New York State Common Retirement Fund Has $94.98 Million Stake in Pioneer Natural Resources (PXD)

New York State Common Retirement Fund lifted its position in Pioneer Natural Resources (NYSE:PXD) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 552,909 shares of the oil and gas development company’s stock after purchasing an additional 29,396 shares during the period. New York State Common Retirement Fund owned about 0.32% of Pioneer Natural Resources worth $94,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Captrust Financial Advisors purchased a new stake in shares of Pioneer Natural Resources in the fourth quarter worth $104,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Pioneer Natural Resources in the fourth quarter worth $129,000. Banco de Sabadell S.A purchased a new stake in shares of Pioneer Natural Resources in the fourth quarter worth $147,000. NuWave Investment Management LLC purchased a new stake in shares of Pioneer Natural Resources in the first quarter worth $177,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Pioneer Natural Resources in the first quarter worth $206,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on the stock. KeyCorp raised their target price on shares of Pioneer Natural Resources from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. MED raised their target price on shares of Pioneer Natural Resources from $220.00 to $223.00 and gave the company an “overweight” rating in a research note on Wednesday. Credit Suisse Group set a $245.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Thursday, May 3rd. Williams Capital set a $202.00 target price on shares of Pioneer Natural Resources and gave the company a “hold” rating in a research note on Thursday, May 3rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $240.00 target price on shares of Pioneer Natural Resources in a research note on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $219.22.

Shares of Pioneer Natural Resources opened at $190.64 on Friday, Marketbeat.com reports. Pioneer Natural Resources has a 52 week low of $125.46 and a 52 week high of $213.40. The firm has a market capitalization of $32.49 billion, a price-to-earnings ratio of 88.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 1.16.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Wednesday, May 2nd. The oil and gas development company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.16. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Pioneer Natural Resources had a net margin of 15.56% and a return on equity of 5.57%. The business’s revenue was up 56.5% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. research analysts expect that Pioneer Natural Resources will post 6.86 EPS for the current fiscal year.

Pioneer Natural Resources announced that its board has initiated a stock buyback program on Tuesday, February 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas development company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

In other news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $212.63, for a total value of $2,126,300.00. Following the completion of the sale, the director now owns 566,894 shares in the company, valued at approximately $120,538,671.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris J. Cheatwood sold 9,513 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $175.93, for a total transaction of $1,673,622.09. Following the completion of the sale, the executive vice president now owns 42,931 shares of the company’s stock, valued at approximately $7,552,850.83. The disclosure for this sale can be found here. Insiders sold a total of 85,138 shares of company stock valued at $17,086,375 in the last 90 days. Company insiders own 0.92% of the company’s stock.

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.

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

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