Pekin Hardy Strauss Inc. Lowers Position in Pioneer Natural Resources (NYSE:PXD)

Pekin Hardy Strauss Inc. trimmed its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,356 shares of the oil and gas development company’s stock after selling 225 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Pioneer Natural Resources were worth $870,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Pioneer Natural Resources by 22.8% during the first quarter. Geode Capital Management LLC now owns 3,671,743 shares of the oil and gas development company’s stock valued at $581,655,000 after purchasing an additional 682,241 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Pioneer Natural Resources by 14.5% during the second quarter. Bank of New York Mellon Corp now owns 3,380,615 shares of the oil and gas development company’s stock valued at $549,417,000 after acquiring an additional 426,878 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Pioneer Natural Resources by 15.0% during the first quarter. Nuveen Asset Management LLC now owns 2,789,750 shares of the oil and gas development company’s stock valued at $443,068,000 after acquiring an additional 364,125 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Pioneer Natural Resources by 58.2% during the first quarter. Clearbridge Investments LLC now owns 2,690,661 shares of the oil and gas development company’s stock valued at $427,331,000 after acquiring an additional 989,553 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Pioneer Natural Resources by 21.2% during the first quarter. Northern Trust Corp now owns 2,376,082 shares of the oil and gas development company’s stock valued at $377,370,000 after acquiring an additional 416,285 shares in the last quarter. Hedge funds and other institutional investors own 86.80% of the company’s stock.

PXD has been the subject of several analyst reports. The Goldman Sachs Group raised shares of Pioneer Natural Resources from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, September 9th. Raymond James lifted their target price on shares of Pioneer Natural Resources from $245.00 to $253.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 27th. Sanford C. Bernstein raised shares of Pioneer Natural Resources from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $156.00 to $202.00 in a research report on Monday, June 21st. Barclays boosted their price objective on shares of Pioneer Natural Resources from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 3rd. Finally, Citigroup boosted their price objective on shares of Pioneer Natural Resources from $206.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 13th. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pioneer Natural Resources presently has an average rating of “Buy” and an average price target of $191.57.

Shares of PXD stock opened at $162.03 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.55 and a quick ratio of 0.47. The company has a market capitalization of $39.53 billion, a P/E ratio of 120.02, a P/E/G ratio of 1.40 and a beta of 1.93. The company’s 50-day simple moving average is $148.75 and its two-hundred day simple moving average is $154.77. Pioneer Natural Resources has a one year low of $76.58 and a one year high of $175.37.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Sunday, August 1st. The oil and gas development company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.56 by ($0.01). Pioneer Natural Resources had a return on equity of 7.67% and a net margin of 3.49%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the company posted ($0.32) EPS. Pioneer Natural Resources’s revenue for the quarter was up 298.0% on a year-over-year basis. On average, research analysts expect that Pioneer Natural Resources will post 12.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 14th. Stockholders of record on Thursday, September 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.24 annualized dividend and a dividend yield of 1.38%. Pioneer Natural Resources’s payout ratio is presently 368.29%.

Pioneer Natural Resources Company Profile

Pioneer Natural Resources Co Operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses in the operation of Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997 and is headquartered in Irving, TX.

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

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