Pioneer Natural Resources (NYSE:PXD)‘s stock had its “hold” rating reiterated by equities researchers at Topeka Capital Markets in a research report issued on Friday, AmericanBankingNews.com reports. They currently have a $210.00 price target on the stock, down from their previous price target of $225.00. Topeka Capital Markets’ price target suggests a potential upside of 17.38% from the stock’s previous close.
The analysts wrote, “PXD announced that severe winter weather has significantly impacted production and drilling operations in the Spraberry/Wolfcamp, Eagle Ford Shale and Barnett Shale Combo plays. With these impacts, we could foresee production coming in below the low-end of its previously issued guidance (179 – 187 Mboe/d). In our view, these weather related impacts will obscure the Company’s production growth from its horizontal Wolfcamp/Spraberry activity in the Permian Basin.We reaffirm our Hold rating and are lowering our PT to $210 (from $225). While PXD is asset-rich (our RNAV is $250), we do not think shares can outperform until its horizontal activity in the Midland Basin can translate into consistent production growth, an event that we expect in mid-to-late 2014.”
Shares of Pioneer Natural Resources (NYSE:PXD) opened at 178.91 on Friday. Pioneer Natural Resources has a one year low of $101.09 and a one year high of $227.42. The stock’s 50-day moving average is $198.4 and its 200-day moving average is $172.0. The company has a market cap of $24.809 billion and a price-to-earnings ratio of 43.65.
Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Tuesday, November 5th. The company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by $0.09. The company had revenue of $826.80 million for the quarter, compared to the consensus estimate of $960.28 million. During the same quarter in the prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 34.4% on a year-over-year basis. On average, analysts predict that Pioneer Natural Resources will post $4.69 earnings per share for the current fiscal year.
A number of other firms have also recently commented on PXD. Analysts at Raymond James reiterated a “buy” rating on shares of Pioneer Natural Resources in a research note to investors on Saturday, November 23rd. They now have a $225.00 price target on the stock. Separately, analysts at Prime Executions initiated coverage on shares of Pioneer Natural Resources in a research note to investors on Monday. They set a “sell” rating and a $155.00 price target on the stock. Finally, analysts at Oppenheimer downgraded shares of Pioneer Natural Resources from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $191.20.
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.
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