KeyBanc maintained its Pioneer Natural Resources [PXD] rating to the equivalent of Overweight but changed the price target to $132 from $123, in a research note dated 2021-01-07. That figure represents around a 4.48% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Piper Sandler’s analysts upgrading the shares from “a Neutral” rating to “an Overweight” rating in a research note to investors issued in late October. Meanwhile, TD Securities had raised its rating on PXD to “Buy” from the earlier “Hold”, in a research note produced for clients October 21, 2020. In addition, there was a downgrade from Evercore ISI on October 21, 2020. The rater changed PXD from “an Outperform” to “an In-line”.
Is Pioneer Natural Resources Company [NYSE:PXD] a Good Buy Right Now?
It should be noted that PXD technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 56% Buy in the past month. Data from Pioneer Natural Resources Company’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.87 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 2.11 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.86 million shares.
PXD Price Performance
On Wall Street, Pioneer Natural Resources Company [NYSE:PXD] finished Wednesday’s session up 4.13% at $126.36. The stock went up to $128.46 at the same session while its lowest single day price was $121.30. In the last five days, it saw a rise of about 14.21%, Pioneer Natural Resources Company shares gained by almost 10.95% since the beginning of the year. However, the share price has dropped to as low as -20.53% below its one year high. On 01/06/21, the company shares recorded $128.46, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $111.82. The company’s shares have declined by -19.49% in the past year. The 50-day SMA achieved is $102.03 while the 200-day SMA is $94.31. Volume gained to 3.45 million from 3.05 million in the previous session.
Pioneer Natural Resources Company [PXD] Valuation Measures
Notably, Pioneer Natural Resources Company [PXD] stock cannot be classified as a good candidate in the listing of underestimated low-priced Oil & Gas E&P companies to purchase soonest possible with the prevailing 12-month PE ratio of 120.92. The measure means the stock is exchanging at a premium as compared to the 13.54x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 2.73 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 0.93 which means PXD serve an unattractive investment opportunity compared to its competitors.
PXD Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 122.29 level, and in case of violation of this particular level, it will cause more drop to 118.21 level. On the upper level, 132.53 is still the key resistance. The stock may increase to the subsequent resistance at 129.45. The Relative Strength Index (RSI) pinned on the 14-day chart is 69.42, implying a neutral technical stance while the MACD stands at 6.00, meaning price will increase in the next trading period. Percent R indicator moved to 10.24%, implying bullish price movement. Stochastic %K at 72.96% suggest selling the stock.
What is the short interest in Pioneer Natural Resources Company?
Short interest in the Pioneer Natural Resources Company stock has plunged, decreasing by 90000.0 shares to total 5.85 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 5.76 million, data from Yahoo Finance shows. The increase of 1.54% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 3.58% of the overall float for the stock.
Pioneer Natural Resources Company’s Biggest Shareholders: Who Owns Pioneer Natural Resources Company [PXD]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 17,237,211 shares or roughly 10.48% of the outstanding PXD shares. This means their shares have increased by 2,137,800 from the 17,237,211 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, SSgA Funds Management, Inc. updated stake is worth $987,222,874. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -2.18% stake valued at $800,616,599 while Capital Research & Management Co cut theirs at $634,765,308. During the last quarter, BlackRock Fund Advisors liquidated -177,230 of its shares in Pioneer Natural Resources Company while Capital Research & Management Co sold -839,682 shares. The T. Rowe Price Associates, Inc.’s holdings currently number 6,057,263 shares at $765395752.68. According to the firm’s last 13F report, PRIMECAP Management Co. shares in the company at filing stood at 5,251,296 shares, roughly $528,175,352.
PXD Earnings Forecast For The Current Quarter
Pioneer Natural Resources Company [PXD] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $926.01M and an earnings per share of $0.63 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.32B at an EPS of $1.2 for Mar 2021. The estimates represent a downside of 62.80% and 227.20% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PXD Earnings Estimates For The Current Year
For the financial year, Pioneer Natural Resources Company [NYSE:PXD] is expected to bring in revenue of $3.6B. The returns are nearly $-1.32 billion lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.67, lower than that of FY19 by -$6.51. Estimates put this year’s earnings growth at -79.60%, 234.70% for the next, and at an annual 13.92% over the next 5-year period. As for sales, forecasts are for a decrease of -26.80% in the current fiscal year and a further 62.80% over the following year.