Scout Investments Inc. boosted its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 32.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,810 shares of the oil and gas development company’s stock after purchasing an additional 31,338 shares during the period. Scout Investments Inc. owned approximately 0.08% of Pioneer Natural Resources worth $15,949,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Pioneer Natural Resources by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,359,563 shares of the oil and gas development company’s stock valued at $2,055,502,000 after acquiring an additional 110,334 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Pioneer Natural Resources by 35.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,623,503 shares of the oil and gas development company’s stock valued at $1,788,392,000 after buying an additional 3,032,727 shares during the period. BlackRock Inc. increased its stake in Pioneer Natural Resources by 9.6% in the 2nd quarter. BlackRock Inc. now owns 11,490,193 shares of the oil and gas development company’s stock valued at $1,767,880,000 after buying an additional 1,008,677 shares during the period. Primecap Management Co. CA increased its stake in Pioneer Natural Resources by 203.6% in the 2nd quarter. Primecap Management Co. CA now owns 4,150,495 shares of the oil and gas development company’s stock valued at $638,595,000 after buying an additional 2,783,199 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of Pioneer Natural Resources by 11.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,177,174 shares of the oil and gas development company’s stock worth $483,820,000 after purchasing an additional 334,024 shares during the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:PXD traded up $2.02 during midday trading on Wednesday, reaching $125.48. 14,631 shares of the company’s stock were exchanged, compared to its average volume of 1,779,212. The firm has a market capitalization of $20.64 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 0.70 and a beta of 1.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.76 and a current ratio of 0.86. The company’s 50 day simple moving average is $127.75 and its two-hundred day simple moving average is $142.31. Pioneer Natural Resources has a 12 month low of $114.79 and a 12 month high of $189.78.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 27th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.16. Pioneer Natural Resources’s dividend payout ratio (DPR) is 13.95%.
PXD has been the topic of several analyst reports. Robert W. Baird increased their price target on shares of Pioneer Natural Resources from $142.00 to $157.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Seaport Global Securities restated a “buy” rating on shares of Pioneer Natural Resources in a research note on Friday, June 21st. Royal Bank of Canada restated a “buy” rating and set a $190.00 price target on shares of Pioneer Natural Resources in a research note on Sunday, August 11th. Piper Jaffray Companies set a $202.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Citigroup dropped their price target on shares of Pioneer Natural Resources from $180.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $190.76.
In related news, Director J Kenneth Thompson acquired 500 shares of the stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of $121.01 per share, for a total transaction of $60,505.00. Following the transaction, the director now owns 13,024 shares of the company’s stock, valued at approximately $1,576,034.24. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Chris J. Cheatwood sold 5,619 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $140.35, for a total transaction of $788,626.65. Following the completion of the sale, the executive vice president now owns 39,027 shares of the company’s stock, valued at approximately $5,477,439.45. The disclosure for this sale can be found here. Company insiders own 0.91% of the company’s stock.
Pioneer Natural Resources Company 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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