Janney Capital Management LLC cut its holdings in Pioneer Natural Resources (NYSE:PXD) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,091 shares of the oil and gas development company’s stock after selling 17,466 shares during the period. Janney Capital Management LLC’s holdings in Pioneer Natural Resources were worth $6,062,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. We Are One Seven LLC bought a new position in shares of Pioneer Natural Resources in the fourth quarter worth about $58,000. Meeder Asset Management Inc. acquired a new stake in Pioneer Natural Resources during the fourth quarter worth about $76,000. Quadrant Capital Group LLC grew its position in Pioneer Natural Resources by 23.2% during the fourth quarter. Quadrant Capital Group LLC now owns 722 shares of the oil and gas development company’s stock worth $86,000 after buying an additional 136 shares in the last quarter. Kiley Juergens Wealth Management LLC grew its position in Pioneer Natural Resources by 159.5% during the third quarter. Kiley Juergens Wealth Management LLC now owns 768 shares of the oil and gas development company’s stock worth $133,000 after buying an additional 472 shares in the last quarter. Finally, Banco de Sabadell S.A grew its position in Pioneer Natural Resources by 100.0% during the third quarter. Banco de Sabadell S.A now owns 1,000 shares of the oil and gas development company’s stock worth $173,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 87.16% of the company’s stock.
NYSE:PXD opened at $143.59 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.20 and a quick ratio of 1.07. Pioneer Natural Resources has a 1 year low of $119.08 and a 1 year high of $213.40. The company has a market capitalization of $24.64 billion, a PE ratio of 66.48, a PEG ratio of 1.72 and a beta of 1.08.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.38. Pioneer Natural Resources had a net margin of 15.98% and a return on equity of 9.47%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company posted $0.48 EPS. Pioneer Natural Resources’s revenue was up 112.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Pioneer Natural Resources will post 6.97 EPS for the current year.
Pioneer Natural Resources declared that its board has authorized a stock repurchase program on Thursday, December 13th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas development company to buy up to 8.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, CEO Timothy L. Dove sold 4,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $134.18, for a total value of $644,064.00. Following the completion of the transaction, the chief executive officer now owns 276,901 shares in the company, valued at approximately $37,154,576.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew F. Cates acquired 790 shares of the company’s stock in a transaction that occurred on Thursday, December 27th. The stock was bought at an average price of $124.27 per share, with a total value of $98,173.30. Following the transaction, the director now directly owns 13,370 shares in the company, valued at $1,661,489.90. The disclosure for this purchase can be found here. Insiders own 0.92% of the company’s stock.
PXD has been the topic of a number of recent research reports. Morgan Stanley reissued a “buy” rating and set a $234.00 target price (down from $240.00) on shares of Pioneer Natural Resources in a research report on Friday, October 12th. Seaport Global Securities downgraded Pioneer Natural Resources from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $230.00 to $210.00 in a research report on Wednesday, October 10th. Ifs Securities raised Pioneer Natural Resources from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, November 14th. ValuEngine downgraded Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research report on Monday, November 26th. Finally, Stephens initiated coverage on Pioneer Natural Resources in a research report on Thursday, December 6th. They set an “overweight” rating and a $270.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $226.31.
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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