James Investment Research Inc. has recently filed its holdings in Pioneer Natural Resources according to its most recent filing with the Securities and Exchange Commission (SEC). The independent oil and gas exploration and production company’s institutional investor lessen its shares by 30.2% during the fourth quarter, while still owning 21,613 shares worth $4,936,000 at the end of the most recent quarter.
Pioneer Natural Resources’ last quarterly earnings data on February 22nd revealed that it posted more than analysts’ estimates. The firm reported $5.91 earnings per share for the quarter versus an expected $5.83 by sell-side analysts, topping it by $0.08. It generated a revenue of $5.11 billion during Q1, compared to an expected $5.59 billion. Its return on equity stood at 33.15%, which indicates the efficiency of generating profits with less investment.
The company has been operational in hydrocarbon exploration in the Cline Shale for more than twenty years now with focused operations in Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects to expand their offerings further.
Operating independently have allowed Pioneer Natural Resources to freely pursue its goals and achieve excellence in their field without having to answer or obey directives from any corporation linked or dependent upon external entities that may influence them negatively.
In summary, despite reducing James Investment Research Inc.’s holdings by over thirty percent; Pioneer Natural Resources continues to exhibit promising signs of growth based on its quarterly report records, suggesting that this independent oil and gas exploration and production company is poised for profitable growth now as well as in future years ahead.
Institutional Investors and Hedge Funds Increase Holdings in Pioneer Natural Resources
Pioneer Natural Resources, an independent oil and gas exploration and production company headquartered in Irving, Texas, recently saw a number of institutional investors and hedge funds modify their holdings of PXD. Newbridge Financial Services Group Inc., Evermay Wealth Management LLC, Cowa LLC, Kistler Tiffany Companies LLC, and Ronald Blue Trust Inc. all acquired new positions in Pioneer Natural Resources over the past few months at around $27,000 per position. As it currently stands, approximately 89.75% of PXD’s stock is owned by these types of investors.
Shares of PXD opened at $223.70 on Monday with a 52 week low of $177.26 and high of $288.46. Its market capitalization is currently at $52.57 billion with a price-to-earnings ratio of 6.70 and a beta of 1.41.
The company focuses primarily on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects along with hydrocarbon exploration in the Cline Shale.
Pioneer Natural Resources’ recent quarterly dividend payout ratio was 14.17%, representing investors’ yield return on an annual basis at approximately 9.98%.
In terms of analyst reports on Pioneer Natural Resources Co., Citigroup upgraded its rating from neutral to buy last month while Sanford C.Bernstein reduced its target price for its “outperform” rating for the company to $241 from $283.
Despite some mixed responses from analysts, Bloomberg.com states that Pioneer Natural Resources holds an overall “Moderate Buy” consensus rating as well as an average price target for shares at $260.26.
