Pioneer Natural Resources (PXD) Stake Lowered by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its holdings in Pioneer Natural Resources (NYSE:PXD) by 41.3% during the first quarter, Holdings Channel reports. The fund owned 24,600 shares of the oil and gas development company’s stock after selling 17,300 shares during the period. Lord Abbett & CO. LLC’s holdings in Pioneer Natural Resources were worth $4,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Pioneer Natural Resources by 1.1% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 26,728 shares of the oil and gas development company’s stock valued at $4,591,000 after acquiring an additional 300 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Pioneer Natural Resources by 14.3% in the 1st quarter. Private Advisor Group LLC now owns 2,519 shares of the oil and gas development company’s stock valued at $433,000 after purchasing an additional 316 shares during the period. Thornburg Investment Management Inc. boosted its position in shares of Pioneer Natural Resources by 0.5% in the 1st quarter. Thornburg Investment Management Inc. now owns 67,189 shares of the oil and gas development company’s stock valued at $11,542,000 after purchasing an additional 330 shares during the period. Neuburgh Advisers LLC boosted its position in shares of Pioneer Natural Resources by 7.8% in the 1st quarter. Neuburgh Advisers LLC now owns 4,640 shares of the oil and gas development company’s stock valued at $797,000 after purchasing an additional 336 shares during the period. Finally, Covington Capital Management boosted its position in shares of Pioneer Natural Resources by 6.9% in the 1st quarter. Covington Capital Management now owns 5,501 shares of the oil and gas development company’s stock valued at $945,000 after purchasing an additional 356 shares during the period. Institutional investors and hedge funds own 87.50% of the company’s stock.

PXD opened at $185.65 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $30.34 billion, a PE ratio of 85.95, a price-to-earnings-growth ratio of 1.90 and a beta of 0.89. Pioneer Natural Resources has a 12 month low of $125.46 and a 12 month high of $213.40.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Wednesday, May 2nd. The oil and gas development company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.50 by $0.16. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Pioneer Natural Resources had a return on equity of 5.57% and a net margin of 15.56%. The company’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. research analysts forecast that Pioneer Natural Resources will post 7.13 EPS for the current fiscal year.

PXD has been the subject of a number of research analyst reports. BMO Capital Markets reissued a “buy” rating and issued a $250.00 target price on shares of Pioneer Natural Resources in a research report on Tuesday, February 27th. UBS Group initiated coverage on Pioneer Natural Resources in a research report on Wednesday, March 7th. They issued a “buy” rating and a $215.00 target price for the company. Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of Pioneer Natural Resources in a research report on Wednesday, March 7th. Piper Jaffray Companies set a $227.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Wednesday, March 14th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $235.00 target price on shares of Pioneer Natural Resources in a research report on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $220.18.

In other news, Director Edison C. Buchanan sold 2,693 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $203.04, for a total value of $546,786.72. Following the completion of the sale, the director now directly owns 24,596 shares of the company’s stock, valued at approximately $4,993,971.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy L. Dove sold 2,178 shares of the firm’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $212.44, for a total value of $462,694.32. Following the completion of the sale, the chief executive officer now directly owns 278,901 shares of the company’s stock, valued at $59,249,728.44. The disclosure for this sale can be found here. Insiders sold a total of 73,265 shares of company stock valued at $14,990,928 over the last three months. Insiders own 0.92% of the company’s stock.

About Pioneer Natural Resources

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.

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

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