Baird Financial Group Inc. Decreases Position in Pioneer Natural Resources (PXD)

Baird Financial Group Inc. reduced its stake in Pioneer Natural Resources (NYSE:PXD) by 67.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,753 shares of the oil and gas development company’s stock after selling 22,765 shares during the period. Baird Financial Group Inc.’s holdings in Pioneer Natural Resources were worth $2,035,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PXD. FMR LLC raised its stake in Pioneer Natural Resources by 27.9% in the second quarter. FMR LLC now owns 6,431,051 shares of the oil and gas development company’s stock worth $1,217,012,000 after buying an additional 1,401,626 shares in the last quarter. BlackRock Inc. raised its stake in Pioneer Natural Resources by 9.1% in the second quarter. BlackRock Inc. now owns 12,425,606 shares of the oil and gas development company’s stock worth $2,351,423,000 after buying an additional 1,032,381 shares in the last quarter. Bessemer Group Inc. raised its stake in Pioneer Natural Resources by 892.8% in the second quarter. Bessemer Group Inc. now owns 844,901 shares of the oil and gas development company’s stock worth $159,889,000 after buying an additional 759,801 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Pioneer Natural Resources by 209.4% in the first quarter. Point72 Asset Management L.P. now owns 850,008 shares of the oil and gas development company’s stock worth $146,014,000 after buying an additional 575,314 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in Pioneer Natural Resources by 14.8% in the first quarter. Artisan Partners Limited Partnership now owns 2,250,210 shares of the oil and gas development company’s stock worth $386,541,000 after buying an additional 290,908 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

NYSE:PXD opened at $170.43 on Friday. Pioneer Natural Resources has a 52 week low of $135.31 and a 52 week high of $213.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 1.09. The company has a market cap of $28.96 billion, a PE ratio of 78.90, a PEG ratio of 1.80 and a beta of 0.98.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, August 7th. The oil and gas development company reported $1.41 EPS for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.08). Pioneer Natural Resources had a net margin of 12.23% and a return on equity of 7.29%. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.27 billion. equities analysts predict that Pioneer Natural Resources will post 6.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.16 per share. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, September 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.38%. Pioneer Natural Resources’s dividend payout ratio is presently 14.81%.

A number of equities analysts recently issued reports on PXD shares. TD Securities started coverage on shares of Pioneer Natural Resources in a research note on Thursday, July 5th. They issued a “buy” rating and a $240.00 price target for the company. Morgan Stanley began coverage on shares of Pioneer Natural Resources in a research note on Thursday, July 12th. They issued an “overweight” rating and a $240.00 price target for the company. Robert W. Baird set a $225.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Friday, July 27th. Zacks Investment Research downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $245.00 target price on shares of Pioneer Natural Resources in a research note on Friday, July 13th. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Pioneer Natural Resources has a consensus rating of “Buy” and a consensus target price of $232.57.

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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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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