Artisan Partners Limited Partnership Grows Stake in Pioneer Natural Resources Company (PXD)

Artisan Partners Limited Partnership lifted its holdings in Pioneer Natural Resources Company (NYSE:PXD) by 34.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,810,190 shares of the oil and gas development company’s stock after acquiring an additional 460,404 shares during the quarter. Artisan Partners Limited Partnership owned 1.06% of Pioneer Natural Resources worth $288,870,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PXD. BlackRock Inc. increased its stake in shares of Pioneer Natural Resources by 2,397.3% in the first quarter. BlackRock Inc. now owns 11,376,848 shares of the oil and gas development company’s stock worth $2,118,708,000 after acquiring an additional 10,921,279 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Pioneer Natural Resources by 706.3% in the second quarter. Ameriprise Financial Inc. now owns 2,006,435 shares of the oil and gas development company’s stock worth $319,475,000 after acquiring an additional 1,757,576 shares during the period. FMR LLC increased its stake in shares of Pioneer Natural Resources by 18.3% in the first quarter. FMR LLC now owns 8,424,493 shares of the oil and gas development company’s stock worth $1,568,894,000 after acquiring an additional 1,304,274 shares during the period. Clearbridge Investments LLC increased its stake in shares of Pioneer Natural Resources by 68,788.6% in the first quarter. Clearbridge Investments LLC now owns 895,552 shares of the oil and gas development company’s stock worth $166,779,000 after acquiring an additional 894,252 shares during the period. Finally, Boston Partners increased its stake in shares of Pioneer Natural Resources by 48.5% in the second quarter. Boston Partners now owns 2,192,806 shares of the oil and gas development company’s stock worth $349,928,000 after acquiring an additional 716,266 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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Several analysts recently commented on the stock. Scotiabank set a $210.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets set a $214.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Tuesday, August 8th. Stifel Nicolaus set a $236.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Cowen and Company restated a “buy” rating and set a $210.00 price target on shares of Pioneer Natural Resources in a research report on Sunday. One research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $204.40.

Pioneer Natural Resources Company (PXD) remained flat at $136.93 during trading on Friday. The stock had a trading volume of 2,246,884 shares. The company has a 50-day moving average price of $134.84 and a 200 day moving average price of $163.19. Pioneer Natural Resources Company has a one year low of $125.46 and a one year high of $199.83. The firm has a market cap of $23.29 billion, a PE ratio of 138.17 and a beta of 0.94.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas development company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Pioneer Natural Resources had a net margin of 3.10% and a return on equity of 1.79%. The firm’s revenue was up 107.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.22) EPS. Analysts expect that Pioneer Natural Resources Company will post $1.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.12%. Pioneer Natural Resources’s payout ratio is 8.16%.

In other Pioneer Natural Resources news, Director J Kenneth Thompson acquired 750 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average cost of $133.40 per share, with a total value of $100,050.00. Following the purchase, the director now owns 10,865 shares in the company, valued at $1,449,391. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew F. Cates acquired 350 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $135.37 per share, for a total transaction of $47,379.50. Following the completion of the purchase, the director now owns 14,556 shares in the company, valued at approximately $1,970,445.72. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,200 shares of company stock worth $161,102. 0.89% of the stock is owned by corporate insiders.

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.

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

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