Perigon Wealth Management LLC Makes New $256,000 Investment in Pioneer Natural Resources (NYSE:PXD)

Perigon Wealth Management LLC acquired a new position in shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,183 shares of the oil and gas development company’s stock, valued at approximately $256,000.

Other institutional investors have also recently bought and sold shares of the company. Cowa LLC acquired a new position in Pioneer Natural Resources during the third quarter worth $27,000. Kistler Tiffany Companies LLC purchased a new stake in shares of Pioneer Natural Resources in the third quarter valued at about $27,000. Evermay Wealth Management LLC raised its holdings in shares of Pioneer Natural Resources by 48.2% in the third quarter. Evermay Wealth Management LLC now owns 123 shares of the oil and gas development company’s stock valued at $27,000 after purchasing an additional 40 shares during the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of Pioneer Natural Resources by 84.1% in the third quarter. Ronald Blue Trust Inc. now owns 127 shares of the oil and gas development company’s stock valued at $29,000 after purchasing an additional 58 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Pioneer Natural Resources by 106.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 169 shares of the oil and gas development company’s stock valued at $37,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 89.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PXD. Susquehanna lowered their target price on shares of Pioneer Natural Resources from $286.00 to $266.00 and set a “positive” rating for the company in a report on Monday, February 27th. Citigroup lowered their target price on shares of Pioneer Natural Resources from $232.00 to $193.00 in a report on Friday. Tudor, Pickering, Holt & Co. upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating in a report on Monday, February 27th. Morgan Stanley reduced their price target on shares of Pioneer Natural Resources from $261.00 to $247.00 and set an “underweight” rating for the company in a research report on Tuesday, January 24th. Finally, KeyCorp reduced their price target on shares of Pioneer Natural Resources from $290.00 to $260.00 and set an “overweight” rating for the company in a research report on Thursday, December 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pioneer Natural Resources has an average rating of “Moderate Buy” and a consensus target price of $263.68.

Pioneer Natural Resources Trading Down 2.4 %

Shares of Pioneer Natural Resources stock opened at $182.05 on Friday. Pioneer Natural Resources has a 12-month low of $177.26 and a 12-month high of $288.46. The company has a market cap of $42.78 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 0.94 and a beta of 1.41. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $218.31 and its 200-day moving average price is $232.22.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The oil and gas development company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.83 by $0.08. Pioneer Natural Resources had a net margin of 32.29% and a return on equity of 33.15%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the prior year, the firm posted $4.58 earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, equities analysts expect that Pioneer Natural Resources will post 22.67 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Monday, March 6th were issued a $5.58 dividend. This represents a $22.32 dividend on an annualized basis and a dividend yield of 12.26%. The ex-dividend date was Friday, March 3rd. Pioneer Natural Resources’s payout ratio is 14.17%.

Pioneer Natural Resources Profile

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Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.