Channing Capital Management LLC Has $8.38 Million Holdings in Pioneer Natural Resources (PXD)

Channing Capital Management LLC trimmed its position in shares of Pioneer Natural Resources (NYSE:PXD) by 14.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,129 shares of the oil and gas development company’s stock after selling 8,015 shares during the period. Channing Capital Management LLC’s holdings in Pioneer Natural Resources were worth $8,384,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PXD. FMR LLC grew its stake in Pioneer Natural Resources by 27.9% during 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. grew its stake in Pioneer Natural Resources by 9.1% during 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. Primecap Management Co. CA grew its stake in Pioneer Natural Resources by 3,019.1% during the third quarter. Primecap Management Co. CA now owns 514,650 shares of the oil and gas development company’s stock worth $89,647,000 after buying an additional 498,150 shares in the last quarter. PointState Capital LP acquired a new stake in Pioneer Natural Resources during the second quarter worth about $83,764,000. Finally, Morgan Stanley grew its stake in Pioneer Natural Resources by 39.3% during the second quarter. Morgan Stanley now owns 961,513 shares of the oil and gas development company’s stock worth $181,958,000 after buying an additional 271,144 shares in the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.

NYSE:PXD opened at $153.38 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.20. Pioneer Natural Resources has a one year low of $140.54 and a one year high of $213.40. The company has a market cap of $25.19 billion, a P/E ratio of 71.01, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.69 by $0.38. Pioneer Natural Resources had a net margin of 15.98% and a return on equity of 9.47%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company earned $0.48 EPS. The firm’s revenue was up 112.2% compared to the same quarter last year. On average, analysts expect that Pioneer Natural Resources will post 7.17 earnings per share for the current fiscal year.

A number of brokerages have issued reports on PXD. Williams Capital reiterated a “hold” rating and set a $225.00 price objective on shares of Pioneer Natural Resources in a research note on Tuesday, August 21st. Oppenheimer began coverage on shares of Pioneer Natural Resources in a research note on Wednesday, October 3rd. They set a “market perform” rating on the stock. Seaport Global Securities downgraded shares of Pioneer Natural Resources from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $230.00 to $210.00 in a research note on Wednesday, October 10th. UBS Group upgraded shares of Pioneer Natural Resources from a “neutral” rating to a “positive” rating in a research note on Monday, September 17th. Finally, Cowen began coverage on shares of Pioneer Natural Resources in a research note on Thursday, November 29th. They set an “outperform” rating and a $230.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $231.58.

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Pioneer Natural Resources Company 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.

See Also: Price to Earnings Ratio (PE)

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

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