Pioneer Natural Resources (PXD) Upgraded to Buy at Stifel Nicolaus

Pioneer Natural Resources (PXD) has been upgraded today by the securities research analysts at investment firm Stifel Nicolaus which raised Pioneer Natural Resources from a “hold” rating to “buy.”  Stifel has a performance outlook price target of $110 dollars fixed on shares of PXD.  Stifel noted that their $110 price target is based on oil having “turned the corner” and that 2012 crude has a positive outlook.

PXD is down during intraday trading for the first time in nine days of trading where shares of the company made positive headway eight of the last consecutive trading days.  PXD has found support of the 50-day simple moving average which was touched at 11:04 A.M., Eastern.

Pioneer Natural Resources is slated to release their next earnings report on August 3rd, 2011, and the current consensus EPS estimate is expected to be 83 cents.  Their last earnings report was released on May 3rd, 2011, and announced EPS of 68 cents with revenue totaling $527.6 million which was up 4.1% year to year.  PXD is currently trading above its 50 & 200-day moving averages and 2011 is an up year for the company.

Pioneer Natural Resources is a large independent oil and gas exploration and production company with current operations in the United States and South Africa.  The company has market capitalization of $10,641,141,840 and 116,756,000 shares outstanding.  PXD has a 52-week high of $106.07 with the low being $54.89 dollars.

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