Carmignac Gestion Purchases 292,612 Shares of Pioneer Natural Resources Company (PXD)
Carmignac Gestion increased its position in shares of Pioneer Natural Resources Company (NYSE:PXD) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,028,974 shares of the oil and gas development company’s stock after buying an additional 292,612 shares during the quarter. Pioneer Natural Resources comprises about 3.9% of Carmignac Gestion’s portfolio, making the stock its 6th biggest position. Carmignac Gestion owned approximately 1.78% of Pioneer Natural Resources worth $483,364,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of PXD. Commonwealth Bank of Australia raised its stake in Pioneer Natural Resources by 10.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 690 shares of the oil and gas development company’s stock worth $108,000 after buying an additional 67 shares during the period. BDO Wealth Advisors LLC acquired a new position in Pioneer Natural Resources during the 2nd quarter worth approximately $120,000. Morgan Dempsey Capital Management LLC raised its stake in Pioneer Natural Resources by 3.4% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 792 shares of the oil and gas development company’s stock worth $147,000 after buying an additional 26 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Pioneer Natural Resources during the 1st quarter worth approximately $172,000. Finally, Grove Bank & Trust raised its stake in Pioneer Natural Resources by 112.3% during the 2nd quarter. Grove Bank & Trust now owns 1,172 shares of the oil and gas development company’s stock worth $187,000 after buying an additional 620 shares during the period. 91.57% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Andrew F. Cates bought 350 shares of the business’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $135.37 per share, with a total value of $47,379.50. Following the transaction, the director now owns 14,556 shares in the company, valued at approximately $1,970,445.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Teresa A. Fairbrook sold 880 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $130.49, for a total transaction of $114,831.20. Following the completion of the sale, the vice president now directly owns 7,648 shares of the company’s stock, valued at approximately $997,987.52. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,200 shares of company stock valued at $161,102. 0.89% of the stock is currently owned by insiders.
A number of research analysts recently weighed in on the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $236.00 price target on shares of Pioneer Natural Resources in a research note on Friday, June 2nd. Stifel Nicolaus set a $236.00 price target on Pioneer Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, August 8th. BMO Capital Markets dropped their price target on Pioneer Natural Resources from $240.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, July 14th. Zacks Investment Research raised Pioneer Natural Resources from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, BidaskClub downgraded Pioneer Natural Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. Pioneer Natural Resources has a consensus rating of “Buy” and a consensus target price of $201.35.
Shares of Pioneer Natural Resources Company (PXD) traded up 0.0820% during trading on Tuesday, reaching $146.7800. The company’s stock had a trading volume of 566,145 shares. The firm’s 50-day moving average price is $133.40 and its 200-day moving average price is $162.00. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 148.1130 and a beta of 0.94. Pioneer Natural Resources Company has a one year low of $125.46 and a one year high of $199.83.
Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business earned ($0.22) EPS. The firm’s revenue for the quarter was up 107.4% on a year-over-year basis. On average, equities analysts anticipate that Pioneer Natural Resources Company will post $1.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Thursday, September 28th. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 8.16%.
About Pioneer Natural Resources
Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with 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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