Red Spruce Capital LLC Makes New $1.57 Million Investment in Pioneer Natural Resources (NYSE:PXD)

Red Spruce Capital LLC acquired a new position in shares of Pioneer Natural Resources (NYSE:PXD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,378 shares of the oil and gas development company’s stock, valued at approximately $1,571,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PXD. Price T Rowe Associates Inc. MD boosted its stake in shares of Pioneer Natural Resources by 35.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,623,503 shares of the oil and gas development company’s stock valued at $1,788,392,000 after purchasing an additional 3,032,727 shares during the period. Primecap Management Co. CA boosted its stake in shares of Pioneer Natural Resources by 203.6% in the second quarter. Primecap Management Co. CA now owns 4,150,495 shares of the oil and gas development company’s stock valued at $638,595,000 after purchasing an additional 2,783,199 shares during the period. BlackRock Inc. boosted its stake in shares of Pioneer Natural Resources by 9.6% in the second quarter. BlackRock Inc. now owns 11,490,193 shares of the oil and gas development company’s stock valued at $1,767,880,000 after purchasing an additional 1,008,677 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Pioneer Natural Resources by 1,105.9% in the second quarter. Nuveen Asset Management LLC now owns 820,509 shares of the oil and gas development company’s stock valued at $126,243,000 after purchasing an additional 752,470 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Pioneer Natural Resources by 6,924.3% in the third quarter. Point72 Asset Management L.P. now owns 696,668 shares of the oil and gas development company’s stock valued at $87,620,000 after purchasing an additional 686,750 shares during the period. Institutional investors own 87.17% of the company’s stock.

Shares of NYSE:PXD opened at $145.40 on Thursday. The stock has a market capitalization of $24.31 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. Pioneer Natural Resources has a 1-year low of $114.79 and a 1-year high of $178.22. The company’s fifty day moving average is $143.53 and its two-hundred day moving average is $134.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.78.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Monday, November 4th. The oil and gas development company reported $1.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.02 by ($0.03). The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.32 billion. Pioneer Natural Resources had a return on equity of 9.86% and a net margin of 7.88%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the company posted $2.07 earnings per share. Sell-side analysts expect that Pioneer Natural Resources will post 8.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.44 per share. The ex-dividend date was Monday, December 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.21%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 27.89%.

In other Pioneer Natural Resources news, CAO Margaret Montemayor sold 1,200 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $133.90, for a total transaction of $160,680.00. Also, EVP Mark Stephen Berg sold 2,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $133.90, for a total transaction of $267,800.00. Insiders have sold 8,323 shares of company stock worth $1,173,258 over the last three months. 0.91% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on PXD shares. Barclays decreased their target price on shares of Pioneer Natural Resources from $223.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Citigroup reaffirmed a “buy” rating and issued a $175.00 price target (up from $173.00) on shares of Pioneer Natural Resources in a report on Wednesday, November 13th. Mizuho raised shares of Pioneer Natural Resources from a “neutral” rating to a “buy” rating and set a $191.00 price target on the stock in a report on Thursday, October 10th. Raymond James cut their price target on shares of Pioneer Natural Resources from $220.00 to $180.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 17th. Finally, Williams Capital reaffirmed a “buy” rating and issued a $190.00 price target on shares of Pioneer Natural Resources in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $177.82.

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.

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

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