Pioneer Natural Resources (PXD) Holdings Reduced by State Treasurer State of Michigan

State Treasurer State of Michigan lowered its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 0.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 48,502 shares of the oil and gas development company’s stock after selling 300 shares during the quarter. State Treasurer State of Michigan’s holdings in Pioneer Natural Resources were worth $7,386,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in Pioneer Natural Resources by 2.1% in the third quarter. Legal & General Group Plc now owns 744,629 shares of the oil and gas development company’s stock worth $129,706,000 after purchasing an additional 15,319 shares during the period. Morgan Stanley grew its holdings in Pioneer Natural Resources by 6.8% in the third quarter. Morgan Stanley now owns 1,026,609 shares of the oil and gas development company’s stock worth $178,825,000 after purchasing an additional 65,096 shares during the period. State of Alaska Department of Revenue grew its holdings in Pioneer Natural Resources by 2.9% in the fourth quarter. State of Alaska Department of Revenue now owns 28,239 shares of the oil and gas development company’s stock worth $3,712,000 after purchasing an additional 785 shares during the period. First Hawaiian Bank grew its holdings in Pioneer Natural Resources by 39.5% in the fourth quarter. First Hawaiian Bank now owns 2,433 shares of the oil and gas development company’s stock worth $320,000 after purchasing an additional 689 shares during the period. Finally, Gateway Investment Advisers LLC grew its holdings in Pioneer Natural Resources by 13.0% in the fourth quarter. Gateway Investment Advisers LLC now owns 10,941 shares of the oil and gas development company’s stock worth $1,439,000 after purchasing an additional 1,258 shares during the period. Hedge funds and other institutional investors own 89.22% of the company’s stock.

A number of brokerages have recently issued reports on PXD. Barclays set a $190.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Wednesday, January 16th. Raymond James set a $250.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Wednesday, January 23rd. Morgan Stanley set a $185.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Tuesday, January 29th. Mitsubishi UFJ Financial Group lifted their price objective on shares of Pioneer Natural Resources to $227.00 and gave the company an “overweight” rating in a report on Monday, February 4th. Finally, Imperial Capital set a $198.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $206.26.

Pioneer Natural Resources stock opened at $150.35 on Wednesday. Pioneer Natural Resources has a fifty-two week low of $119.08 and a fifty-two week high of $213.40. The stock has a market cap of $24.80 billion, a P/E ratio of 23.83, a PEG ratio of 0.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.99.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Monday, May 6th. The oil and gas development company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.22. Pioneer Natural Resources had a net margin of 11.89% and a return on equity of 9.31%. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts anticipate that Pioneer Natural Resources will post 8.81 earnings per share for the current year.

In related news, CAO Margaret Montemayor sold 888 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $153.38, for a total transaction of $136,201.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.91% of the stock is currently owned by insiders.

TRADEMARK VIOLATION WARNING: This report was published by WKRB News and is owned by of WKRB News. If you are reading this report on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The correct version of this report can be viewed at https://www.wkrb13.com/2019/05/15/pioneer-natural-resources-pxd-holdings-reduced-by-state-treasurer-state-of-michigan.html.

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.

See Also: What is the Stochastic Momentum Index (SMI)?

Want to see what other hedge funds are holding PXD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pioneer Natural Resources (NYSE:PXD).

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

Receive News & Ratings for Pioneer Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.