Sumitomo Mitsui Trust Holdings Inc. Sells 17,372 Shares of Pioneer Natural Resources (NYSE:PXD)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Pioneer Natural Resources (NYSE:PXD) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 681,134 shares of the oil and gas development company’s stock after selling 17,372 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.40% of Pioneer Natural Resources worth $104,799,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PXD. Motco raised its position in shares of Pioneer Natural Resources by 2,542.9% in the first quarter. Motco now owns 185 shares of the oil and gas development company’s stock worth $28,000 after buying an additional 178 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Pioneer Natural Resources by 224.6% in the first quarter. Global Retirement Partners LLC now owns 198 shares of the oil and gas development company’s stock worth $30,000 after buying an additional 137 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of Pioneer Natural Resources in the first quarter worth $58,000. Carroll Financial Associates Inc. raised its position in shares of Pioneer Natural Resources by 264.8% in the second quarter. Carroll Financial Associates Inc. now owns 394 shares of the oil and gas development company’s stock worth $60,000 after buying an additional 286 shares in the last quarter. Finally, Gemmer Asset Management LLC raised its position in shares of Pioneer Natural Resources by 230.3% in the first quarter. Gemmer Asset Management LLC now owns 403 shares of the oil and gas development company’s stock worth $61,000 after buying an additional 281 shares in the last quarter. 87.46% of the stock is owned by hedge funds and other institutional investors.

Shares of PXD traded up $0.68 during trading hours on Friday, hitting $127.46. The company had a trading volume of 630,308 shares, compared to its average volume of 1,526,066. The firm has a market cap of $21.14 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 0.68 and a beta of 1.08. The company’s 50 day moving average is $141.33. The company has a current ratio of 0.99, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. Pioneer Natural Resources has a 52-week low of $114.79 and a 52-week high of $189.78.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.13. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Pioneer Natural Resources had a return on equity of 10.00% and a net margin of 9.65%. Pioneer Natural Resources’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period last year, the firm earned $1.41 earnings per share. On average, equities research analysts forecast that Pioneer Natural Resources will post 8.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 27th will be paid a $0.44 dividend. The ex-dividend date is Thursday, September 26th. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.16. This represents a $1.76 annualized dividend and a dividend yield of 1.38%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 10.14%.

A number of brokerages recently issued reports on PXD. Morgan Stanley lowered their price objective on Pioneer Natural Resources from $184.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Seaport Global Securities reiterated a “buy” rating on shares of Pioneer Natural Resources in a research report on Friday, June 21st. SunTrust Banks lowered their price objective on Pioneer Natural Resources to $130.00 and set a “hold” rating on the stock in a research report on Thursday. TheStreet downgraded Pioneer Natural Resources from a “b-” rating to a “c+” rating in a research report on Tuesday, July 23rd. Finally, Macquarie upgraded Pioneer Natural Resources from a “neutral” rating to an “outperform” rating and set a $168.32 price target on the stock in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $196.88.

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.

Further Reading: Return On Assets

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

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