Foster & Motley Inc. Reduces Holdings in Pioneer Natural Resources (NYSE:PXD)

Foster & Motley Inc. cut its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 4.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,747 shares of the oil and gas development company’s stock after selling 135 shares during the period. Foster & Motley Inc.’s holdings in Pioneer Natural Resources were worth $618,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PXD. IFP Advisors Inc lifted its holdings in Pioneer Natural Resources by 3.1% during the 3rd quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock worth $330,000 after buying an additional 43 shares in the last quarter. Naples Global Advisors LLC purchased a new stake in shares of Pioneer Natural Resources in the 3rd quarter valued at approximately $216,000. Eastern Bank purchased a new stake in shares of Pioneer Natural Resources in the 3rd quarter valued at approximately $645,000. Avior Wealth Management LLC increased its position in shares of Pioneer Natural Resources by 13.5% in the 3rd quarter. Avior Wealth Management LLC now owns 1,281 shares of the oil and gas development company’s stock valued at $294,000 after purchasing an additional 152 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its position in shares of Pioneer Natural Resources by 97.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 2,422 shares of the oil and gas development company’s stock valued at $556,000 after purchasing an additional 1,196 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pioneer Natural Resources

In related news, Director Phillip A. Gobe sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the sale, the director now owns 11,132 shares in the company, valued at $2,906,787.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Phillip A. Gobe sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the sale, the director now directly owns 11,132 shares in the company, valued at $2,906,787.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction 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. In the last quarter, insiders sold 36,766 shares of company stock worth $9,067,373. Company insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Trading Up 0.6 %

Shares of Pioneer Natural Resources stock opened at $275.12 on Wednesday. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year high of $278.83. The company has a market capitalization of $64.27 billion, a P/E ratio of 13.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. The company’s fifty day moving average is $252.53 and its two-hundred day moving average is $239.17.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results 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 return on equity of 22.42% and a net margin of 25.28%. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business posted $5.91 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Analysts forecast that Pioneer Natural Resources will post 21.66 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. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Analysts Set New Price Targets

A number of brokerages have commented on PXD. Stifel Nicolaus increased their price objective on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research report on Tuesday. Truist Financial increased their price objective on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research report on Friday, April 5th. 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 report on Thursday, April 11th. StockNews.com began coverage on shares of Pioneer Natural Resources in a research report on Sunday. They issued a “hold” rating on the stock. Finally, Mizuho increased their target price on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Two research 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 company has an average rating of “Hold” and a consensus target price of $264.10.

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.