Canada Pension Plan Investment Board Increases Holdings in Pioneer Natural Resources (NYSE:PXD)

Canada Pension Plan Investment Board raised its stake in shares of Pioneer Natural Resources (NYSE:PXDFree Report) by 176.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,742 shares of the oil and gas development company’s stock after buying an additional 64,332 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Pioneer Natural Resources were worth $23,125,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. BluePath Capital Management LLC purchased a new position in shares of Pioneer Natural Resources in the third quarter worth $29,000. Ancora Advisors LLC raised its stake in shares of Pioneer Natural Resources by 77.4% in the first quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock worth $30,000 after purchasing an additional 65 shares during the last quarter. DecisionPoint Financial LLC purchased a new position in shares of Pioneer Natural Resources in the second quarter worth $34,000. Carmel Capital Partners LLC purchased a new position in shares of Pioneer Natural Resources in the third quarter worth $34,000. Finally, Dividend Assets Capital LLC purchased a new position in shares of Pioneer Natural Resources in the second quarter worth $37,000. Hedge funds and other institutional investors own 82.72% of the company’s stock.

Pioneer Natural Resources Stock Performance

NYSE PXD opened at $227.22 on Monday. The firm has a market cap of $53.01 billion, a price-to-earnings ratio of 10.85 and a beta of 1.31. The company has a quick ratio of 0.70, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $225.78 and a 200-day moving average price of $232.22. Pioneer Natural Resources has a twelve month low of $177.26 and a twelve month high of $257.76.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PXD. Mizuho decreased their price target on Pioneer Natural Resources from $301.00 to $264.00 and set a “buy” rating for the company in a research note on Wednesday, January 3rd. Argus cut Pioneer Natural Resources from a “buy” rating to a “sell” rating in a research report on Friday, November 24th. StockNews.com assumed coverage on Pioneer Natural Resources in a research report on Friday. They set a “hold” rating for the company. Sanford C. Bernstein cut Pioneer Natural Resources from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $273.00 to $246.00 in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus reduced their price objective on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $254.19.

Check Out Our Latest Stock Analysis on PXD

Insider Transactions at Pioneer Natural Resources

In related news, Director Maria S. Dreyfus sold 10,632 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $226.62, for a total value of $2,409,423.84. Following the sale, the director now directly owns 4,066 shares in the company, valued at $921,436.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

About Pioneer Natural Resources

(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. Pioneer Natural Resources 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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