Advisor Partners LLC raised its position in shares of Pioneer Natural Resources (NYSE:PXD) by 43.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,236 shares of the oil and gas development company’s stock after acquiring an additional 1,285 shares during the quarter. Advisor Partners LLC’s holdings in Pioneer Natural Resources were worth $557,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Hawaiian Bank purchased a new position in shares of Pioneer Natural Resources during the third quarter valued at approximately $304,000. Clinton Group Inc. purchased a new position in shares of Pioneer Natural Resources during the third quarter valued at approximately $4,478,000. Oslo Asset Management AS lifted its holdings in shares of Pioneer Natural Resources by 31.0% during the third quarter. Oslo Asset Management AS now owns 176,901 shares of the oil and gas development company’s stock valued at $30,814,000 after purchasing an additional 41,900 shares during the last quarter. South Texas Money Management Ltd. lifted its holdings in shares of Pioneer Natural Resources by 0.4% during the third quarter. South Texas Money Management Ltd. now owns 106,571 shares of the oil and gas development company’s stock valued at $18,564,000 after purchasing an additional 414 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in shares of Pioneer Natural Resources by 40.4% during the third quarter. First Republic Investment Management Inc. now owns 21,322 shares of the oil and gas development company’s stock valued at $3,714,000 after purchasing an additional 6,136 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

In other Pioneer Natural Resources news, CEO Timothy L. Dove sold 4,800 shares of the business’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $134.18, for a total transaction of $644,064.00. Following the completion of the sale, the chief executive officer now directly owns 276,901 shares in the company, valued at approximately $37,154,576.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew F. Cates bought 790 shares of the firm’s stock in a transaction on Thursday, December 27th. The shares were bought at an average price of $124.27 per share, with a total value of $98,173.30. Following the completion of the purchase, the director now owns 13,370 shares in the company, valued at approximately $1,661,489.90. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by insiders.

Shares of PXD opened at $143.01 on Friday. The firm has a market cap of $24.38 billion, a price-to-earnings ratio of 66.21, a P/E/G ratio of 1.34 and a beta of 1.10. The company has a quick ratio of 1.07, a current ratio of 1.20 and a debt-to-equity ratio of 0.19. Pioneer Natural Resources has a 1-year low of $119.08 and a 1-year high of $213.40.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.24 billion. Pioneer Natural Resources had a net margin of 15.98% and a return on equity of 9.47%. The company’s quarterly revenue was up 112.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. Sell-side analysts expect that Pioneer Natural Resources will post 7.11 earnings per share for the current year.

Pioneer Natural Resources announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 13th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas development company to purchase up to 8.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Several equities analysts have recently issued reports on PXD shares. Morgan Stanley reiterated a “buy” rating and set a $234.00 target price (down from $240.00) on shares of Pioneer Natural Resources in a report on Friday, October 12th. Seaport Global Securities lowered shares of Pioneer Natural Resources from a “buy” rating to a “neutral” rating and lowered their target price for the company from $230.00 to $210.00 in a report on Wednesday, October 10th. Ifs Securities upgraded shares of Pioneer Natural Resources from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, November 14th. ValuEngine lowered shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a report on Monday, November 26th. Finally, Stephens started coverage on shares of Pioneer Natural Resources in a report on Thursday, December 6th. They set an “overweight” rating and a $270.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $229.00.

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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.

Further Reading: Why do company’s buyback their stock?

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

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