Pioneer Natural Resources (PXD) Stake Raised by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL grew its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 204.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,100 shares of the oil and gas development company’s stock after buying an additional 20,900 shares during the period. Virginia Retirement Systems ET AL’s holdings in Pioneer Natural Resources were worth $5,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC increased its position in Pioneer Natural Resources by 159.5% in the third quarter. Kiley Juergens Wealth Management LLC now owns 768 shares of the oil and gas development company’s stock worth $133,000 after purchasing an additional 472 shares during the last quarter. Bradley Foster & Sargent Inc. CT bought a new stake in Pioneer Natural Resources in the second quarter worth $207,000. Welch & Forbes LLC bought a new stake in Pioneer Natural Resources in the second quarter worth $218,000. Jaffetilchin Investment Partners LLC bought a new stake in Pioneer Natural Resources in the second quarter worth $227,000. Finally, Fox Run Management L.L.C. bought a new stake in Pioneer Natural Resources in the third quarter worth $227,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $214.00 price target on the stock in a research report on Tuesday, July 31st. Seaport Global Securities restated a “buy” rating on shares of Pioneer Natural Resources in a research report on Wednesday, July 25th. TheStreet cut shares of Pioneer Natural Resources from a “b-” rating to a “c+” rating in a research report on Tuesday, August 7th. Imperial Capital reduced their price target on shares of Pioneer Natural Resources from $232.00 to $222.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. Finally, Williams Capital restated a “hold” rating and issued a $226.00 price target on shares of Pioneer Natural Resources in a research report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $235.96.
Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.38. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.24 billion. Pioneer Natural Resources had a net margin of 15.98% and a return on equity of 9.47%. The business’s revenue was up 112.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. Analysts predict that Pioneer Natural Resources will post 6.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were paid a dividend of $0.16 per share. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.04. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, September 27th. Pioneer Natural Resources’s payout ratio is currently 14.81%.
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Pioneer Natural Resources Profile
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, 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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