Pax World Management buys $27.7 Million stake in Pioneer Natural Resources (PXD)

Pioneer Natural Resources (PXD) : Pax World Management scooped up 74,995 additional shares in Pioneer Natural Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 169,145 shares of Pioneer Natural Resources which is valued at $27.7 Million.Pioneer Natural Resources makes up approximately 1.49% of Pax World Management’s portfolio.

Other Hedge Funds, Including , United Capital Financial Advisers reduced its stake in PXD by selling 1,651 shares or 32.85% in the most recent quarter. The Hedge Fund company now holds 3,375 shares of PXD which is valued at $552,116. Pioneer Natural Resources makes up approx 0.01% of United Capital Financial Advisers’s portfolio.Massmutual Trust Co Fsbadv boosted its stake in PXD in the latest quarter, The investment management firm added 96 additional shares and now holds a total of 1,557 shares of Pioneer Natural Resources which is valued at $254,710. Pioneer Natural Resources makes up approx 0.03% of Massmutual Trust Co Fsbadv’s portfolio.Caldwell Orkin Inc reduced its stake in PXD by selling 3,700 shares or 94.87% in the most recent quarter. The Hedge Fund company now holds 200 shares of PXD which is valued at $32,718. Pioneer Natural Resources makes up approx 0.02% of Caldwell Orkin Inc’s portfolio.Rhumbline Advisers boosted its stake in PXD in the latest quarter, The investment management firm added 23,037 additional shares and now holds a total of 232,540 shares of Pioneer Natural Resources which is valued at $37.1 Million. Pioneer Natural Resources makes up approx 0.12% of Rhumbline Advisers’s portfolio.

Pioneer Natural Resources opened for trading at $166.3 and hit $168.5 on the upside on Monday, eventually ending the session at $166.19, with a gain of 1.59% or 2.6 points. The heightened volatility saw the trading volume jump to 13,84,301 shares. Company has a market cap of $27,181 M.

On the company’s financial health, Pioneer Natural Resources reported $-0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $-0.75. The company had revenue of $685.00 million for the quarter, compared to analysts expectations of $752.01 million. The company’s revenue was down -21.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.03 EPS.

Many Wall Street Analysts have commented on Pioneer Natural Resources. Company shares were Reiterated by Wunderlich on Apr 27, 2016 to “Buy”, Firm has raised the Price Target to $ 177 from a previous price target of $128 .Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 183 from a previous price target of $165 .Company shares were Reiterated by Topeka Capital Markets on Apr 26, 2016 to “Buy”, Firm has raised the Price Target to $ 190 from a previous price target of $165 .

Pioneer Natural Resources Company (Pioneer) is an independent oil and gas exploration and production company with operations in the United States. The Company focuses on production of oil natural gas liquid (NGLs) and gas through development drilling production enhancement activities and acquisitions of producing properties. The Company’s properties include Spraberry/Wolfcamp oil field located in West Texas; the liquid-rich Eagle Ford Shale field located in South Texas; Raton gas field located in southern Colorado; the West Panhandle gas and liquids field located in the Texas Panhandle and the Edwards gas field located in South Texas. The Company’s operations include well stimulation and hydraulic fracturing. The Company’s proved reserves include approximately 89 million Bbls (MMBbl) of oil 42 MMBbls of NGLs and 317 billion cubic feet (Bcf) of gas. The Company owns interests in six gas processing plants and eight treating facilities.

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