Clearbridge LLC lessened its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 14.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,713 shares of the oil and gas development company’s stock after selling 6,799 shares during the period. Pioneer Natural Resources accounts for approximately 1.5% of Clearbridge LLC’s investment portfolio, making the stock its 28th biggest holding. Clearbridge LLC’s holdings in Pioneer Natural Resources were worth $5,092,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in Pioneer Natural Resources by 31.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 30,835 shares of the oil and gas development company’s stock worth $5,370,000 after acquiring an additional 7,361 shares during the period. Private Advisor Group LLC raised its stake in Pioneer Natural Resources by 66.3% during the 3rd quarter. Private Advisor Group LLC now owns 3,943 shares of the oil and gas development company’s stock worth $687,000 after acquiring an additional 1,572 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Pioneer Natural Resources by 47.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,648 shares of the oil and gas development company’s stock valued at $1,158,000 after purchasing an additional 2,149 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of Pioneer Natural Resources by 32.6% in the third quarter. WINTON GROUP Ltd now owns 3,590 shares of the oil and gas development company’s stock valued at $625,000 after purchasing an additional 882 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Pioneer Natural Resources by 20.8% in the third quarter. Janney Montgomery Scott LLC now owns 10,701 shares of the oil and gas development company’s stock valued at $1,864,000 after purchasing an additional 1,840 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the stock. MKM Partners assumed coverage on shares of Pioneer Natural Resources in a report on Wednesday, December 5th. They issued a “buy” rating and a $213.00 target price for the company. Cowen assumed coverage on shares of Pioneer Natural Resources in a report on Thursday, November 29th. They issued an “outperform” rating and a $230.00 target price for the company. SunTrust Banks reissued a “buy” rating and issued a $215.00 target price on shares of Pioneer Natural Resources in a report on Thursday, November 29th. Morgan Stanley set a $185.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Tuesday, January 29th. Finally, Barclays set a $190.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. Pioneer Natural Resources has an average rating of “Buy” and a consensus price target of $215.07.
NYSE PXD opened at $136.37 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm has a market cap of $22.73 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.78 and a beta of 0.98. Pioneer Natural Resources has a 52 week low of $119.08 and a 52 week high of $213.40.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Wednesday, February 13th. The oil and gas development company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.30). The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Pioneer Natural Resources had a return on equity of 9.25% and a net margin of 10.40%. The firm’s quarterly revenue was up 75.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 earnings per share. Analysts predict that Pioneer Natural Resources will post 7.4 EPS for the current fiscal year.
The business also recently announced a semiannual dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.32 per share. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.16. This represents a dividend yield of 0.45%. The ex-dividend date is Thursday, March 28th. Pioneer Natural Resources’s payout ratio is currently 5.07%.
Pioneer Natural Resources announced that its Board of Directors has initiated a share buyback plan on Thursday, December 13th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas development company to purchase up to 8.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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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.
Further Reading: How to calculate the intrinsic value of a stock
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