Van ECK Associates Corp increased its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 1.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,059,939 shares of the oil and gas development company’s stock after purchasing an additional 17,184 shares during the period. Pioneer Natural Resources accounts for 0.9% of Van ECK Associates Corp’s investment portfolio, making the stock its 24th largest position. Van ECK Associates Corp’s holdings in Pioneer Natural Resources were worth $200,583,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of PXD. Bradley Foster & Sargent Inc. CT purchased a new stake in shares of Pioneer Natural Resources in the 2nd quarter valued at about $207,000. Welch & Forbes LLC purchased a new stake in shares of Pioneer Natural Resources in the 2nd quarter valued at about $218,000. Intact Investment Management Inc. purchased a new stake in shares of Pioneer Natural Resources in the 1st quarter valued at about $206,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Pioneer Natural Resources in the 2nd quarter valued at about $227,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Pioneer Natural Resources in the 2nd quarter valued at about $243,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pioneer Natural Resources stock opened at $171.10 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 1.09. The stock has a market cap of $29.77 billion, a PE ratio of 79.21, a PEG ratio of 1.87 and a beta of 0.98. Pioneer Natural Resources has a 12 month low of $127.26 and a 12 month high of $213.40.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Tuesday, August 7th. The oil and gas development company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.08). The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.27 billion. Pioneer Natural Resources had a net margin of 12.23% and a return on equity of 7.29%. research analysts forecast that Pioneer Natural Resources will post 6.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, September 27th. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.04. This represents a $0.64 annualized dividend and a dividend yield of 0.37%. Pioneer Natural Resources’s dividend payout ratio is 14.81%.
Several research firms have weighed in on PXD. Williams Capital reaffirmed a “hold” rating and issued a $226.00 price target on shares of Pioneer Natural Resources in a report on Tuesday, July 31st. Mizuho began coverage on Pioneer Natural Resources in a report on Monday, July 23rd. They issued a “buy” rating and a $259.00 price target on the stock. TheStreet cut Pioneer Natural Resources from a “b-” rating to a “c+” rating in a report on Tuesday, August 7th. TD Securities began coverage on Pioneer Natural Resources in a report on Thursday, July 5th. They issued a “buy” rating and a $240.00 price target on the stock. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Pioneer Natural Resources in a report on Wednesday, July 25th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $232.57.
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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