Franklin Resources Inc. Decreases Holdings in Pioneer Natural Resources (NYSE:PXD)

Franklin Resources Inc. lowered its position in Pioneer Natural Resources (NYSE:PXDFree Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,538 shares of the oil and gas development company’s stock after selling 1,322 shares during the quarter. Franklin Resources Inc.’s holdings in Pioneer Natural Resources were worth $28,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Banco Santander S.A. grew its holdings in shares of Pioneer Natural Resources by 7.1% during the 3rd quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company’s stock valued at $11,847,000 after purchasing an additional 3,438 shares during the last quarter. D.A. Davidson & CO. boosted its position in Pioneer Natural Resources by 5.7% during the fourth quarter. D.A. Davidson & CO. now owns 10,282 shares of the oil and gas development company’s stock valued at $2,312,000 after buying an additional 554 shares during the period. William Blair Investment Management LLC grew its stake in shares of Pioneer Natural Resources by 34.2% during the third quarter. William Blair Investment Management LLC now owns 440,522 shares of the oil and gas development company’s stock valued at $101,122,000 after buying an additional 112,261 shares during the last quarter. Lido Advisors LLC increased its holdings in shares of Pioneer Natural Resources by 60.3% in the third quarter. Lido Advisors LLC now owns 3,154 shares of the oil and gas development company’s stock worth $724,000 after buying an additional 1,187 shares during the period. Finally, BCK Capital Management LP purchased a new position in shares of Pioneer Natural Resources in the fourth quarter worth about $3,132,000. 80.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PXD. StockNews.com started coverage on shares of Pioneer Natural Resources in a report on Thursday. They set a “hold” rating for the company. Susquehanna increased their price objective on Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 target price on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Scotiabank upped their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus lifted their price target on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Pioneer Natural Resources has an average rating of “Hold” and an average price target of $264.10.

Read Our Latest Stock Report on Pioneer Natural Resources

Pioneer Natural Resources Stock Performance

Shares of PXD stock opened at $269.62 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 0.90. The company has a market capitalization of $63.00 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The company’s 50-day moving average is $267.71 and its 200 day moving average is $243.53.

Pioneer Natural Resources (NYSE:PXDGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the business earned $5.91 EPS. Pioneer Natural Resources’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that Pioneer Natural Resources will post 22.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Phillip A. Gobe sold 2,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the transaction, the director now directly owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the sale, the chief accounting officer now directly owns 4,990 shares in the company, valued at approximately $1,302,140.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Phillip A. Gobe sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the transaction, the director now owns 11,132 shares in the company, valued at $2,906,787.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,766 shares of company stock valued at $9,067,373. Corporate insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Profile

(Free Report)

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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.

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

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