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Has PXD - Pioneer Natural Resources run out of gas?

|Includes: Pioneer Natural Resources Company (PXD)

Gas and oil prices have been on a tear recently but just how far can they go? Pioneer Natural Resources -- PXD --is featured in Financial Tides as a pick of the day. According to Yahoo Financial : Pioneer Natural Resources Company engages in the exploration and production of oil and gas in the United States, South Africa, and Tunisia. It produces crude oil, natural gas, and natural gas liquids. The company primarily holds interests in the Spraberry field in the Permian Basin area; the Hugoton and West Panhandle fields in the Mid-Continent area; and the Raton field in the Rocky Mountains area. As of December 31, 2008, it had proved undeveloped reserves and proved developed reserves of approximately 246 million barrels of oil and natural gas liquids; and 1,064 billion cubic feet of gas. The company was founded in 1997 and is headquartered in Irving, Texas.

Of the 15 analysts following PXD 9 rate it a buy or strong buy. This year there is an estimate of a 12 cent loss but next year the company is expected to make 1.63 per share. A very nice increase. In the last 30 days 6 of the analysts have increased their EPS estimates for next year.

On a technical analysis basis BarChart rates PXD a 96% buy with 12 of 13 technical indicators a buy and only 1 hold. The stock has traded into 14 new highs in the last 20 session and has had a 75% price appreciation in the last 65 days.

What's not to like about the stock? With half of the analysts following PXD creating a BUY buzz mentality and the technical indicators show that the buzz in presently working, you should consider this stock.

Recommendation : Buy PXD - Pioneer Natural Resources around 45 with a protective stop loss no lower than 35. Be prepared to move that up on a weekly basis till the stock runs out of gas.

Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please comment below or an email to FinancialTides@gmail.com

Disclosure: I hold no position in PXD at time of this publication.