Pioneer Natural Resources Company (NYSE:PXD) Stake Cut by Capital One National Association
Capital One National Association lowered its stake in Pioneer Natural Resources Company (NYSE:PXD) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,184 shares of the oil and gas development company’s stock after selling 496 shares during the period. Capital One National Association’s holdings in Pioneer Natural Resources were worth $668,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hellman Jordan Management Co. Inc. MA purchased a new position in Pioneer Natural Resources during the second quarter valued at about $588,000. Fox Run Management L.L.C. bought a new position in Pioneer Natural Resources during the second quarter worth $798,000. Independence Advisors LLC bought a new position in Pioneer Natural Resources during the second quarter worth $822,000. Trust Co increased its position in Pioneer Natural Resources by 13.1% in the first quarter. Trust Co now owns 1,550 shares of the oil and gas development company’s stock worth $289,000 after buying an additional 180 shares during the period. Finally, Xact Kapitalforvaltning AB increased its position in Pioneer Natural Resources by 8.9% in the second quarter. Xact Kapitalforvaltning AB now owns 14,080 shares of the oil and gas development company’s stock worth $2,247,000 after buying an additional 1,154 shares during the period. 92.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pioneer Natural Resources Company (NYSE PXD) traded up 4.43% during trading on Tuesday, hitting $135.38. The stock had a trading volume of 5,585,519 shares. The company has a market capitalization of $23.03 billion, a P/E ratio of 136.61 and a beta of 0.91. Pioneer Natural Resources Company has a 1-year low of $129.25 and a 1-year high of $199.83. The firm has a 50-day moving average of $157.86 and a 200 day moving average of $174.43.
Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.11 by $0.10. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. The firm’s revenue for the quarter was up 107.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) earnings per share. Equities research analysts predict that Pioneer Natural Resources Company will post $1.13 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on PXD. Barclays PLC set a $136.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Friday. Royal Bank Of Canada reissued a “buy” rating on shares of Pioneer Natural Resources in a research note on Friday. Capital One Financial Corporation reissued an “overweight” rating on shares of Pioneer Natural Resources in a research note on Wednesday, August 2nd. Williams Capital set a $184.00 price target on Pioneer Natural Resources and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, Wells Fargo & Company downgraded Pioneer Natural Resources from an “outperform” rating to a “market perform” rating and cut their price target for the company from $190.00 to $160.00 in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $214.19.
In other Pioneer Natural Resources news, EVP Chris J. Cheatwood sold 5,749 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $173.79, for a total value of $999,118.71. Following the completion of the sale, the executive vice president now directly owns 45,110 shares of the company’s stock, valued at approximately $7,839,666.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.92% of the company’s stock.
About Pioneer Natural Resources
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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