Pittenger & Anderson Inc. Sells 7,600 Shares of Pioneer Natural Resources (NYSE:PXD)

Pittenger & Anderson Inc. lowered its stake in Pioneer Natural Resources (NYSE:PXD) by 20.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,205 shares of the oil and gas development company’s stock after selling 7,600 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Pioneer Natural Resources were worth $6,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its stake in shares of 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 acquiring an additional 43 shares in the last quarter. Naples Global Advisors LLC bought a new position in Pioneer Natural Resources in the third quarter valued at $216,000. Eastern Bank acquired a new stake in Pioneer Natural Resources in the 3rd quarter valued at $645,000. Avior Wealth Management LLC lifted its position in Pioneer Natural Resources by 13.5% during the 3rd quarter. Avior Wealth Management LLC now owns 1,281 shares of the oil and gas development company’s stock worth $294,000 after buying an additional 152 shares in the last quarter. Finally, Meridian Wealth Management LLC boosted its stake in shares of Pioneer Natural Resources by 97.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,422 shares of the oil and gas development company’s stock worth $556,000 after buying an additional 1,196 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PXD. StockNews.com started coverage on Pioneer Natural Resources in a research report on Sunday, April 21st. They issued a “hold” rating on the stock. Susquehanna upped their price objective on Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research note on Monday. Mizuho raised 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 note on Tuesday, March 19th. Truist Financial upped their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $279.00 price objective on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $264.10.

Insider Buying and Selling

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

Pioneer Natural Resources Price Performance

Shares of NYSE PXD traded down $4.81 during midday trading on Friday, reaching $270.34. The company’s stock had a trading volume of 1,277,071 shares, compared to its average volume of 1,983,553. 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 has a market cap of $63.16 billion, a P/E ratio of 13.59 and a beta of 1.31. The business’s 50 day moving average price is $254.41 and its two-hundred day moving average price is $239.67. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share 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 net margin of 25.28% and a return on equity of 22.42%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.91 earnings per share. On average, analysts forecast that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were issued 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 was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) 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.