QS Investors LLC lowered its stake in Pioneer Natural Resources (NYSE:PXD) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,704 shares of the oil and gas development company’s stock after selling 1,003 shares during the period. QS Investors LLC’s holdings in Pioneer Natural Resources were worth $4,178,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Scout Investments Inc. acquired a new position in shares of Pioneer Natural Resources in the second quarter valued at approximately $60,543,000. Bessemer Group Inc. increased its holdings in shares of Pioneer Natural Resources by 4.5% in the first quarter. Bessemer Group Inc. now owns 721,234 shares of the oil and gas development company’s stock valued at $114,546,000 after purchasing an additional 30,904 shares during the period. Bank of Nova Scotia increased its holdings in shares of Pioneer Natural Resources by 447.7% in the second quarter. Bank of Nova Scotia now owns 384,629 shares of the oil and gas development company’s stock valued at $62,510,000 after purchasing an additional 314,406 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Pioneer Natural Resources by 3,311.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,977,308 shares of the oil and gas development company’s stock valued at $321,353,000 after purchasing an additional 1,919,353 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Pioneer Natural Resources by 13.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,054 shares of the oil and gas development company’s stock valued at $6,185,000 after purchasing an additional 4,365 shares during the period. 86.80% of the stock is currently owned by institutional investors and hedge funds.
PXD has been the topic of a number of recent research reports. TheStreet raised Pioneer Natural Resources from a “c+” rating to a “b” rating in a report on Friday, October 8th. Mizuho lifted their price target on Pioneer Natural Resources from $224.00 to $231.00 and gave the company a “buy” rating in a research note on Thursday, July 15th. Sanford C. Bernstein upgraded Pioneer Natural Resources from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $156.00 to $202.00 in a research note on Monday, June 21st. KeyCorp lifted their price target on Pioneer Natural Resources from $192.00 to $202.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group upgraded Pioneer Natural Resources from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, September 9th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Pioneer Natural Resources currently has an average rating of “Buy” and a consensus target price of $198.27.
Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Sunday, August 1st. The oil and gas development company reported $2.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.56 by ($0.01). Pioneer Natural Resources had a net margin of 3.49% and a return on equity of 7.67%. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the company earned ($0.32) earnings per share. The firm’s revenue was up 298.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Pioneer Natural Resources will post 12.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Thursday, September 30th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.24 annualized dividend and a yield of 1.17%. Pioneer Natural Resources’s payout ratio is currently 136.59%.
About Pioneer Natural Resources
Pioneer Natural Resources Co Operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses in the operation of Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997 and is headquartered in Irving, TX.
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