Canal Capital Management LLC bought a new stake in shares of Pioneer Natural Resources (NYSE:PXD) in the 4th quarter, Holdings Channel reports. The firm bought 1,735 shares of the oil and gas development company’s stock, valued at approximately $228,000.

A number of other institutional investors also recently made changes to their positions in the business. Empire Life Investments Inc. raised its stake in shares of Pioneer Natural Resources by 16.8% during the fourth quarter. Empire Life Investments Inc. now owns 93,529 shares of the oil and gas development company’s stock worth $12,301,000 after acquiring an additional 13,485 shares in the last quarter. Anchor Capital Advisors LLC raised its stake in shares of Pioneer Natural Resources by 127.9% during the fourth quarter. Anchor Capital Advisors LLC now owns 180,609 shares of the oil and gas development company’s stock worth $23,754,000 after acquiring an additional 101,355 shares in the last quarter. Thompson Investment Management Inc. raised its stake in shares of Pioneer Natural Resources by 406.8% during the fourth quarter. Thompson Investment Management Inc. now owns 7,475 shares of the oil and gas development company’s stock worth $983,000 after acquiring an additional 6,000 shares in the last quarter. Pinnacle Financial Partners Inc. raised its stake in shares of Pioneer Natural Resources by 43.1% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 18,725 shares of the oil and gas development company’s stock worth $2,463,000 after acquiring an additional 5,640 shares in the last quarter. Finally, Ashburton Jersey Ltd raised its stake in shares of Pioneer Natural Resources by 34.0% during the fourth quarter. Ashburton Jersey Ltd now owns 3,465 shares of the oil and gas development company’s stock worth $656,000 after acquiring an additional 880 shares in the last quarter. Institutional investors and hedge funds own 87.16% of the company’s stock.

In related news, CEO Timothy L. Dove sold 4,800 shares of the stock in a transaction that occurred on Wednesday, December 19th. The shares were 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 approximately $37,154,576.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew F. Cates bought 790 shares of Pioneer Natural Resources stock in a transaction that occurred on Thursday, December 27th. The stock was purchased at an average cost of $124.27 per share, with a total value of $98,173.30. Following the completion of the acquisition, the director now directly owns 13,370 shares in the company, valued at approximately $1,661,489.90. The disclosure for this purchase can be found here. 0.92% of the stock is owned by corporate insiders.

NYSE PXD opened at $135.71 on Monday. Pioneer Natural Resources has a 52 week low of $119.08 and a 52 week high of $213.40. The stock has a market cap of $23.13 billion, a PE ratio of 62.83, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The company has a quick ratio of 1.07, a current ratio of 1.20 and a debt-to-equity ratio of 0.19.

Pioneer Natural Resources announced that its board has initiated a stock buyback program on Thursday, December 13th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the oil and gas development company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

PXD has been the topic of several research reports. Zacks Investment Research raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and set a $194.00 price target on the stock in a research note on Tuesday, October 16th. Wells Fargo & Co reissued a “market perform” rating and set a $227.00 price target on shares of Pioneer Natural Resources in a research note on Wednesday, October 24th. Oppenheimer reissued a “hold” rating on shares of Pioneer Natural Resources in a research note on Thursday, October 25th. Ifs Securities initiated coverage on shares of Pioneer Natural Resources in a research note on Monday, October 29th. They set an “outperform” rating on the stock. Finally, ValuEngine downgraded shares of Pioneer Natural Resources from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $225.48.

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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.

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

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