Commerce Bank boosted its stake in shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 526,502 shares of the oil and gas development company’s stock after acquiring an additional 35,424 shares during the quarter. Pioneer Natural Resources makes up approximately 1.0% of Commerce Bank’s holdings, making the stock its 17th biggest holding. Commerce Bank owned about 0.22% of Pioneer Natural Resources worth $114,004,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in PXD. Selective Wealth Management Inc. bought a new stake in Pioneer Natural Resources during the 2nd quarter worth about $28,000. Ronald Blue Trust Inc. grew its holdings in Pioneer Natural Resources by 84.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 127 shares of the oil and gas development company’s stock worth $29,000 after acquiring an additional 58 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in Pioneer Natural Resources during the 2nd quarter worth about $30,000. JFS Wealth Advisors LLC boosted its stake in shares of Pioneer Natural Resources by 79.2% in the 2nd quarter. JFS Wealth Advisors LLC now owns 138 shares of the oil and gas development company’s stock valued at $31,000 after purchasing an additional 61 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Pioneer Natural Resources by 106.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 169 shares of the oil and gas development company’s stock valued at $37,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 89.75% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on PXD shares. KeyCorp reduced their target price on shares of Pioneer Natural Resources from $290.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, December 8th. TD Securities lifted their price objective on shares of Pioneer Natural Resources from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, October 28th. Jefferies Financial Group assumed coverage on shares of Pioneer Natural Resources in a research note on Wednesday, October 19th. They set a “hold” rating and a $261.00 price objective on the stock. Barclays lifted their price objective on shares of Pioneer Natural Resources from $277.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Raymond James dropped their target price on shares of Pioneer Natural Resources from $315.00 to $310.00 and set a “strong-buy” rating on the stock in a report on Monday, October 24th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $274.94.
Pioneer Natural Resources Stock Performance
Pioneer Natural Resources (NYSE:PXD – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The oil and gas development company reported $7.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.43 by $0.05. Pioneer Natural Resources had a return on equity of 31.82% and a net margin of 30.33%. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $6.56 billion. On average, equities research analysts predict that Pioneer Natural Resources will post 30.73 earnings per share for the current year.
Pioneer Natural Resources Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were issued a $5.71 dividend. This represents a $22.84 annualized dividend and a yield of 9.61%. The ex-dividend date was Tuesday, November 29th. Pioneer Natural Resources’s payout ratio is presently 15.69%.
Pioneer Natural Resources Company Profile
Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.
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