California State Teachers Retirement System lessened its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 299,635 shares of the oil and gas development company’s stock after selling 7,970 shares during the period. California State Teachers Retirement System’s holdings in Pioneer Natural Resources were worth $51,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in shares of Pioneer Natural Resources during the 3rd quarter valued at about $176,000. Savant Capital LLC bought a new position in shares of Pioneer Natural Resources in the 4th quarter valued at about $208,000. Cetera Advisors LLC bought a new position in shares of Pioneer Natural Resources in the 4th quarter valued at about $215,000. Guardian Capital Advisors LP bought a new position in shares of Pioneer Natural Resources in the 4th quarter valued at about $215,000. Finally, Trust Co. of Toledo NA OH bought a new position in shares of Pioneer Natural Resources in the 4th quarter valued at about $217,000. 89.44% of the stock is owned by institutional investors and hedge funds.

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Pioneer Natural Resources (PXD) opened at $169.04 on Thursday. The company has a market cap of $28,790.00, a P/E ratio of 142.05, a PEG ratio of 2.57 and a beta of 0.96. 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 1 year low of $125.46 and a 1 year high of $192.93.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.63. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. Pioneer Natural Resources’s revenue was up 48.4% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. research analysts anticipate that Pioneer Natural Resources will post 6.16 EPS for the current year.

Pioneer Natural Resources declared that its board has initiated a stock buyback program on Tuesday, February 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The firm also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 29th will be issued a dividend of $0.16 per share. 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 is Wednesday, March 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 6.72%.

In other Pioneer Natural Resources news, SVP Frank E. Hopkins sold 2,000 shares of Pioneer Natural Resources stock in a transaction on Monday, December 18th. The shares were sold at an average price of $160.00, for a total value of $320,000.00. Following the transaction, the senior vice president now directly owns 38,101 shares of the company’s stock, valued at $6,096,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Margaret Montemayor sold 1,410 shares of Pioneer Natural Resources stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $179.33, for a total transaction of $252,855.30. Following the completion of the transaction, the chief accounting officer now directly owns 7,586 shares in the company, valued at $1,360,397.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,218 shares of company stock worth $4,486,025. 0.89% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on PXD. Mitsubishi UFJ Financial Group reaffirmed an “overweight” rating on shares of Pioneer Natural Resources in a report on Wednesday, March 7th. UBS Group began coverage on shares of Pioneer Natural Resources in a report on Wednesday, March 7th. They issued a “buy” rating and a $215.00 price target for the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $250.00 price target on shares of Pioneer Natural Resources in a report on Tuesday, February 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $280.00 price target (up previously from $260.00) on shares of Pioneer Natural Resources in a report on Wednesday, February 14th. Finally, Citigroup increased their price target on shares of Pioneer Natural Resources from $215.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the company. Pioneer Natural Resources has an average rating of “Buy” and an average target price of $211.40.

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Pioneer Natural Resources 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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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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