Canaccord Genuity initiated coverage on shares of Pioneer Natural Resources (NYSE:PXD) in a research note released on Tuesday morning, TheFlyOnTheWall.com reports. The firm issued a buy rating and a $274.00 target price on the stock.
Canaccord Genuity has also taken action a number of other energy stocks recently. The firm raised its price target on shares of Abraxas Petroleum Corp. from $6.00 to $7.00. They have a buy rating on that stock. Also, Canaccord Genuity initiated coverage on shares of Diamondback Energy Inc. They issued a buy rating on that stock and set a $108.00 price target.
Shares of Pioneer Natural Resources (NYSE:PXD) traded down 1.10% during mid-day trading on Tuesday, hitting $226.23. 342,370 shares of the company’s stock traded hands. Pioneer Natural Resources has a 1-year low of $147.83 and a 1-year high of $234.20. The stock has a 50-day moving average of $216.7 and a 200-day moving average of $194.1. The company’s market cap is $32.361 billion.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.19. The company had revenue of $963.00 million for the quarter, compared to the consensus estimate of $867.70 million. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. Analysts expect that Pioneer Natural Resources will post $5.63 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at GMP Securities initiated coverage on shares of Pioneer Natural Resources in a research note on Tuesday, June 24th. They set a buy rating and a $286.00 price target on the stock. Separately, analysts at Global Hunter Securities downgraded shares of Pioneer Natural Resources from a buy rating to an accumulate rating in a research note on Tuesday, June 17th. They now have a $260.00 price target on the stock, up previously from $220.00. Finally, analysts at FBR Capital Markets raised their price target on shares of Pioneer Natural Resources from $250.00 to $275.00 in a research note on Thursday, May 29th. They now have an outperform rating on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. Pioneer Natural Resources currently has a consensus rating of Hold and a consensus price target of $216.27.
In other Pioneer Natural Resources news, COO Timothy L. Dove sold 7,000 shares of Pioneer Natural Resources stock on the open market in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $230.69, for a total value of $1,614,830.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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.
To view Canaccord Genuity’s full report, visit Canaccord Genuity’s official website.
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