Morgan Stanley Reports Initiation of Pioneer Natural Resources (PXD) with $240 Target; Bank Of Nova Scotia Lifted Canadian Pac Ry LTD (CP) Holding

July 12, 2018 - By Jimmy Cauthen

Canadian Pacific Railway Limited (NYSE:CP) Logo

Equity research analysts at Morgan Stanley has “Overweight” rating on Pioneer Natural Resources (NYSE:PXD). The firm has started coverage in a research report made public on Thursday morning. Morgan Stanley’s PT suggests upside of 31.44% from the company’s previous stock close.

Bank Of Nova Scotia increased Canadian Pac Ry Ltd (CP) stake by 24.71% reported in 2018Q1 SEC filing. Bank Of Nova Scotia acquired 112,930 shares as Canadian Pac Ry Ltd (CP)’s stock declined 1.00%. The Bank Of Nova Scotia holds 570,021 shares with $100.43M value, up from 457,091 last quarter. Canadian Pac Ry Ltd now has $26.51 billion valuation. The stock decreased 2.50% or $4.69 during the last trading session, reaching $183.07. About 389,204 shares traded. Canadian Pacific Railway Limited (NYSE:CP) has risen 16.90% since July 12, 2017 and is uptrending. It has outperformed by 4.33% the S&P500. Some Historical CP News: 30/05/2018 – Canadian Pacific Railway Strike Ends; 08/03/2018 – CANADIAN PACIFIC RAILWAY LTD – ADDITION OF JOAN HARDY, VICE-PRESIDENT, SALES AND MARKETING, GRAIN AND FERTILIZER; 20/04/2018 – CANADIAN PACIFIC RAILWAY REACHED PACT WITH TEAMSTERS; 20/04/2018 – TEAMSTERS CANADA SAYS MINISTER OF LABOUR AGREED TO CANADIAN PACIFIC’S REQUEST TO ORDER VOTE ON FINAL OFFER TO RENEW COLLECTIVE AGREEMENTS; 06/04/2018 – CANADIAN PACIFIC TEAMSTERS COULD STRIKE AS EARLY AS APRIL 21; 26/05/2018 – Canadian Pacific Teamsters, Electrical Workers File Strike Notice; 16/03/2018 – Canadian Pacific announces filing of Proxy Circular; 25/05/2018 – TCRC-Train & Engine and IBEW Vote Dn CP’s Final Offers in CIRB-administered Ratification Vote; 30/05/2018 – Teamsters: Canadian Pacific Operations to Resume at 6 AM ET Thursday; 25/05/2018 – TEAMSTERS VOTE TO REJECT CANADIAN PACIFIC OFFER

Bank Of Nova Scotia decreased Anthem Inc (NYSE:ANTM) stake by 261,731 shares to 32,623 valued at $7.17 million in 2018Q1. It also reduced Pg&E Corp (NYSE:PCG) stake by 14,061 shares and now owns 67,373 shares. American Tower Corp New (NYSE:AMT) was reduced too.

More important recent Canadian Pacific Railway Limited (NYSE:CP) news were published by: Fool.ca which released: “3 Stocks That Raised Dividends More Than 15% in 2018” on July 10, 2018, also Fool.ca published article titled: “The Major Catalyst to Short Canada’s Railways!”, Fool.ca published: “Canadian Pacific Railway Ltd. (TSX:CP) or Canadian National Railway (TSX:CNR) for Your TFSA?” on July 04, 2018. More interesting news about Canadian Pacific Railway Limited (NYSE:CP) was released by: Fool.ca and their article: “Are These 3 CEOs Worth Their Weight in Gold?” with publication date: July 02, 2018.

