Pioneer Natural Resources (NYSE:PXD) is Pacer Advisors Inc.’s 6th Largest Position

Pacer Advisors Inc. boosted its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 8.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,412,742 shares of the oil and gas development company’s stock after acquiring an additional 106,744 shares during the quarter. Pioneer Natural Resources accounts for about 1.2% of Pacer Advisors Inc.’s investment portfolio, making the stock its 6th largest holding. Pacer Advisors Inc. owned approximately 0.60% of Pioneer Natural Resources worth $292,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Pioneer Natural Resources by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 4,337,964 shares of the oil and gas development company’s stock valued at $884,893,000 after purchasing an additional 149,026 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Pioneer Natural Resources by 46.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock worth $968,877,000 after buying an additional 1,343,601 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Pioneer Natural Resources by 108.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,469,309 shares of the oil and gas development company’s stock worth $859,012,000 after buying an additional 1,802,353 shares during the period. Northern Trust Corp lifted its holdings in Pioneer Natural Resources by 2.0% in the first quarter. Northern Trust Corp now owns 2,568,917 shares of the oil and gas development company’s stock worth $642,307,000 after buying an additional 51,444 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Pioneer Natural Resources by 16.0% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,915,375 shares of the oil and gas development company’s stock worth $391,196,000 after buying an additional 263,691 shares during the period. 82.72% of the stock is currently owned by hedge funds and other institutional investors.

Pioneer Natural Resources Stock Performance

Pioneer Natural Resources stock traded down $0.86 during mid-day trading on Tuesday, reaching $234.42. 506,733 shares of the stock traded hands, compared to its average volume of 2,128,078. The stock has a market capitalization of $54.65 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.34 and a beta of 1.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.73 and a quick ratio of 0.59. Pioneer Natural Resources has a 12-month low of $177.26 and a 12-month high of $274.70. The business’s 50-day moving average is $229.22 and its 200-day moving average is $214.82.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, August 1st. The oil and gas development company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.12 by $0.37. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.68 billion. Pioneer Natural Resources had a return on equity of 25.53% and a net margin of 28.46%. As a group, sell-side analysts predict that Pioneer Natural Resources will post 20.43 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Wednesday, September 6th will be paid a dividend of $1.84 per share. This represents a $7.36 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, September 5th. Pioneer Natural Resources’s payout ratio is 21.31%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PXD. Stifel Nicolaus increased their price objective on Pioneer Natural Resources from $275.00 to $281.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Raymond James decreased their price objective on Pioneer Natural Resources from $268.00 to $265.00 and set a “strong-buy” rating for the company in a report on Monday, July 24th. Mizuho increased their price objective on Pioneer Natural Resources from $294.00 to $301.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. upgraded shares of Pioneer Natural Resources from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $251.00 to $264.00 in a report on Wednesday, August 16th. Finally, Wells Fargo & Company upped their price objective on shares of Pioneer Natural Resources from $227.00 to $239.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $263.15.

Pioneer Natural Resources Company 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 in the Midland Basin in West Texas. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.