Los Angeles Capital Management LLC Lowers Stock Position in Pioneer Natural Resources (NYSE:PXD)

Los Angeles Capital Management LLC lessened its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,175 shares of the oil and gas development company’s stock after selling 1,239 shares during the period. Los Angeles Capital Management LLC’s holdings in Pioneer Natural Resources were worth $4,087,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PXD. Hartford Financial Management Inc. raised its holdings in Pioneer Natural Resources by 61.1% in the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after buying an additional 44 shares during the last quarter. BluePath Capital Management LLC bought a new position in Pioneer Natural Resources in the 3rd quarter valued at approximately $29,000. Carmel Capital Partners LLC purchased a new stake in Pioneer Natural Resources during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp boosted its stake in Pioneer Natural Resources by 85.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. Finally, OLD Second National Bank of Aurora bought a new stake in shares of Pioneer Natural Resources in the 4th quarter worth $34,000. 80.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PXD has been the topic of several recent analyst reports. Stifel Nicolaus increased their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Scotiabank raised their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Susquehanna boosted their target price on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, StockNews.com assumed coverage on Pioneer Natural Resources in a report on Monday, April 29th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $264.10.

Insider Activity

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Christopher L. Washburn sold 1,416 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.95, for a total transaction of $369,505.20. Following the sale, the chief accounting officer now directly owns 4,990 shares in the company, valued at approximately $1,302,140.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the transaction, the director now directly owns 462,112 shares of the company’s stock, valued at approximately $108,711,848. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock worth $9,067,373 over the last quarter. Insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Stock Up 0.7 %

PXD opened at $269.62 on Monday. The stock has a market cap of $63.00 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 0.90. The firm’s fifty day moving average is $258.94 and its 200 day moving average is $240.66. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the firm earned $5.91 earnings per share. Pioneer Natural Resources’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were issued a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 24.70%.

About Pioneer Natural Resources

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.