Royal London Asset Management Ltd. Lowers Stake in Pioneer Natural Resources (NYSE:PXD)

Royal London Asset Management Ltd. lowered its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,065 shares of the oil and gas development company’s stock after selling 1,851 shares during the period. Royal London Asset Management Ltd.’s holdings in Pioneer Natural Resources were worth $10,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PXD. Ontario Teachers Pension Plan Board purchased a new stake in shares of Pioneer Natural Resources during the 1st quarter valued at $1,355,000. Hodges Capital Management Inc. purchased a new stake in shares of Pioneer Natural Resources during the 1st quarter valued at $206,000. Empire Life Investments Inc. lifted its holdings in shares of Pioneer Natural Resources by 11.5% during the 1st quarter. Empire Life Investments Inc. now owns 104,251 shares of the oil and gas development company’s stock valued at $15,875,000 after purchasing an additional 10,722 shares during the last quarter. S&CO Inc. lifted its holdings in shares of Pioneer Natural Resources by 4.7% during the 1st quarter. S&CO Inc. now owns 124,818 shares of the oil and gas development company’s stock valued at $19,007,000 after purchasing an additional 5,580 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in shares of Pioneer Natural Resources by 80.5% during the 1st quarter. OppenheimerFunds Inc. now owns 100,815 shares of the oil and gas development company’s stock valued at $15,352,000 after purchasing an additional 44,956 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Several analysts have recently commented on PXD shares. Seaport Global Securities reiterated a “buy” rating on shares of Pioneer Natural Resources in a report on Friday, June 21st. TD Securities decreased their price objective on Pioneer Natural Resources from $165.00 to $145.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. TheStreet lowered Pioneer Natural Resources from a “b-” rating to a “c+” rating in a report on Tuesday, July 23rd. S&P Equity Research reiterated an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of Pioneer Natural Resources in a report on Wednesday, May 8th. Finally, Wells Fargo & Co increased their price objective on Pioneer Natural Resources from $182.00 to $190.00 and gave the company an “outperform” rating in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $196.01.

Shares of NYSE PXD traded down $4.00 during mid-day trading on Wednesday, hitting $124.36. The stock had a trading volume of 17,956 shares, compared to its average volume of 1,827,203. 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 stock’s 50 day moving average price is $138.60. Pioneer Natural Resources has a twelve month low of $114.79 and a twelve month high of $189.78. The stock has a market cap of $21.62 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 0.70 and a beta of 1.08.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.13. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.32 billion. Pioneer Natural Resources had a return on equity of 10.04% and a net margin of 9.65%. The firm’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. On average, equities research analysts expect that Pioneer Natural Resources will post 8.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 27th will be given a dividend of $0.44 per share. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.16. This represents a $1.76 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, September 26th. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 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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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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