Wedmont Private Capital Has $331,000 Position in Pioneer Natural Resources (NYSE:PXD)

Wedmont Private Capital grew its position in Pioneer Natural Resources (NYSE:PXD – Get Rating) by 20.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,417 shares of the oil and gas development company’s stock after purchasing an additional 239 shares during the quarter. Wedmont Private Capital’s holdings in Pioneer Natural Resources were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PXD. Fairfield Bush & CO. acquired a new position in shares of Pioneer Natural Resources in the 1st quarter valued at approximately $42,000. Cetera Advisor Networks LLC increased its position in Pioneer Natural Resources by 59.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,074 shares of the oil and gas development company’s stock worth $519,000 after purchasing an additional 774 shares in the last quarter. Cetera Investment Advisers increased its position in Pioneer Natural Resources by 52.1% during the 1st quarter. Cetera Investment Advisers now owns 3,249 shares of the oil and gas development company’s stock worth $812,000 after purchasing an additional 1,113 shares in the last quarter. Baird Financial Group Inc. increased its position in Pioneer Natural Resources by 22.6% during the 1st quarter. Baird Financial Group Inc. now owns 108,614 shares of the oil and gas development company’s stock worth $27,157,000 after purchasing an additional 20,023 shares in the last quarter. Finally, Mather Group LLC. increased its position in Pioneer Natural Resources by 35.9% during the 1st quarter. Mather Group LLC. now owns 3,430 shares of the oil and gas development company’s stock worth $858,000 after purchasing an additional 907 shares in the last quarter. 89.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PXD shares. Wells Fargo & Company upgraded shares of Pioneer Natural Resources from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $225.00 to $220.00 in a research report on Thursday, March 2nd. Sanford C. Bernstein lowered their price objective on shares of Pioneer Natural Resources from $283.00 to $241.00 and set an “outperform” rating for the company in a research report on Tuesday, February 28th. Susquehanna lowered their price objective on shares of Pioneer Natural Resources from $286.00 to $266.00 and set a “positive” rating for the company in a research report on Monday, February 27th. Barclays lowered their price objective on shares of Pioneer Natural Resources from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, StockNews.com started coverage on shares of Pioneer Natural Resources in a report on Thursday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Pioneer Natural Resources currently has a consensus rating of “Moderate Buy” and an average price target of $263.68.

Pioneer Natural Resources Trading Down 2.4 %

NYSE:PXD opened at $182.05 on Friday. The firm’s fifty day moving average is $218.31 and its 200-day moving average is $232.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.96. Pioneer Natural Resources has a 52 week low of $177.26 and a 52 week high of $288.46. The firm has a market cap of $42.78 billion, a P/E ratio of 5.86, a P/E/G ratio of 0.96 and a beta of 1.41.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The oil and gas development company reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.83 by $0.08. Pioneer Natural Resources had a net margin of 32.29% and a return on equity of 33.15%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period in the prior year, the firm posted $4.58 EPS. The company’s quarterly revenue was up 18.3% on a year-over-year basis. Equities analysts expect that Pioneer Natural Resources will post 22.67 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Monday, March 6th were paid a $5.58 dividend. This represents a $22.32 dividend on an annualized basis and a dividend yield of 12.26%. The ex-dividend date was Friday, March 3rd. Pioneer Natural Resources’s dividend payout ratio is currently 14.17%.

Pioneer Natural Resources Profile

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Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.