Crescent Grove Advisors LLC Purchases Shares of 4,690 Pioneer Natural Resources (NYSE:PXD)

Crescent Grove Advisors LLC purchased a new stake in Pioneer Natural Resources (NYSE:PXD – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,690 shares of the oil and gas development company’s stock, valued at approximately $1,016,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in Pioneer Natural Resources by 144.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,346,688 shares of the oil and gas development company’s stock valued at $969,659,000 after buying an additional 2,569,044 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Pioneer Natural Resources by 22.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,489,330 shares of the oil and gas development company’s stock valued at $1,447,639,000 after buying an additional 1,198,899 shares during the period. Yacktman Asset Management LP acquired a new position in Pioneer Natural Resources in the third quarter valued at approximately $148,728,000. Pacer Advisors Inc. lifted its holdings in Pioneer Natural Resources by 173,689.1% in the third quarter. Pacer Advisors Inc. now owns 622,165 shares of the oil and gas development company’s stock valued at $134,717,000 after buying an additional 621,807 shares during the period. Finally, Marsico Capital Management LLC acquired a new position in Pioneer Natural Resources in the second quarter valued at approximately $85,117,000. 89.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PXD. Raymond James cut their price objective on shares of Pioneer Natural Resources from $310.00 to $300.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 26th. Truist Financial upped their target price on shares of Pioneer Natural Resources from $219.00 to $261.00 in a research note on Monday, October 31st. Citigroup upped their target price on shares of Pioneer Natural Resources to $255.00 in a research note on Thursday, November 17th. Morgan Stanley lowered their target price on shares of Pioneer Natural Resources from $261.00 to $247.00 and set an “underweight” rating for the company in a research note on Tuesday, January 24th. Finally, TD Securities upped their target price on shares of Pioneer Natural Resources from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, October 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $274.39.

Pioneer Natural Resources Stock Down 3.0 %

Pioneer Natural Resources stock traded down $6.85 during mid-day trading on Wednesday, reaching $223.50. The company’s stock had a trading volume of 716,177 shares, compared to its average volume of 1,579,727. The company has a market capitalization of $54.08 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. Pioneer Natural Resources has a 12 month low of $200.09 and a 12 month high of $288.46. The business’s 50 day simple moving average is $231.77 and its 200 day simple moving average is $237.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 1.03.

Pioneer Natural Resources Profile

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Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.