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Has Pioneer Natural Resources Stock Started a New Uptrend?

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Part 5
Has Pioneer Natural Resources Stock Started a New Uptrend? PART 5 OF 5

Where Wall Street Thinks Pioneer Natural Resources Could Trade

Analyst recommendations for Pioneer Natural Resources

As of September 22, 2017, around 89.7% of analysts covering Pioneer Natural Resources (PXD) have “buy” or “strong buy” recommendations on the stock. As of September 22, 2017, Reuters reported that 39 analysts are covering PXD. Of these, 12 analysts have “strong buy,” and 23 analysts have “buy” recommendations, while only four analysts have “hold” recommendations on PXD. There aren’t any “sell” or “strong sell” recommendations on the stock.

Where Wall Street Thinks Pioneer Natural Resources Could Trade

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PXD’s median target price

The median target price on Pioneer Natural Resources stock is $183, which is ~27% higher than its September 22 closing price of $144.01.

Analyst recommendation changes on PXD

The most recent rating change on PXD stock was August 2, 2017. Wells Fargo downgraded PXD from “outperform” to “market perform.”

In the last three months, the number of analysts with a “strong buy” recommendation on Pioneer Natural Resources stock has fallen by one, or from 13 to 12. Even the number of “buy” recommendations has fallen by two or from 25 to 23. However, the “hold” recommendations on PXD have risen from three to four. The number of “strong sell” and “sell” ratings have remained unchanged.

In the last three months, Pioneer Natural Resources’ median target price has fallen from $226.00 to $183.00. The most recent target price change on PXD stock was on September 18, 2017. Simmons cut its target price on PXD to $185.00 from $229.00.

Other oil and gas producers

Based on the median price targets from Wall Street analysts, other oil and gas companies like Energen (EGN) and Range Resources (RRC) have potential upsides of ~16% and ~54%, respectively, from their September 22 closing prices. CONSOL Energy (CNX) has a potential upside of ~19%. CNX and RRC are primarily natural gas (UNG) producers and operate in the Appalachia region in the US.

To know more about what happened in the energy sector last week, refer to Market Realist’s series on Energy Sector Recap: What Happened in the Space Last Week.

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