146,023 Shares in Pioneer Natural Resources (PXD) Acquired by Anchor Bolt Capital LP

Anchor Bolt Capital LP acquired a new stake in shares of Pioneer Natural Resources (NYSE:PXD) during the 4th quarter, HoldingsChannel reports. The firm acquired 146,023 shares of the oil and gas development company’s stock, valued at approximately $19,205,000. Pioneer Natural Resources accounts for 1.3% of Anchor Bolt Capital LP’s holdings, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Utah Retirement Systems raised its holdings in shares of Pioneer Natural Resources by 0.3% during the fourth quarter. Utah Retirement Systems now owns 31,575 shares of the oil and gas development company’s stock valued at $4,153,000 after purchasing an additional 100 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Pioneer Natural Resources by 6.2% during the fourth quarter. Raymond James Trust N.A. now owns 2,131 shares of the oil and gas development company’s stock valued at $280,000 after purchasing an additional 124 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Pioneer Natural Resources by 1.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,774 shares of the oil and gas development company’s stock valued at $891,000 after purchasing an additional 126 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Pioneer Natural Resources by 23.2% during the fourth quarter. Quadrant Capital Group LLC now owns 722 shares of the oil and gas development company’s stock valued at $86,000 after purchasing an additional 136 shares during the period. Finally, JOYN Advisors Inc. raised its holdings in shares of Pioneer Natural Resources by 73.8% during the fourth quarter. JOYN Advisors Inc. now owns 358 shares of the oil and gas development company’s stock valued at $47,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s stock.

In other Pioneer Natural Resources news, CEO Timothy L. Dove sold 4,800 shares of the company’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $134.18, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew F. Cates acquired 790 shares of Pioneer Natural Resources stock in a transaction on Thursday, December 27th. The stock was purchased at an average cost of $124.27 per share, with a total value of $98,173.30. Following the completion of the transaction, the director now directly owns 13,370 shares in the company, valued at approximately $1,661,489.90. The disclosure for this purchase can be found here. Corporate insiders own 0.92% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. ValuEngine upgraded shares of Pioneer Natural Resources from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Wells Fargo & Co upped their target price on shares of Pioneer Natural Resources from $191.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday. Imperial Capital set a $198.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a report on Friday, February 8th. Finally, Credit Suisse Group lowered their target price on shares of Pioneer Natural Resources from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, February 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $215.07.

Shares of PXD stock opened at $136.37 on Friday. Pioneer Natural Resources has a 52-week low of $119.08 and a 52-week high of $213.40. 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 stock has a market capitalization of $22.73 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.78 and a beta of 0.98.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Wednesday, February 13th. The oil and gas development company reported $1.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($0.30). Pioneer Natural Resources had a return on equity of 9.25% and a net margin of 10.40%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The company’s revenue for the quarter was up 75.4% on a year-over-year basis. On average, equities analysts expect that Pioneer Natural Resources will post 7.4 EPS for the current year.

Pioneer Natural Resources announced that its Board of Directors has initiated a share 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 purchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a semiannual dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be given a $0.32 dividend. This represents a yield of 0.45%. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.16. The ex-dividend date of this dividend is Thursday, March 28th. Pioneer Natural Resources’s dividend payout ratio is presently 5.07%.

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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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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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