Adams Natural Resources Fund Inc. Sells 43,800 Shares of Pioneer Natural Resources (PXD)

Adams Natural Resources Fund Inc. decreased its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 47.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,300 shares of the oil and gas development company’s stock after selling 43,800 shares during the period. Pioneer Natural Resources accounts for 1.3% of Adams Natural Resources Fund Inc.’s investment portfolio, making the stock its 19th biggest position. Adams Natural Resources Fund Inc.’s holdings in Pioneer Natural Resources were worth $8,588,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Pioneer Natural Resources by 9.1% during the second quarter. BlackRock Inc. now owns 12,425,606 shares of the oil and gas development company’s stock worth $2,351,423,000 after buying an additional 1,032,381 shares in the last quarter. FMR LLC increased its position in Pioneer Natural Resources by 27.9% during the second quarter. FMR LLC now owns 6,431,051 shares of the oil and gas development company’s stock worth $1,217,012,000 after buying an additional 1,401,626 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Pioneer Natural Resources by 5.0% during the second quarter. Artisan Partners Limited Partnership now owns 2,363,653 shares of the oil and gas development company’s stock worth $447,298,000 after buying an additional 113,443 shares in the last quarter. Northern Trust Corp increased its position in Pioneer Natural Resources by 0.3% during the second quarter. Northern Trust Corp now owns 2,007,607 shares of the oil and gas development company’s stock worth $379,919,000 after buying an additional 5,666 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Pioneer Natural Resources by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,514,423 shares of the oil and gas development company’s stock valued at $263,797,000 after purchasing an additional 8,115 shares during the period. 88.87% of the stock is owned by institutional investors.

PXD stock opened at $143.08 on Tuesday. Pioneer Natural Resources has a 12-month low of $140.54 and a 12-month high of $213.40. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. The stock has a market cap of $25.50 billion, a price-to-earnings ratio of 66.24, a PEG ratio of 1.60 and a beta of 0.95.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, August 7th. The oil and gas development company reported $1.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.08). Pioneer Natural Resources had a net margin of 12.23% and a return on equity of 7.29%. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.27 billion. On average, research analysts anticipate that Pioneer Natural Resources will post 6.93 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Thursday, September 27th. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.04. Pioneer Natural Resources’s payout ratio is 14.81%.

A number of equities research analysts have recently commented on the company. Williams Capital reaffirmed a “hold” rating and issued a $225.00 price objective on shares of Pioneer Natural Resources in a research report on Tuesday, August 21st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Pioneer Natural Resources in a research report on Friday, July 13th. Oppenheimer assumed coverage on Pioneer Natural Resources in a research report on Wednesday, October 3rd. They issued a “market perform” rating for the company. Seaport Global Securities downgraded Pioneer Natural Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $230.00 to $210.00 in a research report on Wednesday, October 10th. Finally, Robert W. Baird set a $225.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Friday, July 27th. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Pioneer Natural Resources has an average rating of “Buy” and a consensus price target of $233.93.

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.

Read More: Average Daily Trade Volume – ADTV

Want to see what other hedge funds are holding PXD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pioneer Natural Resources (NYSE:PXD).

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

Receive News & Ratings for Pioneer Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply