Pioneer Natural Resources (NYSE:PXD) Stock Holdings Reduced by Clearstead Trust LLC

Clearstead Trust LLC reduced its position in Pioneer Natural Resources (NYSE:PXD) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,220 shares of the oil and gas development company’s stock after selling 134 shares during the period. Clearstead Trust LLC’s holdings in Pioneer Natural Resources were worth $499,000 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 the company. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Pioneer Natural Resources in the third quarter valued at approximately $134,558,000. Assenagon Asset Management S.A. boosted its holdings 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 in the last quarter. International Assets Investment Management LLC raised its holdings in Pioneer Natural Resources by 20,425.9% during the fourth quarter. International Assets Investment Management LLC now owns 302,757 shares of the oil and gas development company’s stock valued at $68,084,000 after buying an additional 301,282 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Pioneer Natural Resources by 7.6% during the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock worth $748,271,000 after acquiring an additional 231,470 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Pioneer Natural Resources by 31.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 778,839 shares of the oil and gas development company’s stock valued at $178,782,000 after acquiring an additional 184,186 shares during the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PXD shares. StockNews.com started coverage on Pioneer Natural Resources in a report on Monday, April 29th. They set a “hold” rating on the stock. Susquehanna boosted their target price on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Mizuho raised their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Scotiabank boosted their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Finally, Truist Financial upped their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $264.10.

Insider Transactions at Pioneer Natural Resources

In related news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the sale, the director now owns 462,112 shares of the company’s stock, valued at approximately $108,711,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 462,112 shares in the company, valued at approximately $108,711,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott D. Sheffield sold 7,500 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $252.33, for a total transaction of $1,892,475.00. Following the completion of the transaction, the director now directly owns 447,112 shares in the company, valued at approximately $112,819,770.96. 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 three months. 0.57% of the stock is currently owned by corporate insiders.

Pioneer Natural Resources Price Performance

Shares of NYSE:PXD remained flat at $269.62 during midday trading on Friday. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The business’s 50-day moving average is $258.94 and its 200 day moving average is $240.84. 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 (NYSE:PXD) last issued 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 company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. Pioneer Natural Resources’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $5.91 EPS. As a group, equities research analysts expect that Pioneer Natural Resources will post 22.47 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s payout ratio is presently 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.