PXD is one of the Elite Eight in our Sweet 16 Growth Portfolio. After careful review of their Q4 results and year-end reserve report, I have updated my forecast / valuation model. It will be posted to the EPG website late today.
I have increased my valuation by $12/share to $240/share. My valuation compares to First Call's price target of $220.73.
Keep in mind that it takes several weeks before First Call's forecasts are updated. Their revenue, EPS, CFPS and price targets are the average of forecasts submitted to Reuters by Wall Street analysts.
-----------------------------
I am expecting all of the Sweet 16 to announce big increases in their proven reserves. News and clear guidance for 2017 will move these stocks.
The next Sweet 16 to announce Q4 results will be NBL, DVN, FANG, GPOR and XEC. All of them will announce next week.
Pioneer Natural Resources (PXD)
Pioneer Natural Resources (PXD)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group