SlateStone Wealth LLC Sells 186 Shares of Pioneer Natural Resources (NYSE:PXD)

SlateStone Wealth LLC reduced its position in shares of Pioneer Natural Resources (NYSE:PXD) by 10.8% in the fourth quarter, Holdings Channel reports. The fund owned 1,534 shares of the oil and gas development company’s stock after selling 186 shares during the quarter. SlateStone Wealth LLC’s holdings in Pioneer Natural Resources were worth $345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PXD. Hartford Financial Management Inc. lifted its position in Pioneer Natural Resources by 61.1% in the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after buying an additional 44 shares during the last quarter. BluePath Capital Management LLC bought a new stake in Pioneer Natural Resources in the third quarter worth $29,000. Carmel Capital Partners LLC bought a new stake in Pioneer Natural Resources in the third quarter worth $34,000. Jones Financial Companies Lllp lifted its position in Pioneer Natural Resources by 85.0% in the third quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock worth $34,000 after buying an additional 68 shares during the last quarter. Finally, OLD Second National Bank of Aurora bought a new stake in Pioneer Natural Resources in the fourth quarter worth $34,000. 80.57% of the stock is currently owned by institutional investors.

Insider Activity 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 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 owns 462,112 shares in the company, valued at $108,711,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Mark H. Kleinman sold 3,500 shares of the firm’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 sale, the executive vice president now owns 49,856 shares in the company, valued at $11,683,753.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction 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 owns 462,112 shares in the company, valued at approximately $108,711,848. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,766 shares of company stock worth $9,067,373. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PXD has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday. Susquehanna upped 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 note on Monday. Truist Financial upped their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. StockNews.com started coverage on shares of Pioneer Natural Resources in a research note on Sunday. They issued a “hold” rating on the stock. Finally, Scotiabank upped their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Pioneer Natural Resources presently has an average rating of “Hold” and a consensus price target of $264.10.

Pioneer Natural Resources Stock Performance

Shares of Pioneer Natural Resources stock traded up $1.50 during trading on Tuesday, hitting $275.01. 856,830 shares of the company’s stock were exchanged, compared to its average volume of 1,987,404. 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 business has a 50-day simple moving average of $251.56 and a 200-day simple moving average of $238.90. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83. The stock has a market capitalization of $64.25 billion, a price-to-earnings ratio of 13.60 and a beta of 1.31.

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 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 business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the business earned $5.91 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Pioneer Natural Resources will post 21.5 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a dividend of $2.56 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 annualized dividend and a yield of 3.72%. Pioneer Natural Resources’s dividend 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.