Morse Asset Management Inc lowered its position in Pioneer Natural Resources Company (NYSE:PXD) by 19.5% during the second quarter, Holdings Channel reports. The fund owned 2,040 shares of the oil and gas development company’s stock after selling 495 shares during the period. Morse Asset Management Inc’s holdings in Pioneer Natural Resources were worth $326,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Coconut Grove Bank increased its stake in Pioneer Natural Resources by 103.7% in the first quarter. Coconut Grove Bank now owns 552 shares of the oil and gas development company’s stock worth $103,000 after buying an additional 281 shares during the last quarter. Winch Advisory Services LLC purchased a new stake in Pioneer Natural Resources during the first quarter worth approximately $112,000. Quadrant Capital Group LLC increased its stake in Pioneer Natural Resources by 6.2% in the first quarter. Quadrant Capital Group LLC now owns 615 shares of the oil and gas development company’s stock worth $107,000 after buying an additional 36 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its stake in Pioneer Natural Resources by 3.4% in the first 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 last quarter. Finally, Financial Architects Inc purchased a new stake in Pioneer Natural Resources during the first quarter worth approximately $154,000. Institutional investors and hedge funds own 92.62% of the company’s stock.

Pioneer Natural Resources Company (PXD) opened at 137.55 on Thursday. Pioneer Natural Resources Company has a 12 month low of $128.50 and a 12 month high of $199.83. The stock’s 50 day moving average is $155.77 and its 200 day moving average is $173.31. The company has a market cap of $23.40 billion, a PE ratio of 138.80 and a beta of 0.91.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas development company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.10. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.06 billion. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. The business’s quarterly revenue was up 107.4% on a year-over-year basis. During the same period last year, the business posted ($0.22) EPS. Equities analysts predict that Pioneer Natural Resources Company will post $1.13 earnings per share for the current year.

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A number of research firms have recently commented on PXD. BMO Capital Markets set a $214.00 price objective on Pioneer Natural Resources and gave the stock a “buy” rating in a report on Tuesday. Scotiabank set a $210.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Saturday, July 1st. Capital One Financial Corporation reaffirmed an “overweight” rating on shares of Pioneer Natural Resources in a research report on Wednesday, August 2nd. Stifel Nicolaus set a $236.00 price target on shares of Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Tuesday. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Pioneer Natural Resources in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $211.90.

In other Pioneer Natural Resources news, EVP Chris J. Cheatwood sold 5,749 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $173.79, for a total value of $999,118.71. Following the sale, the executive vice president now directly owns 45,110 shares in the company, valued at approximately $7,839,666.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.92% of the company’s stock.

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

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