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Cabot Wealth Management Inc. Sells 190 Shares of Pioneer Natural Resources (NYSE:PXD)

By August 25, 2019 No Comments

Cabot Wealth Management Inc. reduced its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 2.2% during the second quarter, HoldingsChannel.com reports. The fund owned 8,616 shares of the oil and gas development company’s stock after selling 190 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Pioneer Natural Resources were worth $1,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Motco raised its stake in shares of Pioneer Natural Resources by 2,542.9% in the first quarter. Motco now owns 185 shares of the oil and gas development company’s stock valued at $28,000 after buying an additional 178 shares during the period. Global Retirement Partners LLC raised its stake in shares of Pioneer Natural Resources by 224.6% in the first quarter. Global Retirement Partners LLC now owns 198 shares of the oil and gas development company’s stock valued at $30,000 after buying an additional 137 shares during the period. Berman Capital Advisors LLC raised its stake in shares of Pioneer Natural Resources by 64.9% in the second quarter. Berman Capital Advisors LLC now owns 221 shares of the oil and gas development company’s stock valued at $34,000 after buying an additional 87 shares during the period. Brand Asset Management Group Inc. raised its stake in shares of Pioneer Natural Resources by 41.2% in the first quarter. Brand Asset Management Group Inc. now owns 497 shares of the oil and gas development company’s stock valued at $47,000 after buying an additional 145 shares during the period. Finally, Avestar Capital LLC raised its stake in shares of Pioneer Natural Resources by 15.6% in the first quarter. Avestar Capital LLC now owns 496 shares of the oil and gas development company’s stock valued at $55,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 85.80% of the company’s stock.

Several analysts have issued reports on the company. S&P Equity Research restated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of Pioneer Natural Resources in a research note on Wednesday, May 8th. Seaport Global Securities restated a “buy” rating on shares of Pioneer Natural Resources in a research note on Friday, June 21st. Piper Jaffray Companies set a $202.00 target price on Pioneer Natural Resources and gave the company a “buy” rating in a research note on Friday, August 16th. TheStreet lowered Pioneer Natural Resources from a “b-” rating to a “c+” rating in a research note on Tuesday, July 23rd. Finally, Imperial Capital lowered their target price on Pioneer Natural Resources from $200.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $193.85.

Shares of NYSE PXD opened at $120.65 on Friday. The stock has a market cap of $21.22 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 0.71 and a beta of 1.08. Pioneer Natural Resources has a fifty-two week low of $114.79 and a fifty-two week high of $189.78. 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 has a fifty day moving average of $133.55 and a 200-day moving average of $144.99.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.13. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. On average, sell-side analysts predict that Pioneer Natural Resources will post 8.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 27th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.16. This represents a $1.76 annualized dividend and a dividend yield of 1.46%. Pioneer Natural Resources’s payout ratio is 10.14%.

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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