Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 10.2% in the 4th quarter, HoldingsChannel reports. The fund owned 11,738 shares of the oil and gas development company’s stock after acquiring an additional 1,089 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Pioneer Natural Resources were worth $2,029,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in PXD. Captrust Financial Advisors purchased a new stake in Pioneer Natural Resources during the 4th quarter valued at about $104,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Pioneer Natural Resources in the 3rd quarter valued at approximately $176,000. Savant Capital LLC purchased a new stake in shares of Pioneer Natural Resources in the 4th quarter valued at approximately $208,000. Cetera Advisors LLC purchased a new stake in shares of Pioneer Natural Resources in the 4th quarter valued at approximately $215,000. Finally, Guardian Capital Advisors LP purchased a new stake in shares of Pioneer Natural Resources in the 4th quarter valued at approximately $215,000. 89.36% of the stock is owned by institutional investors.
In other Pioneer Natural Resources news, CAO Margaret Montemayor sold 1,410 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $179.33, for a total transaction of $252,855.30. Following the sale, the chief accounting officer now directly owns 7,586 shares in the company, valued at approximately $1,360,397.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Chris J. Cheatwood sold 9,513 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $175.93, for a total transaction of $1,673,622.09. Following the sale, the executive vice president now owns 42,931 shares in the company, valued at $7,552,850.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,007 shares of company stock worth $3,530,333. 0.89% of the stock is owned by company insiders.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.63. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.39 billion. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The firm’s quarterly revenue was up 48.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. equities analysts predict that Pioneer Natural Resources will post 6.19 earnings per share for the current year.
Pioneer Natural Resources announced that its board has initiated a share buyback program on Tuesday, February 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This is a positive change 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 1.65%.
Several analysts have recently weighed in on the stock. National Alliance Securities raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research note on Monday, February 12th. Citigroup increased their price target on shares of Pioneer Natural Resources from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Jefferies Group reissued a “buy” rating and issued a $235.00 price target on shares of Pioneer Natural Resources in a research note on Monday, March 19th. Credit Suisse Group assumed coverage on shares of Pioneer Natural Resources in a research note on Monday, December 11th. They issued an “outperform” rating and a $192.00 price target for the company. Finally, JPMorgan Chase & Co. set a $185.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-six have given a buy rating to the stock. Pioneer Natural Resources presently has an average rating of “Buy” and an average target price of $211.33.
Pioneer Natural Resources Company Profile
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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