Kornitzer Capital Management Inc. KS cut its holdings in Pioneer Natural Resources (NYSE:PXD) by 88.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,500 shares of the oil and gas development company’s stock after selling 11,500 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Pioneer Natural Resources were worth $259,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its stake in shares of Pioneer Natural Resources by 2,357.7% in the third quarter. Point72 Asset Management L.P. now owns 739,763 shares of the oil and gas development company’s stock worth $109,145,000 after purchasing an additional 709,663 shares in the last quarter. Janus Henderson Group PLC grew its stake in Pioneer Natural Resources by 1,138.7% during the second quarter. Janus Henderson Group PLC now owns 577,107 shares of the oil and gas development company’s stock valued at $92,095,000 after acquiring an additional 530,517 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in Pioneer Natural Resources during the third quarter valued at $75,317,000. Swedbank grew its stake in Pioneer Natural Resources by 31.4% during the third quarter. Swedbank now owns 1,797,382 shares of the oil and gas development company’s stock valued at $265,186,000 after acquiring an additional 429,705 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Pioneer Natural Resources by 20.2% during the third quarter. American Century Companies Inc. now owns 2,286,903 shares of the oil and gas development company’s stock valued at $337,410,000 after acquiring an additional 384,485 shares in the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.
Shares of Pioneer Natural Resources (NYSE:PXD) traded up $7.35 on Wednesday, hitting $179.52. 1,066,881 shares of the company were exchanged, compared to its average volume of 1,865,258. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.31. Pioneer Natural Resources has a 12-month low of $125.46 and a 12-month high of $199.40. The stock has a market capitalization of $30,080.00, a price-to-earnings ratio of 36.56, a P/E/G ratio of 2.90 and a beta of 0.92.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.63. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. Pioneer Natural Resources’s quarterly revenue was up 48.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. equities analysts anticipate that Pioneer Natural Resources will post 5.46 EPS for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.16 per share. This represents a dividend yield of 0.18%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio is currently 1.63%.
Pioneer Natural Resources declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities analysts recently weighed in on PXD shares. TheStreet raised shares of Pioneer Natural Resources from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. SunTrust Banks reissued a “buy” rating and issued a $180.00 price objective on shares of Pioneer Natural Resources in a research note on Friday, November 3rd. Mizuho restated a “buy” rating and issued a $196.00 target price on shares of Pioneer Natural Resources in a report on Friday, November 3rd. Jefferies Group raised their target price on shares of Pioneer Natural Resources from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Finally, KeyCorp set a $180.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Saturday, October 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Pioneer Natural Resources presently has a consensus rating of “Buy” and an average target price of $211.77.
In other Pioneer Natural Resources news, EVP Chris J. Cheatwood sold 2,201 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $167.82, for a total value of $369,371.82. Following the transaction, the executive vice president now directly owns 42,909 shares in the company, valued at $7,200,988.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Frank E. Hopkins sold 2,000 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $160.00, for a total transaction of $320,000.00. Following the completion of the transaction, the senior vice president now owns 38,101 shares in the company, valued at $6,096,160. The disclosure for this sale can be found here. Insiders have sold 25,306 shares of company stock worth $4,164,925 in the last three months. Corporate insiders own 0.89% of the company’s stock.
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About Pioneer Natural Resources
Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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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