a consensus rating of “Buy” and a consensus target price of $199.06.

The stock’s fifty day simple moving average is $142.86. The company has a market cap of $20.52 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 0.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.99.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Monday, May 6th. The oil and gas development company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Pioneer Natural Resources had a return on equity of 9.31% and a net margin of 11.89%. Pioneer Natural Resources’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. Sell-side analysts forecast that Pioneer Natural Resources will post 8.28 EPS for the current fiscal year.

In other Pioneer Natural Resources news, CAO Margaret Montemayor sold 888 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.38, for a total transaction of $136,201.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of PXD. Boston Partners boosted its holdings in shares of Pioneer Natural Resources by 28.8% during the first quarter. Boston Partners now owns 3,596,532 shares of the oil and gas development company’s stock worth $547,679,000 after purchasing an additional 804,760 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Pioneer Natural Resources by 90.6% during the first quarter. Primecap Management Co. CA now owns 1,367,296 shares of the oil and gas development company’s stock worth $208,212,000 after purchasing an additional 649,746 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Pioneer Natural Resources by 95.4% during the first quarter. CIBC Private Wealth Group LLC now owns 802,525 shares of the oil and gas development company’s stock worth $122,208,000 after purchasing an additional 391,775 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Pioneer Natural Resources by 11.7% during the first quarter. Clearbridge Investments LLC now owns 3,177,174 shares of the oil and gas development company’s stock worth $483,820,000 after purchasing an additional 334,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Pioneer Natural Resources by 24.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,119,088 shares of the oil and gas development company’s stock worth $147,184,000 after purchasing an additional 217,216 shares during the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.

About Pioneer Natural Resources (NYSE:PXD)

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 primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado, and the West Panhandle field in the Texas Panhandle.

Further Reading: Certificate of Deposit (CD)

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