Commonwealth Bank of Australia raised its stake in Pioneer Natural Resources (NYSE:PXD) by 75.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,566 shares of the oil and gas development company’s stock after acquiring an additional 4,115 shares during the period. Commonwealth Bank of Australia’s holdings in Pioneer Natural Resources were worth $1,252,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PXD. Capital International Investors bought a new stake in Pioneer Natural Resources in the 3rd quarter valued at $783,866,000. Primecap Management Co. CA increased its holdings in Pioneer Natural Resources by 3,019.1% in the 3rd quarter. Primecap Management Co. CA now owns 514,650 shares of the oil and gas development company’s stock valued at $89,647,000 after acquiring an additional 498,150 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Pioneer Natural Resources by 10.4% in the 3rd quarter. Clearbridge Investments LLC now owns 3,069,833 shares of the oil and gas development company’s stock valued at $534,734,000 after acquiring an additional 290,320 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Pioneer Natural Resources by 325.9% in the 3rd quarter. Janus Henderson Group PLC now owns 354,217 shares of the oil and gas development company’s stock valued at $61,701,000 after acquiring an additional 271,046 shares during the last quarter. Finally, Caymus Capital Partners L.P. bought a new stake in Pioneer Natural Resources in the 3rd quarter valued at $44,175,000. Institutional investors own 87.26% of the company’s stock.
PXD has been the topic of a number of research reports. Imperial Capital set a $199.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Friday, February 15th. Seaport Global Securities raised shares of Pioneer Natural Resources from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $210.00 to $215.00 in a research note on Monday, December 10th. Mizuho set a $206.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday, November 28th. Citigroup dropped their price objective on shares of Pioneer Natural Resources from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, February 19th. Finally, ValuEngine cut shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Monday, November 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $215.07.
PXD stock opened at $136.37 on Friday. Pioneer Natural Resources has a 12 month low of $119.08 and a 12 month high of $213.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.29. The stock has a market cap of $22.73 billion, a P/E ratio of 21.61, a PEG ratio of 1.78 and a beta of 0.98.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Wednesday, February 13th. The oil and gas development company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.30). Pioneer Natural Resources had a return on equity of 9.25% and a net margin of 10.40%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. Pioneer Natural Resources’s revenue for the quarter was up 75.4% on a year-over-year basis. As a group, research analysts expect that Pioneer Natural Resources will post 7.4 earnings per share for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be given a $0.32 dividend. This represents a yield of 0.45%. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.16. The ex-dividend date is Thursday, March 28th. Pioneer Natural Resources’s payout ratio is 5.07%.
Pioneer Natural Resources announced that its board has initiated a stock repurchase plan on Thursday, December 13th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas development company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Pioneer Natural Resources news, CEO Timothy L. Dove sold 4,800 shares of the business’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $134.18, for a total value of $644,064.00. Following the completion of the sale, the chief executive officer now directly owns 276,901 shares of the company’s stock, valued at approximately $37,154,576.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew F. Cates acquired 790 shares of the stock in a transaction on Thursday, December 27th. The stock was bought at an average cost of $124.27 per share, with a total value of $98,173.30. Following the completion of the transaction, the director now owns 13,370 shares in the company, valued at $1,661,489.90. The disclosure for this purchase can be found here. 0.92% of the stock is owned by insiders.
Pioneer Natural Resources Profile
Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations 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.
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