Pekin Hardy Strauss Inc. Sells 734 Shares of Pioneer Natural Resources (NYSE:PXD)

Pekin Hardy Strauss Inc. trimmed its stake in Pioneer Natural Resources (NYSE:PXD) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,532 shares of the oil and gas development company’s stock after selling 734 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Pioneer Natural Resources were worth $2,368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in Pioneer Natural Resources by 25.7% during the third quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock valued at $743,734,000 after acquiring an additional 662,891 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Pioneer Natural Resources during the 3rd quarter valued at $134,558,000. Assenagon Asset Management S.A. grew its stake in Pioneer Natural Resources by 610.6% during the 3rd 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 buying an additional 531,418 shares during the last quarter. International Assets Investment Management LLC increased its position in Pioneer Natural Resources by 20,425.9% during the 4th 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. Finally, Clearbridge Investments LLC boosted its holdings in Pioneer Natural Resources by 7.6% in the third 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. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Insider Activity at Pioneer Natural Resources

In other Pioneer Natural Resources 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 value of $2,352,500.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 owns 462,112 shares of the company’s stock, valued at approximately $108,711,848. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the completion of the transaction, 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. Over the last 90 days, insiders sold 36,766 shares of company stock valued at $9,067,373. 0.55% of the stock is currently owned by insiders.

Pioneer Natural Resources Price Performance

Shares of NYSE:PXD traded down $4.28 during midday trading on Tuesday, reaching $269.32. 2,086,268 shares of the company’s stock traded hands, compared to its average volume of 1,995,323. The company has a market cap of $62.92 billion, a P/E ratio of 13.52 and a beta of 1.31. The company has a fifty day simple moving average of $255.99 and a two-hundred day simple moving average of $240.15. 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 has a 1 year low of $196.74 and a 1 year 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 the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the business earned $5.91 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were given a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.80%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PXD shares. 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. Stifel Nicolaus lifted their price objective on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Scotiabank boosted 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 report on Thursday, April 11th. StockNews.com began coverage on Pioneer Natural Resources in a research report on Monday. They set a “hold” rating for the company. Finally, Susquehanna lifted their price objective on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.