Hancock Whitney Corp cut its stake in Pioneer Natural Resources (NYSE:PXD) by 20.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,018 shares of the oil and gas development company’s stock after selling 789 shares during the quarter. Hancock Whitney Corp’s holdings in Pioneer Natural Resources were worth $397,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Pioneer Natural Resources by 6.5% during the 4th quarter. Legal & General Group Plc now owns 792,977 shares of the oil and gas development company’s stock worth $104,293,000 after acquiring an additional 48,348 shares during the period. Worldquant Millennium Quantitative Strategies LLC bought a new stake in Pioneer Natural Resources during the 4th quarter worth approximately $2,117,000. Municipal Employees Retirement System of Michigan bought a new stake in Pioneer Natural Resources during the 4th quarter worth approximately $594,000. Nuveen Asset Management LLC bought a new stake in Pioneer Natural Resources during the 4th quarter worth approximately $546,000. Finally, Candriam Luxembourg S.C.A. raised its stake in Pioneer Natural Resources by 22.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 27,878 shares of the oil and gas development company’s stock worth $3,666,000 after acquiring an additional 5,085 shares during the period. 89.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the stock. Mizuho cut shares of Pioneer Natural Resources from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $206.00 to $158.00 in a research note on Tuesday, March 19th. Barclays restated a “buy” rating and set a $217.00 target price on shares of Pioneer Natural Resources in a research note on Wednesday, April 10th. Morgan Stanley set a $185.00 target price on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, January 29th. MKM Partners set a $189.00 price objective on shares of Pioneer Natural Resources and gave the company a “buy” rating in a report on Friday, February 15th. Finally, TD Securities lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating and cut their price objective for the company from $185.00 to $165.00 in a report on Friday, February 15th. Six analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Pioneer Natural Resources has an average rating of “Buy” and a consensus target price of $210.91.
Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Wednesday, February 13th. The oil and gas development company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.30). Pioneer Natural Resources had a return on equity of 9.25% and a net margin of 10.40%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the business posted $1.22 earnings per share. The firm’s revenue for the quarter was up 75.4% compared to the same quarter last year. Analysts predict that Pioneer Natural Resources will post 7.55 EPS for the current fiscal year.
The firm also recently announced a semiannual dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.32 per share. This represents a dividend yield of 0.45%. This is an increase from Pioneer Natural Resources’s previous semiannual dividend of $0.16. The ex-dividend date was Thursday, March 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is 10.14%.
About Pioneer Natural Resources
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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