Raymond James Keeps Their Buy Rating on Pioneer Natural (PXD)


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 $83.53.

According to TipRanks.com, Freeman ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -22.5% and a 20.3% success rate. Freeman covers the Utilities sector, focusing on stocks such as Black Stone Minerals, Southwestern Energy, and Concho Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pioneer Natural with a $119.00 average price target, representing a 43.8% upside. In a report issued on October 12, RBC Capital also maintained a Buy rating on the stock with a $115.00 price target.

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Based on Pioneer Natural’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.14 billion and GAAP net loss of $439 million. In comparison, last year the company earned revenue of $2.38 billion and had a GAAP net loss of $169 million.

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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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