Westfield Capital Management Co. LP Reduces Stake in Pioneer Natural Resources (NYSE:PXD)

Westfield Capital Management Co. LP decreased its holdings in Pioneer Natural Resources (NYSE:PXD) by 5.2% during the first quarter, HoldingsChannel.com reports. The firm owned 496,846 shares of the oil and gas development company’s stock after selling 27,191 shares during the period. Westfield Capital Management Co. LP’s holdings in Pioneer Natural Resources were worth $75,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PXD. Motco increased its holdings in shares of Pioneer Natural Resources by 2,542.9% in the 1st quarter. Motco now owns 185 shares of the oil and gas development company’s stock valued at $28,000 after purchasing an additional 178 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Pioneer Natural Resources by 224.6% in the 1st quarter. Global Retirement Partners LLC now owns 198 shares of the oil and gas development company’s stock valued at $30,000 after purchasing an additional 137 shares during the period. Lindbrook Capital LLC acquired a new position in shares of Pioneer Natural Resources in the 4th quarter valued at about $31,000. Executive Wealth Management LLC acquired a new position in shares of Pioneer Natural Resources in the 4th quarter valued at about $38,000. Finally, Canton Hathaway LLC acquired a new position in shares of Pioneer Natural Resources in the 1st quarter valued at about $38,000. Institutional investors own 87.98% of the company’s stock.

PXD has been the topic of a number of research reports. Credit Suisse Group dropped their target price on Pioneer Natural Resources from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, February 14th. They noted that the move was a valuation call. TD Securities downgraded Pioneer Natural Resources from a “buy” rating to a “hold” rating and dropped their target price for the company from $185.00 to $165.00 in a report on Friday, February 15th. Mitsubishi UFJ Financial Group dropped their target price on Pioneer Natural Resources to $192.00 and set an “overweight” rating on the stock in a report on Friday, February 15th. B. Riley set a $165.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a report on Friday, February 15th. Finally, MKM Partners set a $189.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a report on Friday, February 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $205.51.

Pioneer Natural Resources stock traded up $1.08 during trading hours on Thursday, reaching $142.40. 26,318 shares of the company were exchanged, compared to its average volume of 1,574,048. The stock has a market capitalization of $24.61 billion, a P/E ratio of 22.56, a PEG ratio of 0.88 and a beta of 1.09. The company has a quick ratio of 0.89, a current ratio of 0.99 and a debt-to-equity ratio of 0.17. Pioneer Natural Resources has a 12 month low of $119.08 and a 12 month high of $195.00.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Monday, May 6th. The oil and gas development company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Pioneer Natural Resources had a return on equity of 9.31% and a net margin of 11.89%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Sell-side analysts anticipate that Pioneer Natural Resources will post 9.12 earnings per share for the current year.

In other Pioneer Natural Resources news, CAO Margaret Montemayor sold 888 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $153.38, for a total transaction of $136,201.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.91% of the stock is owned by corporate insiders.

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Pioneer Natural Resources 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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