Reliant Investment Management LLC lessened its position in Pioneer Natural Resources (NYSE:PXD) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,390 shares of the oil and gas development company’s stock after selling 795 shares during the period. Pioneer Natural Resources comprises 2.8% of Reliant Investment Management LLC’s portfolio, making the stock its 22nd largest holding. Reliant Investment Management LLC’s holdings in Pioneer Natural Resources were worth $2,813,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of PXD. Lindbrook Capital LLC bought a new position in shares of Pioneer Natural Resources in the fourth quarter worth approximately $31,000. JOYN Advisors Inc. lifted its stake in shares of Pioneer Natural Resources by 73.8% in the fourth quarter. JOYN Advisors Inc. now owns 358 shares of the oil and gas development company’s stock worth $47,000 after buying an additional 152 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Pioneer Natural Resources by 72.0% in the fourth quarter. Captrust Financial Advisors now owns 363 shares of the oil and gas development company’s stock worth $48,000 after buying an additional 152 shares in the last quarter. We Are One Seven LLC bought a new position in shares of Pioneer Natural Resources in the fourth quarter worth approximately $58,000. Finally, Parallel Advisors LLC lifted its stake in shares of Pioneer Natural Resources by 56.0% in the fourth quarter. Parallel Advisors LLC now owns 563 shares of the oil and gas development company’s stock worth $74,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.
A number of brokerages have recently issued reports on PXD. ValuEngine cut shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Monday, November 26th. Mizuho set a $206.00 price objective on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Wednesday, November 28th. SunTrust Banks reissued a “buy” rating and issued a $215.00 price objective on shares of Pioneer Natural Resources in a research note on Thursday, November 29th. Cowen began coverage on shares of Pioneer Natural Resources in a research note on Thursday, November 29th. They issued an “outperform” rating and a $230.00 price objective for the company. Finally, MKM Partners began coverage on shares of Pioneer Natural Resources in a research note on Wednesday, December 5th. They issued a “buy” rating and a $213.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $213.41.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Wednesday, February 13th. The oil and gas development company reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.30). The firm 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%. Pioneer Natural Resources’s revenue was up 75.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. As a group, analysts anticipate that Pioneer Natural Resources will post 7.51 EPS for the current year.
The company also recently announced a semiannual dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be issued a $0.32 dividend. This represents a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.16. Pioneer Natural Resources’s dividend payout ratio (DPR) is 5.07%.
Pioneer Natural Resources announced that its board has initiated a stock buyback program on Thursday, December 13th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the oil and gas development company to buy up to 8.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, Director Andrew F. Cates bought 790 shares of the stock in a transaction dated Thursday, December 27th. The stock was purchased at an average price of $124.27 per share, for a total transaction of $98,173.30. Following the acquisition, the director now owns 13,370 shares of the company’s stock, valued at $1,661,489.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.92% of the stock is currently owned by company insiders.
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Pioneer Natural Resources Profile
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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