Pioneer Natural Resources (NYSE:PXD) Position Lowered by Doheny Asset Management CA

Doheny Asset Management CA lowered its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,712 shares of the oil and gas development company’s stock after selling 1,282 shares during the period. Pioneer Natural Resources accounts for 3.2% of Doheny Asset Management CA’s investment portfolio, making the stock its 6th largest holding. Doheny Asset Management CA’s holdings in Pioneer Natural Resources were worth $3,308,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PXD. Vanguard Group Inc. lifted its holdings in Pioneer Natural Resources by 0.6% in the third quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company’s stock valued at $4,594,616,000 after acquiring an additional 113,751 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Pioneer Natural Resources by 7.6% in the third quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock valued at $748,271,000 after purchasing an additional 231,470 shares during the period. Bank of New York Mellon Corp boosted its holdings in Pioneer Natural Resources by 25.7% during the third quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after buying an additional 662,891 shares in the last quarter. Northern Trust Corp grew its position in Pioneer Natural Resources by 2.2% during the third quarter. Northern Trust Corp now owns 2,497,868 shares of the oil and gas development company’s stock worth $573,386,000 after buying an additional 54,841 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Pioneer Natural Resources by 7.5% in the third quarter. Ameriprise Financial Inc. now owns 1,923,819 shares of the oil and gas development company’s stock valued at $443,574,000 after buying an additional 134,982 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. StockNews.com started coverage on Pioneer Natural Resources in a report on Monday. They issued a “hold” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $279.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Mizuho lifted their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Scotiabank increased their price objective on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus lifted their target price on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $264.10.

Insider Activity

In other news, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the sale, the director now directly owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock valued at $9,067,373 in the last 90 days. 0.57% of the stock is currently owned by insiders.

Pioneer Natural Resources Price Performance

PXD stock traded up $2.29 during trading on Thursday, hitting $269.95. The stock had a trading volume of 2,326,464 shares, compared to its average volume of 2,049,018. The company’s 50 day moving average price is $257.48 and its two-hundred day moving average price is $240.49. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The stock has a market cap of $63.07 billion, a price-to-earnings ratio of 13.23 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company earned $5.91 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Pioneer Natural Resources will post 22.47 EPS 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. Stockholders of record on Monday, March 4th were paid a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

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.