Zacks reiterated their neutral rating on shares of Pioneer Natural Resources (NYSE: PXD) in a research report sent to investors on Monday morning, StockRatingsNetwork.com reports. The firm currently has a $146.00 price target on the stock.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Pioneer Natural Resources following its first quarter 2013 results. Revenue beat the Zacks Consensus Estimate on the back of higher production. Its drilling venture helped Pioneer to deliver production beyond its expectation. Continuous success from the Wolfcamp operations could act as potential catalysts for growth. Moreover, its new joint venture in the southern Wolfcamp acreage is helping to accelerate activities in the area. However, we remain on the sidelines considering Pioneer’s sensitivity to gas/oil price volatility, as well as drilling results, costs, geo-political risks and project timing delays. Increasing cost pressure in the highly competitive shale plays is also a cause of concern. Additionally, the Permian operations carry high execution risk owing to the transition from the Spraberry vertical development program to the horizontal appraisal of the Wolfcamp.”
Pioneer Natural Resources (NYSE: PXD) opened at 140.00 on Monday. Pioneer Natural Resources has a 1-year low of $77.41 and a 1-year high of $146.68. The stock’s 50-day moving average is currently $130.4. The company has a market cap of $19.121 billion and a price-to-earnings ratio of 233.72.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a buy rating on shares of Pioneer Natural Resources in a research note to investors on Tuesday, May 28th. Separately, analysts at SunTrust raised their price target on shares of Pioneer Natural Resources from $152.00 to $170.00 in a research note to investors on Friday, May 24th. They now have a buy rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Pioneer Natural Resources from $122.00 to $140.00 in a research note to investors on Wednesday, May 22nd.
One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Pioneer Natural Resources currently has a consensus rating of Buy and a consensus target price of $143.96.
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 Zacks’ full report, visit www.zacks.com