Industry News

Carnegie Capital Asset Management LLC Cuts Position in Pioneer Natural Resources (NYSE:PXD)

By August 28, 2019 No Comments

Carnegie Capital Asset Management LLC lowered its stake in Pioneer Natural Resources (NYSE:PXD) by 17.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,566 shares of the oil and gas development company’s stock after selling 1,200 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Pioneer Natural Resources were worth $856,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PXD. Creative Planning increased its stake in shares of Pioneer Natural Resources by 0.8% during the first quarter. Creative Planning now owns 7,227 shares of the oil and gas development company’s stock valued at $1,101,000 after buying an additional 59 shares during the period. Avestar Capital LLC increased its stake in shares of Pioneer Natural Resources by 15.6% during 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. Beese Fulmer Investment Management Inc. increased its stake in shares of Pioneer Natural Resources by 1.2% during the second quarter. Beese Fulmer Investment Management Inc. now owns 6,920 shares of the oil and gas development company’s stock valued at $1,065,000 after buying an additional 80 shares during the period. CWM Advisors LLC increased its stake in shares of Pioneer Natural Resources by 1.4% during the second quarter. CWM Advisors LLC now owns 6,637 shares of the oil and gas development company’s stock valued at $1,021,000 after buying an additional 89 shares during the period. Finally, Intrust Bank NA increased its stake in shares of Pioneer Natural Resources by 5.8% during the first quarter. Intrust Bank NA now owns 1,863 shares of the oil and gas development company’s stock valued at $284,000 after buying an additional 102 shares during the period. Hedge funds and other institutional investors own 85.80% of the company’s stock.

Several research firms have recently issued reports on PXD. TD Securities reduced their target price on Pioneer Natural Resources from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Seaport Global Securities reissued a “buy” rating on shares of Pioneer Natural Resources in a research note on Friday, June 21st. Morgan Stanley reduced their target price on Pioneer Natural Resources from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Wells Fargo & Co upped their price target on Pioneer Natural Resources from $182.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Finally, TheStreet cut Pioneer Natural Resources from a “b-” rating to a “c+” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Pioneer Natural Resources presently has an average rating of “Buy” and a consensus target price of $193.85.

Pioneer Natural Resources stock traded down $2.23 during mid-day trading on Tuesday, hitting $118.02. The company had a trading volume of 1,516,836 shares, compared to its average volume of 1,796,132. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $131.46 and its two-hundred day moving average price is $144.56. Pioneer Natural Resources has a 12 month low of $114.79 and a 12 month high of $189.78. The company has a market capitalization of $20.10 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. Equities research analysts anticipate that Pioneer Natural Resources will post 8.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 27th will be issued 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 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, September 26th. Pioneer Natural Resources’s dividend payout ratio is presently 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.

Further Reading: Earnings Per Share

Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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