Reinhart Partners Inc. acquired a new position in Pioneer Natural Resources (NYSE:PXD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 194,872 shares of the oil and gas development company’s stock, valued at approximately $24,509,000. Pioneer Natural Resources makes up about 2.3% of Reinhart Partners Inc.’s holdings, making the stock its 16th largest holding. Reinhart Partners Inc. owned about 0.12% of Pioneer Natural Resources as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Berman Capital Advisors LLC raised its holdings in Pioneer Natural Resources by 64.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the oil and gas development company’s stock valued at $34,000 after acquiring an additional 87 shares during the last quarter. Parallax Volatility Advisers L.P. boosted its stake in shares of Pioneer Natural Resources by 1,606.7% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 256 shares of the oil and gas development company’s stock valued at $39,000 after purchasing an additional 241 shares in the last quarter. HM Payson & Co. bought a new position in shares of Pioneer Natural Resources in the second quarter valued at about $53,000. Venturi Wealth Management LLC bought a new position in shares of Pioneer Natural Resources in the third quarter valued at about $53,000. Finally, Foresters Asset Management Inc. raised its holdings in shares of Pioneer Natural Resources by 35.7% in the second quarter. Foresters Asset Management Inc. now owns 380 shares of the oil and gas development company’s stock valued at $58,000 after buying an additional 100 shares during the last quarter. 87.26% of the stock is owned by institutional investors.
Shares of PXD stock traded down $1.58 on Friday, reaching $134.99. The company had a trading volume of 1,085,631 shares, compared to its average volume of 1,767,316. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 0.17. The stock has a market cap of $22.71 billion, a PE ratio of 21.39, a PEG ratio of 1.00 and a beta of 1.14. The company has a 50-day moving average of $128.54 and a 200-day moving average of $138.37. Pioneer Natural Resources has a 12 month low of $114.79 and a 12 month high of $178.22.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Monday, November 4th. The oil and gas development company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.03). The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.32 billion. Pioneer Natural Resources had a net margin of 7.88% and a return on equity of 9.86%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $2.07 earnings per share. Sell-side analysts anticipate that Pioneer Natural Resources will post 8.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.30%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 13.95%.
In other Pioneer Natural Resources news, Director J Kenneth Thompson acquired 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average cost of $121.01 per share, for a total transaction of $60,505.00. Following the transaction, the director now owns 13,024 shares of the company’s stock, valued at $1,576,034.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris J. Cheatwood sold 5,619 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $140.35, for a total value of $788,626.65. Following the completion of the transaction, the executive vice president now owns 39,027 shares of the company’s stock, valued at $5,477,439.45. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.
A number of research analysts recently issued reports on the company. TheStreet cut Pioneer Natural Resources from a “b-” rating to a “c+” rating in a report on Tuesday, July 23rd. Mizuho raised Pioneer Natural Resources from a “neutral” rating to a “buy” rating and set a $191.00 price target for the company in a report on Thursday, October 10th. Wells Fargo & Co lifted their price target on Pioneer Natural Resources from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Robert W. Baird boosted their price objective on Pioneer Natural Resources from $142.00 to $157.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Citigroup reissued a “buy” rating on shares of Pioneer Natural Resources in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $186.97.
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.
Further Reading: Diluted Earnings Per Share
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