Municipal Employees Retirement System of Michigan cut its stake in shares of Pioneer Natural Resources Company (NYSE:PXD) by 19.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,390 shares of the oil and gas development company’s stock after selling 1,090 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Pioneer Natural Resources were worth $648,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. GWM Advisors LLC acquired a new stake in shares of Pioneer Natural Resources in the second quarter valued at approximately $100,000. Commonwealth Bank of Australia raised its position in shares of Pioneer Natural Resources by 10.8% in the second quarter. Commonwealth Bank of Australia now owns 690 shares of the oil and gas development company’s stock valued at $108,000 after buying an additional 67 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Pioneer Natural Resources in the second quarter valued at approximately $120,000. WFG Advisors LP raised its position in shares of Pioneer Natural Resources by 10.2% in the second quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock valued at $176,000 after buying an additional 102 shares in the last quarter. Finally, Grove Bank & Trust raised its position in shares of Pioneer Natural Resources by 112.3% in the second quarter. Grove Bank & Trust now owns 1,172 shares of the oil and gas development company’s stock valued at $187,000 after buying an additional 620 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Pioneer Natural Resources Company (NYSE:PXD) traded up $1.12 during midday trading on Friday, hitting $157.16. 1,634,998 shares of the company’s stock were exchanged, compared to its average volume of 1,466,724. The company has a market capitalization of $26,552.59, a PE ratio of 109.12, a PEG ratio of 9.97 and a beta of 0.97. Pioneer Natural Resources Company has a 12-month low of $125.46 and a 12-month high of $199.83. The company has a current ratio of 1.69, a quick ratio of 1.58 and a debt-to-equity ratio of 0.22.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Wednesday, November 1st. The oil and gas development company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Pioneer Natural Resources had a net margin of 2.17% and a return on equity of 2.34%. The company’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. analysts expect that Pioneer Natural Resources Company will post 1.53 EPS for the current year.

In other Pioneer Natural Resources news, CEO Timothy L. Dove sold 5,560 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $160.66, for a total transaction of $893,269.60. Following the sale, the chief executive officer now owns 260,083 shares of the company’s stock, valued at $41,784,934.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jerome D. Hall, Jr. sold 1,800 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $155.23, for a total transaction of $279,414.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,490 shares of company stock worth $2,926,897. Insiders own 0.89% of the company’s stock.

A number of research firms have recently weighed in on PXD. Stifel Nicolaus set a $236.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Tuesday, August 8th. 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 report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Mizuho set a $190.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Saturday, November 25th. Finally, KeyCorp set a $180.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Saturday, November 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $194.20.

ILLEGAL ACTIVITY WARNING: “Municipal Employees Retirement System of Michigan Cuts Holdings in Pioneer Natural Resources Company (PXD)” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/12/02/municipal-employees-retirement-system-of-michigan-cuts-holdings-in-pioneer-natural-resources-company-pxd.html.

Pioneer Natural Resources Profile

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.

Want to see what other hedge funds are holding PXD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pioneer Natural Resources Company (NYSE:PXD).

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

Receive News & Stock Ratings for Pioneer Natural Resources Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Natural Resources Company and related stocks with our FREE daily email newsletter.