Primecap Management Co. CA boosted its stake in Pioneer Natural Resources (NYSE:PXD) by 90.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,367,296 shares of the oil and gas development company’s stock after buying an additional 649,746 shares during the quarter. Primecap Management Co. CA’s holdings in Pioneer Natural Resources were worth $208,212,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in PXD. Westpac Banking Corp increased its holdings in Pioneer Natural Resources by 13.3% in the first quarter. Westpac Banking Corp now owns 12,136 shares of the oil and gas development company’s stock valued at $1,848,000 after purchasing an additional 1,420 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in Pioneer Natural Resources by 19.3% in the first quarter. Riverhead Capital Management LLC now owns 9,282 shares of the oil and gas development company’s stock valued at $1,413,000 after purchasing an additional 1,503 shares during the last quarter. HITE Hedge Asset Management LLC increased its holdings in Pioneer Natural Resources by 101.4% in the first quarter. HITE Hedge Asset Management LLC now owns 3,579 shares of the oil and gas development company’s stock valued at $545,000 after purchasing an additional 1,802 shares during the last quarter. Andra AP fonden bought a new stake in Pioneer Natural Resources in the first quarter valued at about $4,736,000. Finally, GWM Advisors LLC bought a new stake in Pioneer Natural Resources in the first quarter valued at about $229,000. 87.98% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the company. Morgan Stanley upped their price objective on Pioneer Natural Resources from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. S&P Equity Research reiterated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of Pioneer Natural Resources in a report on Wednesday, May 8th. Imperial Capital dropped their price objective on Pioneer Natural Resources from $200.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. ValuEngine downgraded Pioneer Natural Resources from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Finally, TheStreet raised Pioneer Natural Resources from a “c+” rating to a “b-” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Pioneer Natural Resources presently has an average rating of “Buy” and an average price target of $205.51.
NYSE:PXD traded down $0.41 during trading hours on Friday, reaching $142.84. 165,207 shares of the company were exchanged, compared to its average volume of 1,603,351. The company has a market capitalization of $23.80 billion, a P/E ratio of 22.64, a P/E/G ratio of 0.85 and a beta of 1.09. Pioneer Natural Resources has a 1-year low of $119.08 and a 1-year high of $195.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.99 and a quick ratio of 0.89.
Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Monday, May 6th. The oil and gas development company reported $1.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.22. Pioneer Natural Resources had a return on equity of 9.31% and a net margin of 11.89%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the business posted $0.92 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Pioneer Natural Resources will post 9.12 EPS for the current fiscal year.
In related news, CAO Margaret Montemayor sold 888 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.38, for a total transaction of $136,201.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.91% of the company’s stock.
Pioneer Natural Resources Company 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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