Summit Global Investments raised its stake in Pioneer Natural Resources Company (NYSE:PXD) by 83.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,178 shares of the oil and gas development company’s stock after acquiring an additional 4,173 shares during the quarter. Summit Global Investments’ holdings in Pioneer Natural Resources were worth $1,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PXD. Moody Lynn & Lieberson LLC raised its holdings in shares of Pioneer Natural Resources by 52.6% in the first quarter. Moody Lynn & Lieberson LLC now owns 21,666 shares of the oil and gas development company’s stock worth $4,035,000 after acquiring an additional 7,466 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Pioneer Natural Resources by 21.3% in the first quarter. Daiwa Securities Group Inc. now owns 29,230 shares of the oil and gas development company’s stock worth $5,443,000 after acquiring an additional 5,140 shares during the last quarter. Tower Bridge Advisors raised its holdings in shares of Pioneer Natural Resources by 1.8% in the first quarter. Tower Bridge Advisors now owns 3,940 shares of the oil and gas development company’s stock worth $734,000 after acquiring an additional 70 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Pioneer Natural Resources by 6.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,546 shares of the oil and gas development company’s stock worth $288,000 after acquiring an additional 87 shares during the last quarter. Finally, Capital Fund Management S.A. raised its holdings in shares of Pioneer Natural Resources by 5,489.1% in the first quarter. Capital Fund Management S.A. now owns 273,867 shares of the oil and gas development company’s stock worth $51,002,000 after acquiring an additional 268,967 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

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In other Pioneer Natural Resources news, Director J Kenneth Thompson purchased 750 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was purchased at an average price of $133.40 per share, for a total transaction of $100,050.00. Following the completion of the purchase, the director now directly owns 10,865 shares in the company, valued at $1,449,391. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew F. Cates purchased 350 shares of the business’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $135.37 per share, with a total value of $47,379.50. Following the purchase, the director now owns 14,556 shares of the company’s stock, valued at $1,970,445.72. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,200 shares of company stock valued at $161,102. Corporate insiders own 0.89% of the company’s stock.

A number of brokerages have recently commented on PXD. Scotiabank set a $210.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Saturday, July 1st. Royal Bank Of Canada set a $233.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC set a $243.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Wednesday, May 17th. Stifel Nicolaus set a $236.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Tuesday, August 8th. Finally, Zacks Investment Research downgraded Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $204.40.

Shares of Pioneer Natural Resources Company (PXD) traded up 1.04% during mid-day trading on Monday, reaching $129.83. The company’s stock had a trading volume of 429,138 shares. The company has a 50 day moving average price of $138.23 and a 200 day moving average price of $164.74. The stock has a market capitalization of $22.08 billion, a P/E ratio of 131.01 and a beta of 0.94. Pioneer Natural Resources Company has a 12 month low of $125.46 and a 12 month high of $199.83.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.10. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company earned ($0.22) earnings per share. The firm’s revenue was up 107.4% on a year-over-year basis. On average, equities research analysts anticipate that Pioneer Natural Resources Company will post $1.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, September 28th. Pioneer Natural Resources’s dividend payout ratio is 8.16%.

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.

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

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