Tuesday, 22 May, 2018

Channing Capital Management LLC Reduces Position in Pioneer Natural Resources Company (PXD)

Canadian Natural Resource Ltd Canadian Natural Resource Ltd (USA) (NYSE:CNQ) has been upgraded to Hold in a statement by ValuEngine earlier today.
Preston Stone | 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.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece on another website, it was illegally copied and republished in violation of USA and global trademark & copyright law. The correct version of this report can be accessed at https://transcriptdaily.com/2017/08/03/0-16-eps-expected-for-pioneer-natural-resources-company-pxd-this-quarter-updated-updated.html.

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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