Element Capital Management LLC bought a new stake in Pioneer Natural Resources (NYSE:PXD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 198,239 shares of the oil and gas development company’s stock, valued at approximately $34,266,000. Element Capital Management LLC owned about 0.12% of Pioneer Natural Resources at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in PXD. Raymond James Financial Services Advisors Inc. increased its stake in Pioneer Natural Resources by 18.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 97,291 shares of the oil and gas development company’s stock worth $14,355,000 after acquiring an additional 15,043 shares during the last quarter. Victory Capital Management Inc. increased its stake in Pioneer Natural Resources by 690.7% during the third quarter. Victory Capital Management Inc. now owns 23,175 shares of the oil and gas development company’s stock worth $3,419,000 after acquiring an additional 20,244 shares during the last quarter. Toronto Dominion Bank increased its stake in Pioneer Natural Resources by 11.3% during the third quarter. Toronto Dominion Bank now owns 67,959 shares of the oil and gas development company’s stock worth $10,027,000 after acquiring an additional 6,904 shares during the last quarter. Rhumbline Advisers increased its stake in Pioneer Natural Resources by 1.6% during the third quarter. Rhumbline Advisers now owns 307,066 shares of the oil and gas development company’s stock worth $45,305,000 after acquiring an additional 4,694 shares during the last quarter. Finally, Comerica Bank increased its stake in Pioneer Natural Resources by 2.1% during the third quarter. Comerica Bank now owns 56,202 shares of the oil and gas development company’s stock worth $8,221,000 after acquiring an additional 1,168 shares during the last quarter. Hedge funds and other institutional investors own 89.40% of the company’s stock.
Shares of PXD opened at $168.13 on Friday. The stock has a market capitalization of $29,364.96, a P/E ratio of 77.84, a price-to-earnings-growth ratio of 2.10 and a beta of 0.96. Pioneer Natural Resources has a one year low of $125.46 and a one year high of $192.93. The company has a quick ratio of 1.31, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $0.49 earnings per share. Pioneer Natural Resources’s revenue for the quarter was up 48.4% on a year-over-year basis. research analysts anticipate that Pioneer Natural Resources will post 6.47 EPS for the current year.
The company also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.16 per share. This represents a yield of 0.18%. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 14.81%.
Pioneer Natural Resources announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas development company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
Several brokerages have commented on PXD. National Alliance Securities upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research note on Monday, February 12th. Citigroup upped their target price on Pioneer Natural Resources from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Jefferies Group reaffirmed a “buy” rating and issued a $235.00 target price on shares of Pioneer Natural Resources in a research report on Monday, March 19th. Credit Suisse Group started coverage on Pioneer Natural Resources in a research report on Monday, December 11th. They issued an “outperform” rating and a $192.00 target price for the company. Finally, JPMorgan Chase set a $185.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. Pioneer Natural Resources currently has a consensus rating of “Buy” and an average target price of $212.45.
In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 2,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $180.00, for a total transaction of $360,000.00. Following the transaction, the director now owns 582,600 shares of the company’s stock, valued at approximately $104,868,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mark H. Kleinman sold 1,150 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $180.17, for a total value of $207,195.50. Following the transaction, the senior vice president now directly owns 13,327 shares in the company, valued at approximately $2,401,125.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,207 shares of company stock worth $3,219,653. 0.89% of the stock is currently owned by company insiders.
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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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