Bank of New York Mellon Corp Reduces Position in Pioneer Natural Resources (PXD)

Bank of New York Mellon Corp decreased its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,360,043 shares of the oil and gas development company’s stock after selling 185,837 shares during the quarter. Bank of New York Mellon Corp owned about 1.39% of Pioneer Natural Resources worth $446,615,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PXD. FMR LLC boosted its position in shares of 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 acquiring an additional 1,401,626 shares during the last quarter. BlackRock Inc. boosted its position in shares of 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 acquiring an additional 1,032,381 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Pioneer Natural Resources by 892.8% during the second quarter. Bessemer Group Inc. now owns 844,901 shares of the oil and gas development company’s stock worth $159,889,000 after acquiring an additional 759,801 shares during the last quarter. PointState Capital LP bought a new position in shares of Pioneer Natural Resources during the second quarter worth $83,764,000. Finally, Morgan Stanley boosted its position in shares of Pioneer Natural Resources by 39.3% during the second quarter. Morgan Stanley now owns 961,513 shares of the oil and gas development company’s stock worth $181,958,000 after acquiring an additional 271,144 shares during the last quarter. Hedge funds and other institutional investors own 88.87% of the company’s stock.

A number of brokerages recently weighed in on PXD. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a research report on Tuesday, July 31st. Seaport Global Securities restated a “buy” rating on shares of Pioneer Natural Resources in a research report on Wednesday, July 25th. TheStreet lowered shares of Pioneer Natural Resources from a “b-” rating to a “c+” rating in a research report on Tuesday, August 7th. Imperial Capital dropped their target price on shares of Pioneer Natural Resources from $232.00 to $222.00 and set an “outperform” rating for the company in a research report on Thursday, August 9th. Finally, Williams Capital restated a “hold” rating and set a $226.00 target price on shares of Pioneer Natural Resources in a research report on Tuesday, July 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Pioneer Natural Resources presently has an average rating of “Buy” and a consensus price target of $233.93.

PXD stock opened at $143.08 on Tuesday. Pioneer Natural Resources has a 52 week low of $140.54 and a 52 week high of $213.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 0.98. The firm has a market cap of $25.50 billion, a price-to-earnings ratio of 66.24, a price-to-earnings-growth ratio of 1.60 and a beta of 0.95.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Tuesday, August 7th. The oil and gas development company reported $1.41 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $2.27 billion. Research analysts anticipate that Pioneer Natural Resources will post 6.93 EPS for the current fiscal year.

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

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.

Featured Story: Conference Calls and Individual Investors

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