Pioneer Natural Resources (NYSE:PXD) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC cut its position in Pioneer Natural Resources (NYSE:PXD) by 6.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,729 shares of the oil and gas development company’s stock after selling 271 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Pioneer Natural Resources were worth $839,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Pioneer Natural Resources in the fourth quarter valued at $1,089,000. Golden State Equity Partners boosted its holdings in Pioneer Natural Resources by 5.9% in the fourth quarter. Golden State Equity Partners now owns 5,342 shares of the oil and gas development company’s stock valued at $1,201,000 after purchasing an additional 296 shares during the period. Kovack Advisors Inc. boosted its holdings in Pioneer Natural Resources by 161.5% in the fourth quarter. Kovack Advisors Inc. now owns 5,312 shares of the oil and gas development company’s stock valued at $1,195,000 after purchasing an additional 3,281 shares during the period. Bryn Mawr Capital Management LLC purchased a new position in Pioneer Natural Resources in the fourth quarter valued at $529,000. Finally, Syon Capital LLC boosted its holdings in Pioneer Natural Resources by 40.7% in the fourth quarter. Syon Capital LLC now owns 3,352 shares of the oil and gas development company’s stock valued at $754,000 after purchasing an additional 969 shares during the period. 80.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on PXD. Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Susquehanna lifted their target price on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $279.00 target price on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Stifel Nicolaus lifted their price target on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, Scotiabank lifted their price target on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. 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 stock. According to MarketBeat, Pioneer Natural Resources currently has a consensus rating of “Hold” and an average price target of $264.10.

Pioneer Natural Resources Stock Performance

PXD stock traded down $6.28 during trading on Friday, hitting $268.87. The company had a trading volume of 2,059,204 shares, compared to its average volume of 1,564,386. The firm has a market cap of $62.81 billion, a PE ratio of 13.28 and a beta of 1.31. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The firm has a 50-day moving average price of $255.15 and a 200-day moving average price of $239.92. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly 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). The company had revenue of $5.22 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $5.91 EPS. On average, analysts expect that Pioneer Natural Resources will post 22.47 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a $2.56 dividend. This represents a $10.24 annualized dividend and a yield of 3.81%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Insider Activity at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the business’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 transaction, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pioneer Natural Resources news, 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 transaction, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the business’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 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 disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock worth $9,067,373 in the last quarter. Company insiders own 0.57% of the company’s stock.

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.