DnB Asset Management AS lowered its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 503,751 shares of the oil and gas development company’s stock after selling 23,100 shares during the quarter. Pioneer Natural Resources comprises approximately 1.0% of DnB Asset Management AS’s holdings, making the stock its 23rd largest holding. DnB Asset Management AS’s holdings in Pioneer Natural Resources were worth $87,073,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in PXD. GWM Advisors LLC bought a new position in Pioneer Natural Resources during the second quarter worth $100,000. Commonwealth Bank of Australia increased its position in Pioneer Natural Resources by 10.8% during the second quarter. Commonwealth Bank of Australia now owns 690 shares of the oil and gas development company’s stock worth $108,000 after acquiring an additional 67 shares during the period. WFG Advisors LP increased its position in Pioneer Natural Resources by 10.2% during the second quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock worth $176,000 after acquiring an additional 102 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Pioneer Natural Resources during the third quarter worth $176,000. Finally, Sun Life Financial INC increased its position in Pioneer Natural Resources by 7,229.4% during the second quarter. Sun Life Financial INC now owns 1,246 shares of the oil and gas development company’s stock worth $199,000 after acquiring an additional 1,229 shares during the period. 90.69% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Scott D. Sheffield sold 5,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $161.14, for a total value of $805,700.00. Following the sale, the chairman now owns 585,466 shares in the company, valued at approximately $94,341,991.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth H. Sheffield, Jr. sold 3,250 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $157.57, for a total transaction of $512,102.50. The disclosure for this sale can be found here. Insiders sold a total of 42,916 shares of company stock worth $6,976,992 in the last 90 days. 0.89% of the stock is owned by corporate insiders.
Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Wednesday, November 1st. The oil and gas development company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.18. Pioneer Natural Resources had a negative net margin of 1.46% and a negative return on equity of 0.87%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company earned $0.13 EPS. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. equities research analysts forecast that Pioneer Natural Resources will post 1.61 earnings per share for the current fiscal year.
PXD has been the topic of a number of research reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $207.00 target price on shares of Pioneer Natural Resources in a research report on Tuesday. ValuEngine lowered shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. JPMorgan Chase & Co. set a $185.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada set a $201.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Sunday, October 15th. Finally, Zacks Investment Research lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company. Pioneer Natural Resources has an average rating of “Buy” and an average target price of $192.84.
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Pioneer Natural Resources Company 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.
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