TCG Advisory Services LLC Reduces Stock Holdings in Pioneer Natural Resources (NYSE:PXD)

TCG Advisory Services LLC lowered its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,363 shares of the oil and gas development company’s stock after selling 750 shares during the quarter. TCG Advisory Services LLC’s holdings in Pioneer Natural Resources were worth $3,680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PXD. Sapient Capital LLC bought a new position in Pioneer Natural Resources in the 4th quarter worth $13,908,000. Axxcess Wealth Management LLC raised its stake in shares of Pioneer Natural Resources by 7.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 3,201 shares of the oil and gas development company’s stock worth $720,000 after buying an additional 226 shares during the period. Merit Financial Group LLC lifted its position in shares of Pioneer Natural Resources by 18.7% during the 4th quarter. Merit Financial Group LLC now owns 1,883 shares of the oil and gas development company’s stock valued at $424,000 after buying an additional 297 shares in the last quarter. West Family Investments Inc. grew its stake in shares of Pioneer Natural Resources by 14.7% during the 4th quarter. West Family Investments Inc. now owns 1,033 shares of the oil and gas development company’s stock valued at $232,000 after acquiring an additional 132 shares during the period. Finally, LGT Group Foundation increased its holdings in Pioneer Natural Resources by 5.0% in the 4th quarter. LGT Group Foundation now owns 61,001 shares of the oil and gas development company’s stock worth $13,716,000 after acquiring an additional 2,926 shares in the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Price Performance

PXD remained flat at $269.62 on Friday. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year high of $278.83. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $258.20 and its 200 day moving average price is $240.69. The company has a market cap of $62.99 billion, a P/E ratio of 13.32 and a beta of 1.28.

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). 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 for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.91 EPS. As a group, equities research analysts predict that Pioneer Natural Resources will post 22.47 earnings per share for the current fiscal 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 issued a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 annualized dividend and a dividend yield of 3.80%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PXD shares. Stifel Nicolaus upped their price target on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. StockNews.com assumed coverage on Pioneer Natural Resources in a report on Monday, April 29th. They set 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, April 22nd. Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Finally, Scotiabank upped their price target on 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 research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $264.10.

Insider Buying and Selling

In related news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value of $369,505.20. Following the sale, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Phillip A. Gobe sold 2,000 shares of the company’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 transaction, the director now directly owns 11,132 shares in the company, valued at $2,906,787.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was 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 in the company, valued at approximately $1,302,140.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,766 shares of company stock valued at $9,067,373. 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.