Among 7 analysts covering Canadian Pacific (NYSE:CP), 5 have Buy rating, 0 Sell and 2 Hold. Therefore 71% are positive. Canadian Pacific had 9 analyst reports since January 16, 2018 according to SRatingsIntel. As per Thursday, April 19, the company rating was maintained by Credit Suisse. The company was maintained on Tuesday, January 16 by Susquehanna. The stock has “Buy” rating by Credit Suisse on Thursday, March 8. The rating was maintained by Cowen & Co on Wednesday, February 28 with “Buy”. The firm has “Overweight” rating given on Friday, April 6 by Morgan Stanley. The company was maintained on Thursday, May 24 by Stifel Nicolaus. The rating was upgraded by Goldman Sachs to “Buy” on Tuesday, February 13. On Friday, June 22 the stock rating was maintained by Seaport Global with “Buy”. The firm has “Hold” rating by Susquehanna given on Monday, April 2.

Pioneer Natural Resources Company operates as an independent gas and oil exploration and production firm in the United States. The company has market cap of $31.12 billion. The firm explores for, develops, and produces oil, natural gas liquids , and gas. It has a 37.65 P/E ratio. It has activities primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado, and the West Panhandle field in the Texas Panhandle.

Since February 22, 2018, it had 0 buys, and 26 sales for $25.53 million activity. Montemayor Margaret sold $252,855 worth of Pioneer Natural Resources Company (NYSE:PXD) on Tuesday, February 27. CHEATWOOD CHRIS J also sold $1.06 million worth of Pioneer Natural Resources Company (NYSE:PXD) shares. $195,624 worth of Pioneer Natural Resources Company (NYSE:PXD) was sold by Stewart Stephanie D on Thursday, February 22. $360,000 worth of stock was sold by SHEFFIELD SCOTT D on Friday, February 23. $202,158 worth of Pioneer Natural Resources Company (NYSE:PXD) was sold by RISCH FRANK A. HANNES WILLIAM F sold 10,000 shares worth $2.03 million. $215,269 worth of Pioneer Natural Resources Company (NYSE:PXD) was sold by KLEINMAN MARK H.

The stock decreased 3.81% or $7.23 during the last trading session, reaching $182.59. About 1.85M shares traded or 20.29% up from the average. Pioneer Natural Resources Company (NYSE:PXD) has risen 13.06% since July 12, 2017 and is uptrending. It has outperformed by 0.49% the S&P500. Some Historical PXD News: 06/03/2018 – PIONEER CEO: CONVERSATION WITH OPEC AT DINNER WAS `FRUITFUL’; 27/03/2018 – Pioneer Natural to Sell Eagle Ford Acreage in Atascosa, LaSalle, Live Oak and McMullen Counties, Texas; 18/04/2018 – GLOBAL OIL: CITIGROUP SAYS STL, IMO, OSH AND HES ARE RELATIVE LOSERS; 02/05/2018 – Pioneer Natural Presenting at Morgan Stanley Conference May 8; 02/05/2018 – Pioneer Natural 1Q EPS $1.04; 03/05/2018 – PIONEER EXPECTS BIDS FOR EAGLE FORD ASSETS BY MAY: CEO DOVE; 02/05/2018 – PIONEER NATURAL 1Q ADJ EPS $1.66, EST. $1.50; 14/05/2018 – VP Hall Jr Gifts 900 Of Pioneer Natural Resources Co; 03/05/2018 – PIONEER NATURAL RESOURCES CO PXD.N CEO SAYS LIKELY TO INCREASE 2018 CAPITAL BUDGET; 11/04/2018 – PIONEER NATURAL RESOURCES CO PXD.N : BMO RAISES TARGET PRICE TO $260 FROM $250

