Raymond James Believes Pioneer Natural (PXD) Still Has Room to Grow


In a report released yesterday, John Freeman from Raymond James maintained a Buy rating on Pioneer Natural (PXD). The company’s shares closed last Tuesday at $158.45, close to its 52-week high of $169.49.

According to TipRanks.com, Freeman is a 3-star analyst with an average return of 4.1% and a 43.3% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Northern Oil And Gas.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pioneer Natural with a $187.65 average price target, which is a 18.5% upside from current levels. In a report issued on April 19, Truist Financial also maintained a Buy rating on the stock with a $190.00 price target.

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Based on Pioneer Natural’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.02 billion and GAAP net loss of $30 million. In comparison, last year the company earned revenue of $2.64 billion and had a net profit of $361 million.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PXD in relation to earlier this year. Most recently, in March 2021, Mark Stephen Berg, the EVP, Corporate Operations of PXD sold 6,863 shares for a total of $1,128,893.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Pioneer Natural Resources Co. Operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses in the operation of Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The firm also maintains an office in Midland, Texas and field offices in its area of operation. The company was founded in August 1997 and is headquartered in Irving, TX.

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