Financial Counselors Inc. increased its position in shares of Pioneer Natural Resources Company (NYSE:PXD) by 80.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,862 shares of the oil and gas development company’s stock after buying an additional 2,170 shares during the quarter. Financial Counselors Inc.’s holdings in Pioneer Natural Resources were worth $776,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Independence Advisors LLC purchased a new stake in Pioneer Natural Resources in the second quarter valued at approximately $822,000. Murphy Capital Management Inc. grew its stake in shares of Pioneer Natural Resources by 4.5% in the second quarter. Murphy Capital Management Inc. now owns 115,080 shares of the oil and gas development company’s stock worth $18,364,000 after acquiring an additional 4,980 shares in the last quarter. BlackRock Inc. grew its stake in shares of Pioneer Natural Resources by 2,397.3% in the first quarter. BlackRock Inc. now owns 11,376,848 shares of the oil and gas development company’s stock worth $2,118,708,000 after acquiring an additional 10,921,279 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Pioneer Natural Resources in the first quarter worth $260,000. Finally, State of Tennessee Treasury Department grew its stake in shares of Pioneer Natural Resources by 66.4% in the second quarter. State of Tennessee Treasury Department now owns 191,154 shares of the oil and gas development company’s stock worth $30,504,000 after acquiring an additional 76,268 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on PXD. Scotiabank set a $210.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Saturday, July 1st. Royal Bank Of Canada set a $233.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Saturday, June 17th. Jefferies Group LLC set a $243.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Stifel Nicolaus set a $236.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research downgraded shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $204.40.
Pioneer Natural Resources Company (NYSE:PXD) opened at 129.92 on Wednesday. Pioneer Natural Resources Company has a one year low of $125.46 and a one year high of $199.83. The firm has a market capitalization of $22.10 billion, a price-to-earnings ratio of 131.10 and a beta of 0.94. The firm’s 50-day moving average is $137.98 and its 200 day moving average is $164.34.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.06 billion. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. The business’s revenue for the quarter was up 107.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.22) EPS. Analysts forecast that Pioneer Natural Resources Company will post $1.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Thursday, September 28th. Pioneer Natural Resources’s payout ratio is 8.16%.
In other news, Director J Kenneth Thompson bought 750 shares of the stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average price of $133.40 per share, with a total value of $100,050.00. Following the acquisition, the director now owns 10,865 shares in the company, valued at $1,449,391. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew F. Cates bought 350 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $135.37 per share, for a total transaction of $47,379.50. Following the acquisition, the director now owns 14,556 shares in the company, valued at approximately $1,970,445.72. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,200 shares of company stock worth $161,102. 0.89% of the stock is owned by 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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