IFP Advisors Inc Sells 1,319 Shares of Pioneer Natural Resources (PXD)
IFP Advisors Inc reduced its stake in Pioneer Natural Resources (NYSE:PXD) by 58.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 954 shares of the oil and gas development company’s stock after selling 1,319 shares during the quarter. IFP Advisors Inc’s holdings in Pioneer Natural Resources were worth $165,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. GWM Advisors LLC bought a new stake in Pioneer Natural Resources during the second quarter valued at about $100,000. WFG Advisors LP raised its holdings in Pioneer Natural Resources by 10.2% during the second quarter. WFG Advisors LP now owns 1,102 shares of the oil and gas development company’s stock valued at $176,000 after acquiring an additional 102 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Pioneer Natural Resources during the third quarter valued at about $176,000. Shelton Capital Management bought a new stake in Pioneer Natural Resources during the second quarter valued at about $205,000. Finally, Cetera Investment Advisers bought a new stake in Pioneer Natural Resources during the second quarter valued at about $206,000. 90.97% of the stock is currently owned by institutional investors.
In other Pioneer Natural Resources news, EVP Mark Stephen Berg sold 2,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $154.47, for a total value of $308,940.00. Following the sale, the executive vice president now directly owns 48,719 shares of the company’s stock, valued at $7,525,623.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy L. Dove sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $159.51, for a total transaction of $159,510.00. Following the completion of the sale, the chief executive officer now directly owns 259,083 shares in the company, valued at $41,326,329.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,106 shares of company stock worth $4,444,339. 0.89% of the stock is owned by corporate insiders.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.63. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.39 billion. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The firm’s revenue was up 48.4% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. analysts expect that Pioneer Natural Resources will post 4.67 EPS for the current year.
Pioneer Natural Resources announced that its board has approved a stock repurchase plan on Tuesday, February 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be issued a $0.16 dividend. This represents a yield of 0.18%. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio is presently 1.65%.
A number of research firms have commented on PXD. Jefferies Group reissued a “buy” rating and set a $238.00 price target on shares of Pioneer Natural Resources in a report on Thursday. Imperial Capital raised their price target on Pioneer Natural Resources from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday. Stifel Nicolaus set a $260.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a report on Tuesday, January 30th. SunTrust Banks cut Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Tuesday. Finally, TheStreet raised Pioneer Natural Resources from a “c” rating to a “b” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Pioneer Natural Resources has a consensus rating of “Buy” and an average target price of $207.18.
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About Pioneer Natural Resources
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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