Envestnet Asset Management Inc. Sells 14,844 Shares of Pioneer Natural Resources (PXD)

Envestnet Asset Management Inc. reduced its holdings in Pioneer Natural Resources (NYSE:PXD) by 35.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,618 shares of the oil and gas development company’s stock after selling 14,844 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Pioneer Natural Resources were worth $4,635,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Korea Investment CORP lifted its position in Pioneer Natural Resources by 14.4% in the 1st quarter. Korea Investment CORP now owns 253,421 shares of the oil and gas development company’s stock valued at $43,533,000 after purchasing an additional 31,950 shares during the last quarter. Exencial Wealth Advisors LLC lifted its position in Pioneer Natural Resources by 3.8% in the 1st quarter. Exencial Wealth Advisors LLC now owns 19,717 shares of the oil and gas development company’s stock valued at $3,387,000 after purchasing an additional 727 shares during the last quarter. Waters Parkerson & CO. LLC lifted its position in Pioneer Natural Resources by 0.5% in the 1st quarter. Waters Parkerson & CO. LLC now owns 92,799 shares of the oil and gas development company’s stock valued at $15,941,000 after purchasing an additional 501 shares during the last quarter. King Luther Capital Management Corp lifted its position in Pioneer Natural Resources by 5.4% in the 1st quarter. King Luther Capital Management Corp now owns 237,637 shares of the oil and gas development company’s stock valued at $40,821,000 after purchasing an additional 12,226 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new stake in Pioneer Natural Resources in the 1st quarter valued at about $206,000. Institutional investors own 88.12% of the company’s stock.

Several analysts recently weighed in on PXD shares. Piper Jaffray Companies set a $227.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Wednesday, March 14th. Zacks Investment Research downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Williams Capital set a $202.00 price objective on shares of Pioneer Natural Resources and gave the company a “hold” rating in a research report on Thursday, May 3rd. Stifel Nicolaus set a $280.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of Pioneer Natural Resources in a research report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pioneer Natural Resources has a consensus rating of “Buy” and an average target price of $219.22.

Shares of Pioneer Natural Resources opened at $193.23 on Friday, according to MarketBeat Ratings. The company has a market capitalization of $34.00 billion, a PE ratio of 89.46, a price-to-earnings-growth ratio of 2.20 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 1.26. Pioneer Natural Resources has a 12-month low of $125.46 and a 12-month high of $213.40.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Wednesday, May 2nd. The oil and gas development company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.16. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Pioneer Natural Resources had a net margin of 15.56% and a return on equity of 5.57%. The business’s revenue was up 56.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. research analysts forecast that Pioneer Natural Resources will post 6.9 EPS for the current fiscal year.

Pioneer Natural Resources declared that its board has authorized a stock repurchase 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 purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, EVP Chris J. Cheatwood sold 9,513 shares of Pioneer Natural Resources stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $175.93, for a total value of $1,673,622.09. Following the transaction, the executive vice president now directly owns 42,931 shares of the company’s stock, valued at $7,552,850.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Margaret Montemayor sold 1,410 shares of Pioneer Natural Resources stock in a transaction that occurred 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. Insiders sold a total of 85,138 shares of company stock worth $17,086,375 in the last ninety days. Corporate insiders own 0.92% of the company’s stock.

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

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