The stock of Pioneer Natural Resources (NYSE:PXD) gapped up by $7.65 today and has $202.50 target or 6.00% above today’s $191.04 share price. The 8 months technical chart setup indicates low risk for the $32.54B company. The gap was reported on Nov, 30 by Barchart.com. If the $202.50 price target is reached, the company will be worth $1.95 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 10.00% or $17.37 during the last trading session, hitting $191.04. About 6.48 million shares traded hands or 302.48% up from the average. Pioneer Natural Resources (NYSE:PXD) has risen 2.93% since April 27, 2016 and is uptrending. It has underperformed by 2.29% the S&P500.
Analysts await Pioneer Natural Resources (NYSE:PXD) to report earnings on February, 8. They expect $0.39 EPS, up 316.67% or $0.57 from last year’s $-0.18 per share. PXD’s profit will be $66.43 million for 122.46 P/E if the $0.39 EPS becomes a reality. After $0.13 actual EPS reported by Pioneer Natural Resources for the previous quarter, Wall Street now forecasts 200.00% EPS growth.
Pioneer Natural Resources (NYSE:PXD) Ratings Coverage
Out of 25 analysts covering Pioneer Natural Resources (NYSE:PXD), 22 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 88% are positive. Pioneer Natural Resources has been the topic of 73 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Pioneer Natural Resources (NYSE:PXD) earned “Outperform” rating by Credit Suisse on Friday, August 7. Barclays Capital maintained the stock with “Equal-Weight” rating in Tuesday, March 15 report. KLR Group downgraded the stock to “Accumulate” rating in Monday, March 21 report. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, January 6. The stock has “Buy” rating given by Topeka Capital Markets on Thursday, February 11. As per Thursday, October 6, the company rating was initiated by Mizuho. The stock of Pioneer Natural Resources (NYSE:PXD) earned “Equalweight” rating by Barclays Capital on Thursday, July 14. The rating was upgraded by Deutsche Bank on Thursday, January 7 to “Buy”. The firm has “Outperform” rating by Credit Suisse given on Wednesday, August 24. The rating was initiated by Canaccord Genuity with “Neutral” on Tuesday, October 20.
According to Zacks Investment Research, “Pioneer Natural Resources is an oil and gas exploration and production company with ownership interests in oil and gas properties located in the United States, Argentina, Canada, South Africa and Gabon. The company provides administrative, financial and management support to United States and foreign subsidiaries that explore for, develop and produce oil, natural gas liquid and natural gas reserves.”
Insitutional Activity: The institutional sentiment decreased to 1.13 in Q2 2016. Its down 0.50, from 1.63 in 2016Q1. The ratio worsened, as 45 funds sold all Pioneer Natural Resources shares owned while 167 reduced positions. 113 funds bought stakes while 232 increased positions. They now own 156.03 million shares or 0.47% less from 156.77 million shares in 2016Q1.
The California-based Whittier Tru has invested 0% in Pioneer Natural Resources (NYSE:PXD). Tcw Grp Inc Inc holds 0.02% or 13,150 shares in its portfolio. Quantitative Investment Mgmt Ltd Co, a Virginia-based fund reported 45,500 shares. Teacher Retirement Sys Of Texas last reported 236,086 shares in the company. Ardsley Advisory Partners last reported 60,000 shares in the company. Serv Automobile Association last reported 0.05% of its portfolio in the stock. Us National Bank De holds 0.09% of its portfolio in Pioneer Natural Resources (NYSE:PXD) for 155,635 shares. Great West Life Assurance Com Can owns 87,646 shares or 0.04% of their US portfolio. Tarbox has 0.01% invested in the company for 86 shares. Telemark Asset Mngmt Ltd Liability accumulated 5.22% or 150,000 shares. The Michigan-based Ls Invest Advisors Ltd has invested 0.04% in Pioneer Natural Resources (NYSE:PXD). Moreover, Aperio Grp Incorporated Limited Liability has 0.06% invested in Pioneer Natural Resources (NYSE:PXD) for 53,126 shares. Moreover, Columbia Prtn L L C Mngmt has 0.3% invested in Pioneer Natural Resources (NYSE:PXD) for 26,310 shares. Rothschild Cap Prns Limited Liability Corporation, a Maryland-based fund reported 17,085 shares. Washington Tru Bancorp reported 10,844 shares or 0.42% of all its holdings.
Insider Transactions: Since June 28, 2016, the stock had 0 insider purchases, and 14 sales for $21.78 million net activity. $10.11M worth of Pioneer Natural Resources (NYSE:PXD) shares were sold by DOVE TIMOTHY L. On Wednesday, November 23 SHEFFIELD SCOTT D sold $1.85M worth of the stock or 10,000 shares. $239,840 worth of Pioneer Natural Resources (NYSE:PXD) was sold by Hall Jerome D JR on Tuesday, June 28. Another trade for 2,000 shares valued at $348,640 was made by BERG MARK STEPHEN on Friday, August 12. On Friday, August 12 BUCHANAN EDISON C sold $525,000 worth of the stock or 3,000 shares. The insider KLEINMAN MARK H sold $262,731. THOMPSON J KENNETH sold 750 shares worth $128,633.
More recent Pioneer Natural Resources (NYSE:PXD) news were published by: Businesswire.com which released: “Pioneer Natural Resources to Present at Jefferies 2016 Energy Conference” on November 17, 2016. Also Realmoney.Thestreet.com published the news titled: “Pioneer Natural Resources Enjoys Positive Charts” on November 08, 2016. Seekingalpha.com‘s news article titled: “Pioneer Natural Resources: Can You Compound Growth?” with publication date: November 04, 2016 was also an interesting one.
PXD Company Profile
Pioneer Natural Resources Company, incorporated on April 2, 1997, is an independent gas and oil exploration and production firm with activities in the United States. The Firm operates through the gas and oil development, exploration and production segment. The Firm focuses on production of oil, natural gas liquid (NGLs) and gas through development drilling, production enhancement activities and acquisitions of producing properties. The Company’s properties include Spraberry/Wolfcamp oil field located in West Texas; the Eagle Ford Shale field located in South Texas; Raton gas field located in southern Colorado; the West Panhandle gas and liquids field located in the Texas Panhandle, and the Edwards gas field located in South Texas. The Company’s activities include well stimulation and completion activities, such as hydraulic fracturing, and water distribution and disposal activities. The Firm owns interests in over seven gas processing plants and approximately eight treating facilities.
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