Fairfield Bush & CO. purchased a new stake in shares of Pioneer Natural Resources (NYSE:PXD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,600 shares of the oil and gas development company’s stock, valued at approximately $277,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PXD. Captrust Financial Advisors bought a new position in Pioneer Natural Resources during the 4th quarter valued at approximately $104,000. Pin Oak Investment Advisors Inc. bought a new position in Pioneer Natural Resources during the 4th quarter valued at approximately $129,000. Banco de Sabadell S.A bought a new position in Pioneer Natural Resources during the 4th quarter valued at approximately $147,000. Steward Partners Investment Advisory LLC bought a new position in Pioneer Natural Resources during the 3rd quarter valued at approximately $176,000. Finally, Savant Capital LLC bought a new position in Pioneer Natural Resources during the 4th quarter valued at approximately $208,000. 89.36% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have commented on PXD shares. Mizuho set a $190.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Saturday, November 25th. KeyCorp set a $180.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research report on Saturday, November 25th. Zacks Investment Research lowered Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, December 4th. Credit Suisse Group started coverage on Pioneer Natural Resources in a research report on Monday, December 11th. They set an “outperform” rating and a $192.00 price target for the company. Finally, Robert W. Baird lowered their price target on Pioneer Natural Resources from $192.00 to $176.00 and set an “outperform” rating for the company in a research report on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-six have assigned a buy rating to the company. Pioneer Natural Resources currently has a consensus rating of “Buy” and a consensus price target of $211.33.
In related news, SVP Mark H. Kleinman sold 1,150 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $180.17, for a total value of $207,195.50. Following the transaction, the senior vice president now directly owns 13,327 shares of the company’s stock, valued at approximately $2,401,125.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Teresa A. Fairbrook sold 2,134 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $180.00, for a total value of $384,120.00. Following the completion of the transaction, the vice president now directly owns 10,284 shares in the company, valued at $1,851,120. The disclosure for this sale can be found here. Insiders sold a total of 20,007 shares of company stock worth $3,530,333 in the last 90 days. 0.89% of the stock is currently owned by company insiders.
Shares of PXD stock opened at $172.47 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.31. The firm has a market capitalization of $29,865.65, a P/E ratio of 35.56, a P/E/G ratio of 2.61 and a beta of 0.96. Pioneer Natural Resources has a 52 week low of $125.46 and a 52 week high of $192.93.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly 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. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.39 billion. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The firm’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. analysts forecast that Pioneer Natural Resources will post 6.22 earnings per share for the current fiscal year.
The business also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a dividend yield of 0.18%. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.04. Pioneer Natural Resources’s dividend payout ratio is presently 1.65%.
Pioneer Natural Resources declared that its board has initiated a stock repurchase plan on Tuesday, February 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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