Vestmark Advisory Solutions Inc. raised its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 12.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,326 shares of the oil and gas development company’s stock after acquiring an additional 916 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Pioneer Natural Resources were worth $1,047,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PXD. Price T Rowe Associates Inc. MD lifted its stake in Pioneer Natural Resources by 35.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,623,503 shares of the oil and gas development company’s stock valued at $1,788,392,000 after acquiring an additional 3,032,727 shares during the period. Primecap Management Co. CA lifted its stake in Pioneer Natural Resources by 203.6% during the 2nd quarter. Primecap Management Co. CA now owns 4,150,495 shares of the oil and gas development company’s stock valued at $638,595,000 after acquiring an additional 2,783,199 shares during the period. BlackRock Inc. lifted its stake in Pioneer Natural Resources by 9.6% during the 2nd quarter. BlackRock Inc. now owns 11,490,193 shares of the oil and gas development company’s stock valued at $1,767,880,000 after acquiring an additional 1,008,677 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Pioneer Natural Resources by 1,105.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 820,509 shares of the oil and gas development company’s stock valued at $126,243,000 after purchasing an additional 752,470 shares during the period. Finally, USS Investment Management Ltd lifted its stake in shares of Pioneer Natural Resources by 37.1% in the 3rd quarter. USS Investment Management Ltd now owns 1,164,718 shares of the oil and gas development company’s stock valued at $146,492,000 after purchasing an additional 315,100 shares during the period. Institutional investors and hedge funds own 87.59% of the company’s stock.
In related news, EVP Chris J. Cheatwood sold 5,619 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $140.35, for a total value of $788,626.65. Following the completion of the sale, the executive vice president now owns 39,027 shares of the company’s stock, valued at approximately $5,477,439.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J Kenneth Thompson bought 500 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average cost of $121.01 per share, with a total value of $60,505.00. Following the acquisition, the director now directly owns 13,024 shares of the company’s stock, valued at $1,576,034.24. The disclosure for this purchase can be found here. 0.91% of the stock is currently owned by insiders.
PXD has been the subject of several analyst reports. ValuEngine cut shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Williams Capital reiterated a “buy” rating and issued a $190.00 target price on shares of Pioneer Natural Resources in a research note on Tuesday, November 5th. Robert W. Baird boosted their target price on shares of Pioneer Natural Resources from $142.00 to $157.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Mizuho upgraded shares of Pioneer Natural Resources from a “neutral” rating to a “buy” rating and set a $191.00 target price for the company in a research note on Thursday, October 10th. Finally, Wells Fargo & Co decreased their target price on shares of Pioneer Natural Resources from $200.00 to $197.00 and set an “outperform” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $187.31.
NYSE PXD traded down $2.63 on Wednesday, hitting $133.50. The company had a trading volume of 1,038,597 shares, compared to its average volume of 1,756,819. The company has a market capitalization of $22.14 billion, a PE ratio of 21.16, a PEG ratio of 0.99 and a beta of 1.14. The company’s fifty day moving average price is $128.59 and its 200-day moving average price is $137.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.78 and a quick ratio of 0.68. Pioneer Natural Resources has a 12-month low of $114.79 and a 12-month high of $178.22.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Monday, November 4th. The oil and gas development company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.03). The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Pioneer Natural Resources had a return on equity of 9.86% and a net margin of 7.88%. Pioneer Natural Resources’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 EPS. On average, sell-side analysts anticipate that Pioneer Natural Resources will post 8.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, December 30th. Pioneer Natural Resources’s payout ratio is presently 13.95%.
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.
Further Reading: Calculating net profit and net profit margin ratio
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