Obermeyer Wood Investment Counsel Lllp Invests $243,000 in Pioneer Natural Resources (NYSE:PXD)

Obermeyer Wood Investment Counsel Lllp purchased a new position in shares of Pioneer Natural Resources (NYSE:PXD) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,081 shares of the oil and gas development company’s stock, valued at approximately $243,000.

Other hedge funds have also modified their holdings of the company. Xponance Inc. boosted its holdings in Pioneer Natural Resources by 3.0% during the 4th quarter. Xponance Inc. now owns 29,487 shares of the oil and gas development company’s stock valued at $6,631,000 after acquiring an additional 849 shares during the period. OLD Second National Bank of Aurora purchased a new position in Pioneer Natural Resources during the 4th quarter valued at about $34,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in Pioneer Natural Resources by 68.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 366 shares of the oil and gas development company’s stock valued at $82,000 after purchasing an additional 149 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Pioneer Natural Resources by 6.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 21,044 shares of the oil and gas development company’s stock valued at $4,732,000 after purchasing an additional 1,249 shares in the last quarter. Finally, Crescent Grove Advisors LLC raised its position in Pioneer Natural Resources by 16.9% in the 4th quarter. Crescent Grove Advisors LLC now owns 2,163 shares of the oil and gas development company’s stock valued at $486,000 after purchasing an additional 312 shares in the last quarter. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

Pioneer Natural Resources Price Performance

PXD stock traded up $4.60 during midday trading on Friday, hitting $272.57. 615,744 shares of the stock were exchanged, compared to its average volume of 1,970,583. The stock’s 50-day moving average price is $249.82 and its 200-day moving average price is $237.91. The stock has a market cap of $63.68 billion, a price-to-earnings ratio of 13.25 and a beta of 1.31. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83. 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 issued its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The firm 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 firm posted $5.91 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts predict that Pioneer Natural Resources will post 21.15 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors 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 annualized dividend and a yield of 3.76%. Pioneer Natural Resources’s payout ratio is currently 24.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus reduced their price target 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. Royal Bank of Canada reaffirmed 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. Susquehanna increased their price target on Pioneer Natural Resources from $237.00 to $246.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Truist Financial increased their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Finally, StockNews.com assumed coverage on Pioneer Natural Resources in a research report on Saturday, April 13th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Pioneer Natural Resources has a consensus rating of “Hold” and a consensus target price of $259.00.

Insider Buying and Selling at Pioneer Natural Resources

In related news, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $235.25, for a total value of $2,352,500.00. Following the transaction, the director now owns 462,112 shares in the company, valued at $108,711,848. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $108,711,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher L. Washburn sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value of $369,505.20. Following the sale, the chief accounting officer now owns 4,990 shares in the company, valued at approximately $1,302,140.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,766 shares of company stock valued at $9,067,373. Company insiders own 0.57% of the company’s stock.

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.