Brighton Jones LLC Raises Holdings in Pioneer Natural Resources (NYSE:PXD)

Brighton Jones LLC increased its position in shares of Pioneer Natural Resources (NYSE:PXD) by 31.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,429 shares of the oil and gas development company’s stock after buying an additional 339 shares during the period. Brighton Jones LLC’s holdings in Pioneer Natural Resources were worth $321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hartford Financial Management Inc. increased its holdings in shares of Pioneer Natural Resources by 61.1% in the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after acquiring an additional 44 shares during the period. BluePath Capital Management LLC purchased a new position in Pioneer Natural Resources in the third quarter valued at about $29,000. Carmel Capital Partners LLC purchased a new position in Pioneer Natural Resources in the third quarter valued at about $34,000. Jones Financial Companies Lllp raised its holdings in Pioneer Natural Resources by 85.0% in the third quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Finally, OLD Second National Bank of Aurora purchased a new stake in shares of Pioneer Natural Resources during the fourth quarter valued at about $34,000. 80.57% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Price Performance

PXD stock opened at $269.62 on Friday. The company has a market capitalization of $62.99 billion, a P/E ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a 12 month low of $196.74 and a 12 month high of $278.83. The firm’s fifty day simple moving average is $258.20 and its 200-day simple moving average is $240.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.91 earnings per share. As a group, equities research analysts forecast that Pioneer Natural Resources will post 22.47 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid 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 3.80%. Pioneer Natural Resources’s payout ratio is 24.70%.

Insider Buying and Selling

In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the transaction, the director now directly owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Phillip A. Gobe sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the sale, the director now owns 11,132 shares in the company, valued at $2,906,787.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the transaction, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock valued at $9,067,373 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

PXD has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of Pioneer Natural Resources in a research note on Monday, April 29th. They set a “hold” rating for the company. Mizuho lifted their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Scotiabank increased their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Stifel Nicolaus boosted their target price on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Finally, Susquehanna upped their target price on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $264.10.

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.