Pioneer Natural Resources (NYSE:PXD) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC cut its holdings in Pioneer Natural Resources (NYSE:PXD) by 1.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 54,901 shares of the oil and gas development company’s stock after selling 701 shares during the quarter. Pioneer Natural Resources makes up about 1.1% of Clear Harbor Asset Management LLC’s holdings, making the stock its 17th largest holding. Clear Harbor Asset Management LLC’s holdings in Pioneer Natural Resources were worth $12,346,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Pioneer Natural Resources by 0.6% in the 3rd 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 purchasing an additional 113,751 shares during the last quarter. Geode Capital Management LLC grew its position in Pioneer Natural Resources by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 4,337,964 shares of the oil and gas development company’s stock worth $884,893,000 after purchasing an additional 149,026 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Pioneer Natural Resources by 46.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock valued at $968,877,000 after purchasing an additional 1,343,601 shares in the last quarter. Clearbridge Investments LLC raised its holdings 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 worth $748,271,000 after buying an additional 231,470 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 during the period. Institutional investors and hedge funds own 80.57% of the company’s stock.

Insider Transactions at Pioneer Natural Resources

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 49,856 shares in the company, valued at $11,683,753.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director J Kenneth Thompson sold 1,000 shares of the firm’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 value of $250,000.00. Following the transaction, the director now owns 16,070 shares in the company, valued at $4,017,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at $11,683,753.60. 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 three months. 0.57% of the stock is currently owned by company insiders.

Pioneer Natural Resources Stock Performance

PXD traded up $2.50 on Thursday, reaching $262.50. The stock had a trading volume of 2,173,103 shares, compared to its average volume of 2,100,565. The business’s 50-day moving average price is $236.00 and its two-hundred day moving average price is $233.73. The company has a market cap of $61.33 billion, a P/E ratio of 12.97 and a beta of 1.30. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $263.08. 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 (NYSE:PXD) last posted its earnings results 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). 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%. Pioneer Natural Resources’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $5.91 earnings per share. Sell-side analysts forecast that Pioneer Natural Resources will post 20.35 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were given a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PXD shares. StockNews.com assumed coverage on Pioneer Natural Resources in a research report on Thursday. They issued a “hold” rating on the stock. Susquehanna increased their price objective on Pioneer Natural Resources from $237.00 to $246.00 and gave the company a “neutral” rating in a report on Monday, March 4th. UBS Group reduced their price objective on Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, December 14th. Stifel Nicolaus dropped their target price on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating on the stock in a research report on Tuesday, January 23rd. Finally, 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 report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $254.90.

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.