Oppenheimer Asset Management Inc. boosted its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 3.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,782 shares of the oil and gas development company’s stock after purchasing an additional 673 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Pioneer Natural Resources were worth $1,248,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in PXD. Value Holdings Management CO. LLC bought a new stake in Pioneer Natural Resources in the fourth quarter worth approximately $1,363,000. Heard Capital LLC bought a new stake in Pioneer Natural Resources in the fourth quarter worth approximately $843,000. Bank of New York Mellon Corp grew its position in Pioneer Natural Resources by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,683,669 shares of the oil and gas development company’s stock worth $406,226,000 after acquiring an additional 397,359 shares in the last quarter. AXA grew its position in Pioneer Natural Resources by 6.2% in the fourth quarter. AXA now owns 40,324 shares of the oil and gas development company’s stock worth $6,104,000 after acquiring an additional 2,344 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd grew its position in Pioneer Natural Resources by 569.0% in the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 52,317 shares of the oil and gas development company’s stock worth $3,670,000 after acquiring an additional 44,497 shares in the last quarter. 91.57% of the stock is currently owned by hedge funds and other institutional investors.
PXD has been the subject of several recent research reports. Piper Sandler downgraded shares of Pioneer Natural Resources from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $205.00 to $63.00 in a research report on Tuesday, March 24th. Argus upped their price objective on shares of Pioneer Natural Resources from $90.00 to $109.00 in a report on Thursday. ValuEngine raised shares of Pioneer Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Imperial Capital upped their price objective on shares of Pioneer Natural Resources from $83.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Wells Fargo & Co decreased their price objective on shares of Pioneer Natural Resources from $107.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, April 3rd. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $122.14.
NYSE:PXD opened at $92.42 on Friday. The stock has a market cap of $15.32 billion, a P/E ratio of 22.16, a PEG ratio of 9.89 and a beta of 1.78. Pioneer Natural Resources has a one year low of $48.62 and a one year high of $159.01. The company has a fifty day moving average price of $80.37 and a 200 day moving average price of $115.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.99 and a quick ratio of 0.90.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Wednesday, May 6th. The oil and gas development company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. Pioneer Natural Resources had a net margin of 7.60% and a return on equity of 10.46%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The business’s revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Pioneer Natural Resources will post 1.13 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, June 29th. Pioneer Natural Resources’s dividend payout ratio is 13.45%.
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.
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