Williams Capital analyst Gabriele Sorbara upgraded Pioneer Natural (PXD) to Buy today and set a price target of $209. The company’s shares closed yesterday at $138.67, close to its 52-week low of $135.24.
According to TipRanks.com, Sorbara is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.0% and a 35.4% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.
Currently, the analyst consensus on Pioneer Natural is a Strong Buy with an average price target of $232.94, which is a 68.0% upside from current levels. In a report issued on November 30, Cowen & Co. also initiated coverage with a Buy rating on the stock with a $230 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.
