Wells Fargo & Company MN decreased its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 9.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 586,228 shares of the oil and gas development company’s stock after selling 64,121 shares during the quarter. Wells Fargo & Company MN’s holdings in Pioneer Natural Resources were worth $101,329,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP acquired a new stake in Pioneer Natural Resources during the fourth quarter worth $3,370,000. Public Employees Retirement System of Ohio increased its stake in Pioneer Natural Resources by 0.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,972 shares of the oil and gas development company’s stock worth $31,108,000 after acquiring an additional 953 shares during the last quarter. Pinnacle Financial Partners Inc. acquired a new stake in Pioneer Natural Resources during the fourth quarter worth $916,000. Cetera Advisors LLC acquired a new stake in Pioneer Natural Resources during the fourth quarter worth $215,000. Finally, Barings LLC acquired a new stake in Pioneer Natural Resources during the fourth quarter worth $339,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.
In other Pioneer Natural Resources news, EVP Jerome D. Hall, Jr. sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $172.60, for a total transaction of $310,680.00. Following the transaction, the executive vice president now owns 22,964 shares in the company, valued at approximately $3,963,586.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Stephen Berg sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $154.47, for a total value of $308,940.00. Following the completion of the sale, the executive vice president now owns 48,719 shares in the company, valued at approximately $7,525,623.93. The disclosure for this sale can be found here. Insiders have sold a total of 27,306 shares of company stock worth $4,506,785 in the last quarter. 0.89% of the stock is currently owned by insiders.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas development company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.63. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.39 billion. Pioneer Natural Resources had a return on equity of 3.45% and a net margin of 13.69%. The firm’s revenue was up 48.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 EPS. equities research analysts predict that Pioneer Natural Resources will post 5.69 earnings per share for the current year.
Pioneer Natural Resources announced that its board has initiated a share repurchase plan on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas development company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business 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 is Wednesday, March 28th. This is an increase 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 1.65%.
PXD has been the subject of several recent analyst reports. TheStreet raised Pioneer Natural Resources from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. KeyCorp set a $180.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Saturday, November 25th. Mizuho set a $190.00 price objective on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Saturday, November 25th. Zacks Investment Research raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research note on Friday, December 15th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Pioneer Natural Resources in a research note on Friday, November 3rd. Two equities research 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 company. Pioneer Natural Resources has an average rating of “Buy” and an average price target of $210.30.
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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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