First Republic Investment Management Inc. Buys 6,136 Shares of Pioneer Natural Resources (PXD)

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First Republic Investment Management Inc. lifted its position in Pioneer Natural Resources (NYSE:PXD) by 40.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,322 shares of the oil and gas development company’s stock after acquiring an additional 6,136 shares during the quarter. First Republic Investment Management Inc.’s holdings in Pioneer Natural Resources were worth $3,714,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PXD. Kiley Juergens Wealth Management LLC increased its position in Pioneer Natural Resources by 159.5% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 768 shares of the oil and gas development company’s stock valued at $133,000 after purchasing an additional 472 shares during the period. Fox Run Management L.L.C. acquired a new stake in Pioneer Natural Resources in the 3rd quarter worth approximately $227,000. Traynor Capital Management Inc. acquired a new stake in Pioneer Natural Resources in the 3rd quarter worth approximately $240,000. Synovus Financial Corp boosted its stake in Pioneer Natural Resources by 146.3% in the 3rd quarter. Synovus Financial Corp now owns 1,389 shares of the oil and gas development company’s stock worth $242,000 after purchasing an additional 825 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Pioneer Natural Resources by 211.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,482 shares of the oil and gas development company’s stock worth $281,000 after purchasing an additional 1,006 shares in the last quarter. Hedge funds and other institutional investors own 87.11% of the company’s stock.

PXD stock opened at $125.08 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.20. Pioneer Natural Resources has a fifty-two week low of $124.47 and a fifty-two week high of $213.40. The company has a market cap of $21.92 billion, a P/E ratio of 20.22, a PEG ratio of 1.48 and a beta of 1.11.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, November 6th. The oil and gas development company reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.38. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.24 billion. Pioneer Natural Resources had a net margin of 15.98% and a return on equity of 9.47%. The firm’s revenue was up 112.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. Analysts anticipate that Pioneer Natural Resources will post 7.14 EPS for the current year.

Pioneer Natural Resources announced that its Board of Directors has authorized a stock buyback program on Thursday, December 13th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas development company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

In other news, CEO Timothy L. Dove sold 4,800 shares of the stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $134.18, for a total value of $644,064.00. Following the completion of the sale, the chief executive officer now directly owns 276,901 shares of the company’s stock, valued at $37,154,576.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

A number of research firms recently commented on PXD. Morgan Stanley lowered their target price on shares of Pioneer Natural Resources from $234.00 to $218.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. Oppenheimer assumed coverage on shares of Pioneer Natural Resources in a research note on Wednesday, October 3rd. They set a “market perform” rating for the company. Seaport Global Securities cut shares of Pioneer Natural Resources from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $210.00 in a research note on Wednesday, October 10th. Wells Fargo & Co restated a “market perform” rating and set a $227.00 price objective on shares of Pioneer Natural Resources in a research note on Wednesday, October 24th. Finally, Zacks Investment Research upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $183.00 price objective for the company in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Pioneer Natural Resources presently has a consensus rating of “Buy” and a consensus price target of $230.32.

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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 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.

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

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