King Luther Capital Management Corp boosted its position in Pioneer Natural Resources (NYSE:PXD) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,612 shares of the oil and gas development company’s stock after purchasing an additional 6,242 shares during the quarter. King Luther Capital Management Corp’s holdings in Pioneer Natural Resources were worth $43,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PXD. Dimensional Fund Advisors LP increased its stake in shares of Pioneer Natural Resources by 24.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,119,088 shares of the oil and gas development company’s stock worth $147,184,000 after purchasing an additional 217,216 shares during the period. Geode Capital Management LLC increased its stake in Pioneer Natural Resources by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 1,972,086 shares of the oil and gas development company’s stock valued at $258,857,000 after acquiring an additional 113,932 shares during the period. Janney Montgomery Scott LLC increased its stake in Pioneer Natural Resources by 5.6% during the first quarter. Janney Montgomery Scott LLC now owns 25,187 shares of the oil and gas development company’s stock valued at $3,835,000 after acquiring an additional 1,326 shares during the period. Savant Capital LLC bought a new position in Pioneer Natural Resources during the first quarter valued at about $218,000. Finally, Candriam Luxembourg S.C.A. increased its stake in Pioneer Natural Resources by 31.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 36,592 shares of the oil and gas development company’s stock valued at $5,572,000 after acquiring an additional 8,714 shares during the period. Institutional investors and hedge funds own 85.80% of the company’s stock.
Several brokerages recently issued reports on PXD. TD Securities lowered their price target on Pioneer Natural Resources from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. SunTrust Banks lowered 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. Wells Fargo & Co boosted their price target on Pioneer Natural Resources from $182.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Royal Bank of Canada restated a “buy” rating and set a $190.00 price target on shares of Pioneer Natural Resources in a research note on Sunday, August 11th. Finally, Piper Jaffray Companies set a $202.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $193.85.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.13. Pioneer Natural Resources had a return on equity of 10.04% and a net margin of 9.65%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the company posted $1.41 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Pioneer Natural Resources will post 8.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 27th will be paid a $0.44 dividend. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.16. This represents a $1.76 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 26th. Pioneer Natural Resources’s dividend payout ratio is currently 10.14%.
In related news, Director J Kenneth Thompson acquired 500 shares of the stock in a transaction dated Tuesday, August 27th. The shares were bought at an average cost of $121.01 per share, for a total transaction of $60,505.00. Following the purchase, the director now owns 13,024 shares in the company, valued at approximately $1,576,034.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.91% of the company’s stock.
Pioneer Natural Resources 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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