Navellier & Associates Inc Trims Position in Pioneer Natural Resources Company (PXD)
Navellier & Associates Inc decreased its holdings in Pioneer Natural Resources Company (NYSE:PXD) by 39.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,301 shares of the oil and gas development company’s stock after selling 11,797 shares during the quarter. Navellier & Associates Inc’s holdings in Pioneer Natural Resources were worth $2,920,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in PXD. GWM Advisors LLC purchased a new stake in Pioneer Natural Resources in the 2nd quarter valued at $100,000. Commonwealth Bank of Australia raised its position in Pioneer Natural Resources by 10.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 690 shares of the oil and gas development company’s stock valued at $108,000 after purchasing an additional 67 shares during the last quarter. BDO Wealth Advisors LLC purchased a new stake in Pioneer Natural Resources in the 2nd quarter valued at $120,000. Oppenheimer Asset Management Inc. purchased a new stake in Pioneer Natural Resources in the 1st quarter valued at $172,000. Finally, WFG Advisors LP raised its position in Pioneer Natural Resources by 10.2% in the 2nd quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock valued at $176,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 91.46% of the company’s stock.
Pioneer Natural Resources Company (NYSE PXD) traded down 0.26% during midday trading on Monday, hitting $143.55. 770,804 shares of the company traded hands. Pioneer Natural Resources Company has a 12-month low of $125.46 and a 12-month high of $199.83. The stock has a 50 day moving average of $140.52 and a 200 day moving average of $157.21. The stock has a market cap of $24.42 billion, a P/E ratio of 144.85 and a beta of 0.94.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.06 billion. Pioneer Natural Resources had a return on equity of 1.79% and a net margin of 3.10%. Pioneer Natural Resources’s revenue was up 107.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) earnings per share. Equities research analysts predict that Pioneer Natural Resources Company will post $1.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Friday, September 29th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Thursday, September 28th. Pioneer Natural Resources’s payout ratio is currently 8.16%.
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Several research firms recently commented on PXD. Wolfe Research downgraded shares of Pioneer Natural Resources from an “outperform” rating to a “market perform” rating in a research report on Monday. Scotiabank set a $210.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Saturday, July 1st. Barclays PLC boosted their price objective on shares of Pioneer Natural Resources from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada set a $201.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Sunday. Finally, BMO Capital Markets set a $214.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $198.47.
In related news, Director Andrew F. Cates purchased 350 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased 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 approximately $1,970,445.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Teresa A. Fairbrook sold 880 shares of Pioneer Natural Resources stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $130.49, for a total value of $114,831.20. Following the completion of the transaction, the vice president now directly owns 7,648 shares in the company, valued at approximately $997,987.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 1,200 shares of company stock worth $161,102. 0.89% of the stock is owned by corporate insiders.
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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