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Envestnet Asset Management Inc. Raises Position in Pioneer Natural Resources (NYSE:PXD)

By August 22, 2019 No Comments

Envestnet Asset Management Inc. grew its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 21.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,089 shares of the oil and gas development company’s stock after purchasing an additional 20,701 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Pioneer Natural Resources worth $18,015,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning raised its stake in Pioneer Natural Resources by 0.8% in the 1st quarter. Creative Planning now owns 7,227 shares of the oil and gas development company’s stock worth $1,101,000 after acquiring an additional 59 shares during the last quarter. Avestar Capital LLC raised its stake in Pioneer Natural Resources by 15.6% in the 1st quarter. Avestar Capital LLC now owns 496 shares of the oil and gas development company’s stock worth $55,000 after acquiring an additional 67 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its stake in Pioneer Natural Resources by 1.2% in the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 6,920 shares of the oil and gas development company’s stock worth $1,065,000 after acquiring an additional 80 shares during the last quarter. Berman Capital Advisors LLC raised its stake in Pioneer Natural Resources by 64.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the oil and gas development company’s stock worth $34,000 after acquiring an additional 87 shares during the last quarter. Finally, CWM Advisors LLC raised its stake in Pioneer Natural Resources by 1.4% in the 2nd quarter. CWM Advisors LLC now owns 6,637 shares of the oil and gas development company’s stock worth $1,021,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.

NYSE PXD opened at $126.60 on Wednesday. The stock has a 50-day simple moving average of $134.76 and a two-hundred day simple moving average of $145.25. The firm has a market capitalization of $20.83 billion, a P/E ratio of 20.06, a PEG ratio of 0.70 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.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas development company reported $2.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.13. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates 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 revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. As a group, analysts forecast that Pioneer Natural Resources will post 8.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 27th will be given a dividend of $0.44 per share. 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 dividend on an annualized basis and a dividend yield of 1.39%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 10.14%.

A number of brokerages recently issued reports on PXD. ValuEngine lowered Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. S&P Equity Research restated an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of Pioneer Natural Resources in a research note on Wednesday, May 8th. Wells Fargo & Co raised their target price 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. Seaport Global Securities restated a “buy” rating on shares of Pioneer Natural Resources in a research note on Friday, June 21st. Finally, TD Securities reduced their target price on Pioneer Natural Resources from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Pioneer Natural Resources presently has an average rating of “Buy” and an average price target of $193.85.

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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