Luminus Management LLC Takes $692,000 Position in Pioneer Natural Resources (NYSE:PXD)

Luminus Management LLC purchased a new stake in shares of Pioneer Natural Resources (NYSE:PXD) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,500 shares of the oil and gas development company’s stock, valued at approximately $692,000.

Several other institutional investors have also recently made changes to their positions in PXD. Berman Capital Advisors LLC lifted its holdings in shares of Pioneer Natural Resources by 64.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the oil and gas development company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. HM Payson & Co. acquired a new stake in shares of Pioneer Natural Resources during the 2nd quarter valued at about $53,000. Twin Tree Management LP acquired a new stake in shares of Pioneer Natural Resources during the 1st quarter valued at about $58,000. Foresters Asset Management Inc. lifted its holdings in shares of Pioneer Natural Resources by 35.7% during the 2nd quarter. Foresters Asset Management Inc. now owns 380 shares of the oil and gas development company’s stock valued at $58,000 after buying an additional 100 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in shares of Pioneer Natural Resources by 264.8% during the 2nd quarter. Carroll Financial Associates Inc. now owns 394 shares of the oil and gas development company’s stock valued at $60,000 after buying an additional 286 shares during the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.

NYSE PXD traded up $0.63 during trading on Monday, hitting $126.95. The company’s stock had a trading volume of 431,316 shares, compared to its average volume of 1,663,269. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $127.90 and a 200 day moving average price of $142.93. The firm has a market cap of $21.12 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 0.71 and a beta of 1.14. Pioneer Natural Resources has a 52 week low of $114.79 and a 52 week high of $189.78.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas development company reported $2.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.13. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.32 billion. Pioneer Natural Resources had a return on equity of 10.04% and a net margin of 9.65%. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 EPS. On average, equities analysts expect that Pioneer Natural Resources will post 8.35 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 27th will be given a $0.44 dividend. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.16. This represents a $1.76 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, September 26th. Pioneer Natural Resources’s payout ratio is currently 13.95%.

Several equities research analysts recently weighed in on PXD shares. TD Securities reduced their target price on Pioneer Natural Resources from $165.00 to $145.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. SunTrust Banks reduced their target price on Pioneer Natural Resources to $130.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Piper Jaffray Companies set a $202.00 target price on Pioneer Natural Resources and gave the stock a “buy” rating in a report on Friday, August 16th. TheStreet lowered Pioneer Natural Resources from a “b-” rating to a “c+” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley reduced their target price on Pioneer Natural Resources from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $191.14.

In other Pioneer Natural Resources news, EVP Chris J. Cheatwood sold 5,619 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $140.35, for a total value of $788,626.65. Following the transaction, the executive vice president now directly owns 39,027 shares of the company’s stock, valued at approximately $5,477,439.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director J Kenneth Thompson purchased 500 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $121.01 per share, for a total transaction of $60,505.00. Following the completion of the transaction, the director now owns 13,024 shares in the company, valued at $1,576,034.24. The disclosure for this purchase can be found here. Insiders own 0.91% of the company’s stock.

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 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.

See Also: Capital Gains Distribution

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

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