146,000 Shares in Pioneer Natural Resources (PXD) Acquired by Encompass Capital Advisors LLC
Encompass Capital Advisors LLC acquired a new stake in Pioneer Natural Resources (NYSE:PXD) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 146,000 shares of the oil and gas development company’s stock, valued at approximately $25,236,000. Pioneer Natural Resources accounts for about 3.6% of Encompass Capital Advisors LLC’s holdings, making the stock its 12th biggest position.
Other large investors have also recently modified their holdings of the company. Guardian Capital Advisors LP bought a new stake in Pioneer Natural Resources in the 4th quarter valued at about $215,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter worth about $176,000. Savant Capital LLC bought a new stake in shares of Pioneer Natural Resources during the 4th quarter worth about $208,000. Cetera Advisors LLC bought a new stake in shares of Pioneer Natural Resources during the 4th quarter worth about $215,000. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Pioneer Natural Resources during the 4th quarter worth about $217,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.
A number of research firms have commented on PXD. UBS Group began coverage on shares of Pioneer Natural Resources in a research report on Wednesday. They set a “buy” rating and a $215.00 price target on the stock. BMO Capital Markets restated a “buy” rating and set a $250.00 price target on shares of Pioneer Natural Resources in a research report on Tuesday, February 27th. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Pioneer Natural Resources in a research report on Wednesday. TheStreet upgraded shares of Pioneer Natural Resources from a “c” rating to a “b” rating in a research report on Tuesday, February 6th. Finally, Jefferies Group restated a “buy” rating and set a $238.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $211.40.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.63. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The firm’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. research analysts expect that Pioneer Natural Resources will post 6.2 earnings per share for the current fiscal year.
The company also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be given a $0.16 dividend. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. This represents a dividend yield of 0.18%. The ex-dividend date is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is 6.72%.
Pioneer Natural Resources declared that its board has authorized a stock repurchase program on Tuesday, February 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, SVP Mark H. Kleinman sold 1,150 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $180.17, for a total value of $207,195.50. Following the transaction, the senior vice president now directly owns 13,327 shares of the company’s stock, valued at $2,401,125.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Larry R. Grillot sold 200 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $159.35, for a total transaction of $31,870.00. Following the completion of the transaction, the director now directly owns 7,097 shares in the company, valued at $1,130,906.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,418 shares of company stock worth $4,993,105. 0.89% of the stock is currently owned by 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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