Reinhart Partners Inc. bought a new position in shares of Pioneer Natural Resources (NYSE:PXD) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 194,872 shares of the oil and gas development company’s stock, valued at approximately $24,509,000. Pioneer Natural Resources makes up about 2.3% of Reinhart Partners Inc.’s investment portfolio, making the stock its 16th biggest position.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Pioneer Natural Resources by 35.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,623,503 shares of the oil and gas development company’s stock valued at $1,788,392,000 after buying an additional 3,032,727 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Pioneer Natural Resources by 203.6% during the second quarter. Primecap Management Co. CA now owns 4,150,495 shares of the oil and gas development company’s stock valued at $638,595,000 after purchasing an additional 2,783,199 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Pioneer Natural Resources by 9.6% during the second quarter. BlackRock Inc. now owns 11,490,193 shares of the oil and gas development company’s stock valued at $1,767,880,000 after purchasing an additional 1,008,677 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Pioneer Natural Resources by 1,105.9% during the second quarter. Nuveen Asset Management LLC now owns 820,509 shares of the oil and gas development company’s stock valued at $126,243,000 after purchasing an additional 752,470 shares in the last quarter. Finally, USS Investment Management Ltd boosted its stake in shares of Pioneer Natural Resources by 37.1% during the third quarter. USS Investment Management Ltd now owns 1,164,718 shares of the oil and gas development company’s stock valued at $146,492,000 after purchasing an additional 315,100 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors.
PXD has been the topic of a number of recent research reports. SunTrust Banks cut their price target on Pioneer Natural Resources to $130.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Williams Capital reissued a “buy” rating and set a $190.00 price target on shares of Pioneer Natural Resources in a research note on Tuesday, November 5th. KeyCorp lifted their price target on Pioneer Natural Resources from $168.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Citigroup reissued a “buy” rating on shares of Pioneer Natural Resources in a research note on Tuesday, October 8th. Finally, Wells Fargo & Co raised their price objective on Pioneer Natural Resources from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $186.97.
Shares of PXD traded down $1.58 during mid-day trading on Friday, reaching $134.99. 1,085,631 shares of the company were exchanged, compared to its average volume of 1,767,316. Pioneer Natural Resources has a 52 week low of $114.79 and a 52 week high of $178.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.76 and a current ratio of 0.78. The stock has a market capitalization of $22.71 billion, a PE ratio of 21.39, a PEG ratio of 1.00 and a beta of 1.14. The business has a 50 day simple moving average of $128.54 and a two-hundred day simple moving average of $138.37.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Monday, November 4th. The oil and gas development company reported $1.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.02 by ($0.03). Pioneer Natural Resources had a return on equity of 9.86% and a net margin of 7.88%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the business earned $2.07 earnings per share. Pioneer Natural Resources’s revenue was down 6.1% compared to the same quarter last year. On average, analysts predict that Pioneer Natural Resources will post 8.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.44 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.30%. Pioneer Natural Resources’s payout ratio is currently 13.95%.
In other Pioneer Natural Resources news, Director J Kenneth Thompson bought 500 shares of the stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $121.01 per share, for a total transaction of $60,505.00. Following the completion of the acquisition, the director now owns 13,024 shares in the company, valued at approximately $1,576,034.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris J. Cheatwood sold 5,619 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $140.35, for a total value of $788,626.65. Following the completion of the sale, the executive vice president now owns 39,027 shares of the company’s stock, valued at $5,477,439.45. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.
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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