Cetera Advisors LLC bought a new stake in Pioneer Natural Resources (NYSE:PXD) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,244 shares of the oil and gas development company’s stock, valued at approximately $215,000.
Other hedge funds also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its stake in Pioneer Natural Resources by 1.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 247,807 shares of the oil and gas development company’s stock valued at $36,561,000 after buying an additional 4,040 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Pioneer Natural Resources by 2,357.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 739,763 shares of the oil and gas development company’s stock valued at $109,145,000 after acquiring an additional 709,663 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Pioneer Natural Resources by 4.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 566,122 shares of the oil and gas development company’s stock valued at $83,526,000 after acquiring an additional 26,050 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in Pioneer Natural Resources by 25.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 171,902 shares of the oil and gas development company’s stock valued at $25,362,000 after acquiring an additional 34,342 shares during the last quarter. Finally, Timber Creek Capital Management LLC acquired a new position in Pioneer Natural Resources in the 4th quarter valued at $1,519,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Chris J. Cheatwood sold 2,201 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $167.82, for a total value of $369,371.82. Following the completion of the sale, the executive vice president now directly owns 42,909 shares in the company, valued at approximately $7,200,988.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Stephen Berg sold 2,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $154.47, for a total value of $308,940.00. Following the completion of the sale, the executive vice president now owns 48,719 shares of the company’s stock, valued at $7,525,623.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,306 shares of company stock valued at $4,506,785. 0.89% of the stock is owned by insiders.
Several brokerages have weighed in on PXD. Mizuho reiterated a “buy” rating and issued a $196.00 price target on shares of Pioneer Natural Resources in a report on Friday, November 3rd. JPMorgan Chase & Co. set a $185.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a report on Wednesday, January 3rd. National Alliance Securities upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating in a report on Monday, February 12th. Citigroup boosted their price target on Pioneer Natural Resources from $215.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Credit Suisse Group began coverage on Pioneer Natural Resources in a report on Monday, December 11th. They issued an “outperform” rating and a $192.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $210.30.
Shares of Pioneer Natural Resources (PXD) opened at $178.25 on Wednesday. Pioneer Natural Resources has a twelve month low of $125.46 and a twelve month high of $196.91. The stock has a market capitalization of $30,330.00, a price-to-earnings ratio of 36.38, a P/E/G ratio of 2.91 and a beta of 0.92. 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 (NYSE:PXD) last announced its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.63. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned $0.49 EPS. The firm’s quarterly revenue was up 48.4% compared to the same quarter last year. equities analysts anticipate that Pioneer Natural Resources will post 5.69 earnings per share for the current year.
Pioneer Natural Resources announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a $0.16 dividend. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. This represents a yield of 0.18%. The ex-dividend date is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio is currently 1.63%.
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Pioneer Natural Resources Profile
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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