Stifel Nicolaus Thinks Pioneer Natural’s Stock is Going to Recover


In a report issued on November 25, Derrick Whitfield from Stifel Nicolaus reiterated a Buy rating on Pioneer Natural (PXD), with a price target of $302. The company’s shares closed yesterday at $147.12, close to its 52-week low of $140.54.

According to TipRanks.com, Whitfield is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.6% and a 30.1% success rate. Whitfield covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sundance Energy Australia, and Continental Resources.

Currently, the analyst consensus on Pioneer Natural is a Strong Buy with an average price target of $237.77, implying a 61.6% upside from current levels. In a report issued on November 13, Scotiabank also reiterated a Buy rating on the stock with a $263 price target.

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Based on Pioneer Natural’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.46 billion and net profit of $409 million. In comparison, last year the company earned revenue of $1.58 billion and had a GAAP net loss of $23 million.

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Pioneer Natural Resources Co. engages in the provision of oil and gas exploration. It focuses in the operation of Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded in August 1997 and is headquartered in Irving, TX.

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