The Manufacturers Life Insurance Company grew its stake in Pioneer Natural Resources (NYSE:PXD) by 13.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 294,304 shares of the oil and gas development company’s stock after acquiring an additional 34,063 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.18% of Pioneer Natural Resources worth $25,307,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Kore Private Wealth LLC increased its holdings in shares of Pioneer Natural Resources by 5.2% in the 2nd quarter. Kore Private Wealth LLC now owns 1,986 shares of the oil and gas development company’s stock valued at $194,000 after acquiring an additional 98 shares during the period. Signaturefd LLC grew its stake in Pioneer Natural Resources by 6.0% during the 2nd quarter. Signaturefd LLC now owns 2,007 shares of the oil and gas development company’s stock worth $196,000 after buying an additional 114 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Pioneer Natural Resources by 1.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,666 shares of the oil and gas development company’s stock worth $917,000 after buying an additional 128 shares during the last quarter. Stephenson National Bank & Trust grew its stake in Pioneer Natural Resources by 13.1% during the 3rd quarter. Stephenson National Bank & Trust now owns 1,191 shares of the oil and gas development company’s stock worth $102,000 after buying an additional 138 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Pioneer Natural Resources by 0.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,718 shares of the oil and gas development company’s stock worth $2,536,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 90.11% of the company’s stock.
Several research analysts recently weighed in on PXD shares. Credit Suisse Group started coverage on Pioneer Natural Resources in a research note on Tuesday, August 4th. They set a “buy” rating and a $115.00 target price on the stock. Wells Fargo & Company boosted their target price on Pioneer Natural Resources from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Piper Sandler lifted their price target on Pioneer Natural Resources from $106.00 to $113.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus lowered their price target on Pioneer Natural Resources from $161.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Finally, Argus lifted their price target on Pioneer Natural Resources from $109.00 to $132.00 in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $125.55.
Shares of PXD stock opened at $95.81 on Friday. The stock has a market cap of $15.75 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 6.28 and a beta of 1.84. The business has a 50-day simple moving average of $86.41 and a 200-day simple moving average of $94.02. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. Pioneer Natural Resources has a 52-week low of $48.62 and a 52-week high of $159.01.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Wednesday, November 4th. The oil and gas development company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.58 billion. Pioneer Natural Resources had a return on equity of 7.20% and a net margin of 5.26%. The business’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 EPS. Sell-side analysts anticipate that Pioneer Natural Resources will post 1.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Thursday, December 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $2.20 dividend on an annualized basis and a yield of 2.30%. Pioneer Natural Resources’s payout ratio is 26.89%.
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. As of December 31, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil, 16 million barrels of NGLs, and 83 billion cubic feet of gas; and owned interests in 11 gas processing plants.
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