Verition Fund Management LLC reduced its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 34.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,971 shares of the oil and gas development company’s stock after selling 3,634 shares during the quarter. Verition Fund Management LLC’s holdings in Pioneer Natural Resources were worth $1,319,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC grew its holdings in shares of Pioneer Natural Resources by 28,826.7% during the first quarter. Summit Trail Advisors LLC now owns 126,699 shares of the oil and gas development company’s stock worth $127,000 after purchasing an additional 126,261 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Pioneer Natural Resources during the second quarter worth $127,000. Bradley Foster & Sargent Inc. CT bought a new stake in shares of Pioneer Natural Resources during the second quarter worth $207,000. Welch & Forbes LLC bought a new stake in shares of Pioneer Natural Resources during the second quarter worth $218,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in Pioneer Natural Resources in the second quarter valued at about $227,000. Hedge funds and other institutional investors own 88.80% of the company’s stock.

Pioneer Natural Resources stock traded up $1.88 during midday trading on Friday, reaching $173.54. The stock had a trading volume of 1,317,321 shares, compared to its average volume of 1,520,428. Pioneer Natural Resources has a 1-year low of $140.31 and a 1-year high of $213.40. The firm has a market cap of $29.68 billion, a PE ratio of 80.34, a P/E/G ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 1.09.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Tuesday, August 7th. The oil and gas development company reported $1.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.08). The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.27 billion. Pioneer Natural Resources had a net margin of 12.23% and a return on equity of 7.29%. As a group, equities research analysts predict that Pioneer Natural Resources will post 7.04 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.37%. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, September 27th. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 14.81%.

PXD has been the topic of several recent research reports. TD Securities initiated coverage on Pioneer Natural Resources in a report on Thursday, July 5th. They issued a “buy” rating and a $240.00 price target on the stock. Morgan Stanley initiated coverage on Pioneer Natural Resources in a report on Thursday, July 12th. They issued an “overweight” rating and a $240.00 price target on the stock. Robert W. Baird set a $225.00 price target on Pioneer Natural Resources and gave the company a “buy” rating in a report on Friday, July 27th. Zacks Investment Research cut Pioneer Natural Resources from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $245.00 price target on shares of Pioneer Natural Resources in a report on Friday, July 13th. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $231.99.

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.

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

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