Empire Life Investments Inc. lifted its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 44.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,564 shares of the oil and gas development company’s stock after purchasing an additional 21,263 shares during the quarter. Empire Life Investments Inc.’s holdings in Pioneer Natural Resources were worth $12,024,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Pioneer Natural Resources by 11.4% during the 4th quarter. BlackRock Inc. now owns 13,552,443 shares of the oil and gas development company’s stock valued at $2,342,540,000 after acquiring an additional 1,389,479 shares during the period. Boston Partners boosted its holdings in Pioneer Natural Resources by 51.2% during the 4th quarter. Boston Partners now owns 2,262,356 shares of the oil and gas development company’s stock valued at $391,048,000 after acquiring an additional 766,124 shares during the period. Point72 Asset Management L.P. boosted its holdings in Pioneer Natural Resources by 2,357.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 739,763 shares of the oil and gas development company’s stock valued at $109,145,000 after acquiring an additional 709,663 shares during the period. First Eagle Investment Management LLC purchased a new position in Pioneer Natural Resources during the 3rd quarter valued at about $75,317,000. Finally, Bank of New York Mellon Corp boosted its holdings in Pioneer Natural Resources by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,683,875 shares of the oil and gas development company’s stock valued at $463,908,000 after acquiring an additional 329,971 shares during the period. Institutional investors and hedge funds own 89.44% of the company’s stock.
A number of brokerages recently commented on PXD. JPMorgan Chase & Co. set a $185.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a report on Wednesday, January 3rd. National Alliance Securities upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating in a report on Monday, February 12th. Citigroup raised their target price on Pioneer Natural Resources from $215.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Credit Suisse Group began coverage on Pioneer Natural Resources in a report on Monday, December 11th. They set an “outperform” rating and a $192.00 target price for the company. Finally, Imperial Capital raised their target price on Pioneer Natural Resources from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $211.40.
Shares of Pioneer Natural Resources (NYSE:PXD) opened at $171.53 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.41. Pioneer Natural Resources has a 12-month low of $125.46 and a 12-month high of $192.93. The firm has a market capitalization of $29,211.70, a PE ratio of 79.41, a PEG ratio of 2.56 and a beta of 0.96.
Pioneer Natural Resources (NYSE:PXD) last issued 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. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the company earned $0.49 EPS. The business’s quarterly revenue was up 48.4% on a year-over-year basis. research analysts forecast that Pioneer Natural Resources will post 6.2 earnings per share for the current fiscal year.
The firm 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 dividend of $0.16 per share. This represents a dividend yield of 0.18%. The ex-dividend date is Wednesday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio (DPR) is 1.65%.
Pioneer Natural Resources declared that its board has approved a stock repurchase program on Tuesday, February 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas development company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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