What is Wall Street saying?
Pioneer Natural Resources’ (PXD) stock declined 2.5% following its latest quarter earnings release on May 5. Now let’s look at the Wall Street targets for Pioneer Natural Resources.
Most rate Pioneer Natural Resources a “buy”
Approximately 61% of analysts, surveyed by Bloomberg, who are tracking Pioneer Natural Resources (PXD) rate it a “buy” or some equivalent. Approximately 30% rate the company a “hold” or an equivalent, while 9% of the analysts recommend a “sell.” Pioneer Natural Resources comprises 0.13% of the SPDR S&P 500 ETF (SPY).
In comparison, approximately 65% of analysts tracking Whiting Petroleum (WLL) rate it a “buy” or some equivalent, while 42% of the analysts rated Continental Resources (CLR) as a “buy.” Approximately 69% of the analysts tracking EOG Resources (EOG) have rated it as a “buy.”
Following Pioneer Natural Resources’ financial results on May 5, RBC Capital Markets, a Canadian investment bank and part of the Royal Bank of Canada, gave Pioneer Natural Resources (PXD) a target price of $177. Pioneer Natural Resources (PXD) currently trades near $160, implying an 11% return for the next 12 months.
French investment bank Société Générale has a $160 target price for Pioneer Natural Resources (PXD) with a “sell” recommendation, implying a nearly zero return over the next 12 months.
Investment bank J.P. Morgan (JPM) has the target price of $186, implying a ~16% return from Pioneer Natural Resources over the next 12 months.
Investment bank Goldman Sachs (GS) gave Pioneer Natural Resources one-year target price of $184, which implies a ~15% return.
Scotia Howard Weil, a part of Scotia Capital, gave Pioneer Natural Resources a “sector outperform” recommendation. Its target price of $216 implies a healthy 35% return over the next 12 months.
You can learn more about the oil and gas industry on Market Realist’s Energy and Power page.