Investors Buy Shares of Pioneer Natural Resources Company (PXD) on Weakness
Investors purchased shares of Pioneer Natural Resources Company (NYSE:PXD) on weakness during trading on Thursday. $48.37 million flowed into the stock on the tick-up and $31.17 million flowed out of the stock on the tick-down, for a money net flow of $17.20 million into the stock. Of all stocks tracked, Pioneer Natural Resources had the 28th highest net in-flow for the day. Pioneer Natural Resources traded down ($1.30) for the day and closed at $131.78
PXD has been the subject of several analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $246.00 price objective (up previously from $225.00) on shares of Pioneer Natural Resources in a research note on Thursday, May 11th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $233.00 price objective on shares of Pioneer Natural Resources in a research note on Friday, May 12th. Credit Suisse Group reaffirmed a “buy” rating on shares of Pioneer Natural Resources in a research note on Monday, May 15th. Scotiabank reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Pioneer Natural Resources in a research note on Monday, May 15th. Finally, Jefferies Group LLC set a $243.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $204.40.
The company has a market cap of $22.42 billion, a P/E ratio of 132.98 and a beta of 0.94. The stock has a 50-day moving average of $139.85 and a 200-day moving average of $165.38.
Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. Pioneer Natural Resources’s quarterly revenue was up 107.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) EPS. Analysts forecast that Pioneer Natural Resources Company will post $1.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, September 28th. Pioneer Natural Resources’s dividend payout ratio is 8.16%.
In other Pioneer Natural Resources news, Director Andrew F. Cates purchased 350 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $135.37 per share, with a total value of $47,379.50. Following the completion of the transaction, the director now owns 14,556 shares in the company, valued at $1,970,445.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Kenneth Thompson purchased 750 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average cost of $133.40 per share, for a total transaction of $100,050.00. Following the completion of the transaction, the director now owns 10,865 shares of the company’s stock, valued at approximately $1,449,391. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,200 shares of company stock worth $161,102. 0.89% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Independence Advisors LLC bought a new position in Pioneer Natural Resources during the second quarter worth about $822,000. Murphy Capital Management Inc. increased its position in Pioneer Natural Resources by 4.5% during the second quarter. Murphy Capital Management Inc. now owns 115,080 shares of the oil and gas development company’s stock worth $18,364,000 after acquiring an additional 4,980 shares during the period. BlackRock Inc. increased its position in Pioneer Natural Resources by 2,397.3% during the first quarter. BlackRock Inc. now owns 11,376,848 shares of the oil and gas development company’s stock worth $2,118,708,000 after acquiring an additional 10,921,279 shares during the period. Harbour Capital Advisors LLC bought a new position in Pioneer Natural Resources during the first quarter worth about $260,000. Finally, Augustine Asset Management Inc. increased its position in Pioneer Natural Resources by 8.0% during the second quarter. Augustine Asset Management Inc. now owns 18,335 shares of the oil and gas development company’s stock worth $2,925,000 after acquiring an additional 1,363 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.
Pioneer Natural Resources Company Profile
Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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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