Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Pioneer Natural Resources (NYSE:PXD) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,025 shares of the oil and gas development company’s stock, valued at approximately $1,055,000.
Several other hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its stake in Pioneer Natural Resources by 31.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 30,835 shares of the oil and gas development company’s stock valued at $5,370,000 after buying an additional 7,361 shares during the period. Private Advisor Group LLC increased its stake in Pioneer Natural Resources by 66.3% in the 3rd quarter. Private Advisor Group LLC now owns 3,943 shares of the oil and gas development company’s stock valued at $687,000 after buying an additional 1,572 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Pioneer Natural Resources by 47.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,648 shares of the oil and gas development company’s stock valued at $1,158,000 after buying an additional 2,149 shares during the period. WINTON GROUP Ltd increased its stake in Pioneer Natural Resources by 32.6% in the 3rd quarter. WINTON GROUP Ltd now owns 3,590 shares of the oil and gas development company’s stock valued at $625,000 after buying an additional 882 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in Pioneer Natural Resources by 20.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 10,701 shares of the oil and gas development company’s stock valued at $1,864,000 after buying an additional 1,840 shares during the period. Institutional investors own 87.26% of the company’s stock.
PXD stock opened at $135.67 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $22.84 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 1.78 and a beta of 0.98. Pioneer Natural Resources has a 12 month low of $119.08 and a 12 month high of $213.40.
Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Wednesday, February 13th. The oil and gas development company reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.30). The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.31 billion. Pioneer Natural Resources had a return on equity of 9.25% and a net margin of 10.40%. The business’s revenue was up 75.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. On average, equities research analysts predict that Pioneer Natural Resources will post 7.4 EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be issued a dividend of $0.32 per share. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.16. This represents a dividend yield of 0.45%. The ex-dividend date is Thursday, March 28th. Pioneer Natural Resources’s dividend payout ratio is currently 5.07%.
Pioneer Natural Resources announced that its board has initiated a stock buyback program on Thursday, December 13th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the oil and gas development company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Several research analysts have weighed in on PXD shares. KeyCorp started coverage on shares of Pioneer Natural Resources in a research note on Thursday, December 20th. They issued an “overweight” rating and a $170.00 price objective on the stock. Mizuho set a $206.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Wednesday, November 28th. Imperial Capital set a $198.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Friday, February 8th. Wells Fargo & Co upgraded shares of Pioneer Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 11th. Finally, Raymond James set a $250.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Pioneer Natural Resources currently has an average rating of “Buy” and a consensus price target of $215.07.
In related news, CEO Timothy L. Dove sold 4,800 shares of the company’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $134.18, for a total transaction of $644,064.00. Following the completion of the sale, the chief executive officer now directly owns 276,901 shares of the company’s stock, valued at approximately $37,154,576.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew F. Cates acquired 790 shares of the firm’s stock in a transaction that occurred on Thursday, December 27th. The shares were purchased at an average cost of $124.27 per share, with a total value of $98,173.30. Following the completion of the acquisition, the director now owns 13,370 shares in the company, valued at approximately $1,661,489.90. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by corporate insiders.
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About Pioneer Natural Resources
Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has 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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