Among 24 analysts covering Pioneer Natural Resources (NYSE:PXD), 21 have Buy rating, 0 Sell and 3 Hold. Therefore 88% are positive. Pioneer Natural Resources has $31300 highest and $193.0 lowest target. $237.39’s average target is 30.01% above currents $182.59 stock price. Pioneer Natural Resources had 43 analyst reports since January 17, 2018 according to SRatingsIntel. The rating was maintained by Williams Capital Group with “Hold” on Wednesday, February 7. The stock of Pioneer Natural Resources Company (NYSE:PXD) earned “Neutral” rating by Susquehanna on Wednesday, January 17. The company was downgraded on Wednesday, April 18 by KLR Group. Jefferies maintained the shares of PXD in report on Monday, March 19 with “Buy” rating. JP Morgan maintained the stock with “Overweight” rating in Friday, June 1 report. Susquehanna maintained Pioneer Natural Resources Company (NYSE:PXD) rating on Monday, March 5. Susquehanna has “Hold” rating and $193.0 target. On Wednesday, February 7 the stock rating was maintained by RBC Capital Markets with “Buy”. The firm has “Overweight” rating by KeyBanc Capital Markets given on Monday, April 23. Jefferies maintained it with “Buy” rating and $238.0 target in Wednesday, February 7 report. The rating was maintained by Piper Jaffray with “Buy” on Wednesday, March 14.

Analysts await Pioneer Natural Resources Company (NYSE:PXD) to report earnings on August, 7 after the close. They expect $1.60 earnings per share, up 661.90% or $1.39 from last year’s $0.21 per share. PXD’s profit will be $272.68M for 28.53 P/E if the $1.60 EPS becomes a reality. After $1.66 actual earnings per share reported by Pioneer Natural Resources Company for the previous quarter, Wall Street now forecasts -3.61% negative EPS growth.

Investors sentiment increased to 1.22 in 2018 Q1. Its up 0.35, from 0.87 in 2017Q4. It is positive, as 32 investors sold Pioneer Natural Resources Company shares while 206 reduced holdings. 87 funds opened positions while 203 raised stakes. 146.34 million shares or 1.27% less from 148.22 million shares in 2017Q4 were reported. Avenir Corporation holds 6.05% of its portfolio in Pioneer Natural Resources Company (NYSE:PXD) for 322,951 shares. Highland L P holds 70,200 shares or 0.62% of its portfolio. British Columbia Inv Management Corp reported 91,311 shares stake. Avalon Advsrs Ltd Llc holds 0.01% or 2,820 shares in its portfolio. Sir Capital Mgmt L P holds 135,770 shares. Kayne Anderson Rudnick Inv Ltd Liability Corp holds 109,184 shares. Vident Invest Advisory Limited Liability Corporation invested 0.02% of its portfolio in Pioneer Natural Resources Company (NYSE:PXD). Stratos Wealth Prtn Ltd holds 0.01% in Pioneer Natural Resources Company (NYSE:PXD) or 1,831 shares. Commonwealth Bancorporation Of Aus reported 187 shares stake. Moreover, State Board Of Administration Of Florida Retirement System has 0.11% invested in Pioneer Natural Resources Company (NYSE:PXD) for 229,368 shares. Covalent Ptnrs Llc reported 16,547 shares. 607,628 were accumulated by Schwab Charles Management Inc. Prelude Cap Management Limited Liability owns 19,084 shares or 0.24% of their US portfolio. Nomura Holdings owns 251,610 shares or 0.04% of their US portfolio. Two Creeks Mngmt Ltd Partnership holds 5.09% or 545,741 shares in its portfolio.

More notable recent Pioneer Natural Resources Company (NYSE:PXD) news were published by: Seekingalpha.com which released: “Pioneer Natural Resources: A Minor Setback” on July 02, 2018, also Fool.com with their article: “Oil Prices: Could Iran Push Crude Back Into the Triple Digits?” published on July 10, 2018, Seekingalpha.com published: “US Shale: NAV Analysis Of Permian Basin – Midland Basin E&Ps – 2018 Q1 Update” on July 01, 2018. More interesting news about Pioneer Natural Resources Company (NYSE:PXD) were released by: Seekingalpha.com and their article: “Permian Bottlenecks Come At The Worst Moment” published on July 05, 2018 as well as Seekingalpha.com‘s news article titled: “Exxon, Chevron head new methane emissions consortium” with publication date: June 26, 2018.

Pioneer Natural Resources Company (NYSE:PXD) Institutional Positions Chart

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