Franklin Resources Inc. Has $28.46 Million Position in Pioneer Natural Resources (NYSE:PXD)

Franklin Resources Inc. lessened its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 1.0% during the 4th quarter, according to its most recent 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 period. Franklin Resources Inc. owned approximately 0.05% of Pioneer Natural Resources worth $28,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PXD. Hartford Financial Management Inc. raised its holdings in shares of Pioneer Natural Resources by 61.1% during the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after acquiring an additional 44 shares during the period. Sachetta LLC acquired a new position in shares of Pioneer Natural Resources during the fourth quarter worth about $27,000. Jones Financial Companies Lllp grew its holdings in shares of Pioneer Natural Resources by 85.0% during the third quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock worth $34,000 after buying an additional 68 shares in the last quarter. OLD Second National Bank of Aurora acquired a new stake in Pioneer Natural Resources in the 4th quarter valued at approximately $34,000. Finally, Criterion Capital Advisors LLC bought a new stake in Pioneer Natural Resources in the 4th quarter valued at approximately $37,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Pioneer Natural Resources Trading Up 0.7 %

Shares of PXD 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. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83. The firm has a market cap of $63.00 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28. The business’s fifty day moving average is $267.71 and its 200-day moving average is $243.53.

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

Insiders Place Their Bets

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $234.35, for a total value of $820,225.00. Following the completion of the transaction, the executive vice president now directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the sale, the chief accounting officer now owns 4,990 shares in the company, valued at approximately $1,302,140.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the completion of the transaction, the executive vice president now directly owns 49,856 shares in the company, valued at $11,683,753.60. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock valued at $9,067,373 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

PXD has been the topic of a number of recent research reports. Scotiabank lifted their price objective on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Mizuho increased their price objective on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. StockNews.com started coverage on Pioneer Natural Resources in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Susquehanna raised their price target on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Pioneer Natural Resources presently has an average rating of “Hold” and an average price target of $264.10.

About Pioneer Natural Resources

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.