Channing Capital Management LLC Reduces Position in Pioneer Natural Resources Company (PXD)
Channing Capital Management LLC Reduces Position in Pioneer Natural Resources Company (PXD)
Canadian Natural Resource Ltd (USA) (NYSE:CNQ) has been upgraded to Hold in a statement by ValuEngine earlier today.
04 August, 2017, 01:27
Huntington National Bank lowered its position in shares of Pioneer Natural Resources Company (NYSE:PXD) by 36.3% during the second quarter, according to its most recent disclosure with the SEC. The current consensus recommendation provided by covering analysts is 1.70. The business had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.06 billion. Zacks Investment Research cut Pioneer Natural Resources from a "hold" rating to a "sell" rating in a research report on Thursday, July 27th.
Canadian Natural Resources Ltd posted a higher quarterly profit that topped Street estimates and said it would cut capital expenditure for the year by about C$180-million, becoming the latest oil and gas company to do so. Pioneer Natural Resources Company had a negative net margin of 7.20% and a positive return on equity of 1.08%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.06 billion. The stock price dipped -14.71% in three months and declined -19.36% for the last six months trading period. Pioneer Natural Resources Company's revenue for the quarter was up 114.3% compared to the same quarter past year.
A number of equities analysts recently issued reports on the stock. One analyst rating the company a strong buy, eight analysts rating the company a buy, two analysts rating the company a hold, zero analysts rating the company a underperform, and finally zero analysts rating the company a sell with a 12-month price target of $29.67. Royal Bank Of Canada set a $233.00 price target on shares of Pioneer Natural Resources Company and gave the stock a "buy" rating in a research note on Saturday, June 17th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Scotiabank reaffirmed a "buy" rating and set a $245.00 price target on shares of Pioneer Natural Resources in a report on Friday, May 5th.
In other Canadian Natural Resources Limited news, insider Allan E. Frankiw sold 1,500 shares of Canadian Natural Resources Limited stock in a transaction on Monday, May 15th. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of large investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of Canadian Natural Resources Limited by 2,400.0% in the first quarter. 2,542,282 shares of the company's stock were exchanged. Quadrant Capital Group LLC boosted its position in shares of Canadian Natural Resources Limited by 87.1% in the first quarter. Canadian Natural Resources Limited makes up 3.3% of CIBC Asset Management Inc's investment portfolio, making the stock its 7th largest position. Winch Advisory Services LLC purchased a new stake in Pioneer Natural Resources Company during the first quarter valued at approximately $112,000.
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Canadian Natural Resources Limited (TSE:CNQ) opened at 38.59 on Thursday. Finally, Private Advisor Group LLC purchased a new position in Canadian Natural Resources Limited during the first quarter valued at approximately $205,000.
Hedge funds and other institutional investors own 92.34% of the company's stock.
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Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Tuesday, August 1st. The company's stock had a trading volume of 670,535 shares. The firm's 50-day moving average price is $37.62 and its 200 day moving average price is $40.51. Pioneer Natural Resources Company has a 52 week low of $147.21 and a 52 week high of $199.83. The firm's market cap is $24.78 billion.
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