Clarius Group LLC Cuts Stake in Pioneer Natural Resources (NYSE:PXD)

Clarius Group LLC reduced its stake in Pioneer Natural Resources (NYSE:PXD) by 8.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,118 shares of the oil and gas development company’s stock after selling 101 shares during the quarter. Clarius Group LLC’s holdings in Pioneer Natural Resources were worth $251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PXD. T. Rowe Price Investment Management Inc. lifted its stake in Pioneer Natural Resources by 46.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock worth $968,877,000 after acquiring an additional 1,343,601 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of Pioneer Natural Resources by 75,598.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 996,195 shares of the oil and gas development company’s stock valued at $227,521,000 after buying an additional 994,879 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Pioneer Natural Resources by 25.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock valued at $743,734,000 after buying an additional 662,891 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Pioneer Natural Resources in the 3rd quarter worth approximately $134,558,000. Finally, Assenagon Asset Management S.A. increased its position in Pioneer Natural Resources by 610.6% in the third quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock worth $141,965,000 after purchasing an additional 531,418 shares during the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PXD shares. Scotiabank upped their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Mizuho raised their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Stifel Nicolaus lowered their price objective on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a research report on Tuesday, January 23rd. Truist Financial raised their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, 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. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Pioneer Natural Resources has a consensus rating of “Hold” and a consensus target price of $259.00.

Pioneer Natural Resources Trading Down 0.7 %

PXD stock opened at $269.01 on Tuesday. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. The business’s 50-day moving average is $247.51 and its 200 day moving average is $237.22. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. The stock has a market cap of $62.85 billion, a price-to-earnings ratio of 13.29 and a beta of 1.31.

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

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a dividend of $2.56 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a yield of 3.81%. Pioneer Natural Resources’s payout ratio is presently 24.70%.

Insider Activity at Pioneer Natural Resources

In other news, Director J Kenneth Thompson sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the transaction, the director now directly owns 16,070 shares in the company, valued at approximately $4,017,500. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Scott D. Sheffield sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the completion of the sale, the director now owns 462,112 shares of the company’s stock, valued at $108,711,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Kenneth Thompson sold 1,000 shares of Pioneer Natural Resources stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the transaction, the director now directly owns 16,070 shares in the company, valued at $4,017,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,766 shares of company stock valued at $9,067,373. Corporate insiders own 0.55% of the company’s stock.

Pioneer Natural Resources 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.