NewEdge Wealth LLC Sells 3,872 Shares of Pioneer Natural Resources (NYSE:PXD)

NewEdge Wealth LLC lessened its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 25.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,406 shares of the oil and gas development company’s stock after selling 3,872 shares during the quarter. NewEdge Wealth LLC’s holdings in Pioneer Natural Resources were worth $2,565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fairfield Bush & CO. bought a new stake in shares of Pioneer Natural Resources in the first quarter worth $42,000. Cetera Advisor Networks LLC grew its stake in shares of Pioneer Natural Resources by 59.5% in the first 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 during the last quarter. Cetera Investment Advisers grew its stake in shares of Pioneer Natural Resources by 52.1% in the first 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 during the last quarter. Baird Financial Group Inc. grew its stake in shares of Pioneer Natural Resources by 22.6% in the first 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 during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Pioneer Natural Resources by 35.9% in the first 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 during the last quarter. Institutional investors own 80.57% of the company’s stock.

Insider Buying and Selling

In related news, Director Phillip A. Gobe sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the sale, the director now owns 11,132 shares in the company, valued at approximately $2,906,787.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the sale, the director now directly owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the sale, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock worth $9,067,373 in the last quarter. Insiders own 0.57% of the company’s stock.

Pioneer Natural Resources Price Performance

Shares of NYSE PXD opened at $270.80 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The firm has a market capitalization of $63.26 billion, a P/E ratio of 13.38 and a beta of 1.31. The firm’s 50-day moving average price is $246.65 and its 200-day moving average price is $236.95.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the company earned $5.91 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Pioneer Natural Resources will post 20.88 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were issued a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.78%. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

Analyst Ratings Changes

Several analysts recently weighed in on PXD shares. Stifel Nicolaus reduced their price objective on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating on the stock in a research note on Tuesday, January 23rd. Susquehanna boosted their price objective on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Mizuho boosted their target price on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. StockNews.com initiated coverage on shares of Pioneer Natural Resources in a report on Saturday. They issued a “hold” rating on the stock. Finally, Scotiabank boosted their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $259.00.

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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.