27,000 Shares in Pioneer Natural Resources (PXD) Purchased by Centenus Global Management LP
Centenus Global Management LP bought a new stake in Pioneer Natural Resources (NYSE:PXD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 27,000 shares of the oil and gas development company’s stock, valued at approximately $4,667,000. Pioneer Natural Resources makes up about 1.5% of Centenus Global Management LP’s holdings, making the stock its 22nd largest holding.
A number of other institutional investors and hedge funds also recently made changes to their positions in PXD. BlackRock Inc. grew its position in Pioneer Natural Resources by 11.4% in the 4th quarter. BlackRock Inc. now owns 13,552,443 shares of the oil and gas development company’s stock valued at $2,342,540,000 after buying an additional 1,389,479 shares in the last quarter. Boston Partners grew its position in Pioneer Natural Resources by 51.2% in the 4th quarter. Boston Partners now owns 2,262,356 shares of the oil and gas development company’s stock valued at $391,048,000 after buying an additional 766,124 shares in the last quarter. Point72 Asset Management L.P. grew its position in Pioneer Natural Resources by 2,357.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 739,763 shares of the oil and gas development company’s stock valued at $109,145,000 after buying an additional 709,663 shares in the last quarter. First Eagle Investment Management LLC bought a new position in Pioneer Natural Resources in the 3rd quarter valued at about $75,317,000. Finally, American Century Companies Inc. grew its position in Pioneer Natural Resources by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 2,286,903 shares of the oil and gas development company’s stock valued at $337,410,000 after buying an additional 384,485 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Shares of Pioneer Natural Resources (NYSE:PXD) opened at $168.89 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.31 and a current ratio of 1.41. Pioneer Natural Resources has a 52 week low of $125.46 and a 52 week high of $196.00. The company has a market cap of $28,740.00, a PE ratio of 141.92, a price-to-earnings-growth ratio of 2.72 and a beta of 0.96.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This is a positive change from Pioneer Natural Resources’s previous semiannual dividend of $0.04. This represents a yield of 0.18%. Pioneer Natural Resources’s dividend payout ratio is currently 6.72%.
Pioneer Natural Resources announced that its board has initiated a share repurchase program on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts recently issued reports on the stock. Stifel Nicolaus set a $260.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Tuesday, January 30th. Morgan Stanley upped their price target on shares of Pioneer Natural Resources from $197.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Credit Suisse Group set a $218.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Cowen set a $225.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $225.00 price target on shares of Pioneer Natural Resources in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $211.26.
In other news, SVP Mark H. Kleinman sold 1,150 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $180.17, for a total value of $207,195.50. Following the completion of the sale, the senior vice president now directly owns 13,327 shares of the company’s stock, valued at $2,401,125.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard P. Dealy sold 5,523 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $164.23, for a total transaction of $907,042.29. Following the completion of the sale, the chief financial officer now directly owns 76,297 shares of the company’s stock, valued at $12,530,256.31. The disclosure for this sale can be found here. Insiders have sold 29,418 shares of company stock valued at $4,993,105 over the last ninety days. Insiders own 0.89% of the company’s stock.
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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