Central Valley Advisors LLC Takes Position in Pioneer Natural Resources (NYSE:PXD)

Central Valley Advisors LLC bought a new position in shares of Pioneer Natural Resources (NYSE:PXDFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,747 shares of the oil and gas development company’s stock, valued at approximately $1,292,000.

Other hedge funds also recently added to or reduced their stakes in the company. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Pioneer Natural Resources in the third quarter valued at approximately $134,558,000. Assenagon Asset Management S.A. lifted its position in shares of 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 purchasing an additional 531,418 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in shares of Pioneer Natural Resources during the fourth quarter worth $96,372,000. International Assets Investment Management LLC grew its stake in shares of Pioneer Natural Resources by 20,425.9% during the fourth quarter. International Assets Investment Management LLC now owns 302,757 shares of the oil and gas development company’s stock worth $68,084,000 after purchasing an additional 301,282 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in Pioneer Natural Resources in the fourth quarter valued at $61,842,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Pioneer Natural Resources Price Performance

PXD remained flat at $269.62 during trading on Tuesday. The company has a market cap of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 0.90. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The business has a fifty day simple moving average of $265.93 and a 200-day simple moving average of $242.62.

Pioneer Natural Resources (NYSE:PXDGet Free Report) 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 analysts’ consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a return on equity of 21.21% and a net margin of 24.28%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm earned $5.91 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were paid 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 research analysts have recently weighed in on PXD shares. Scotiabank raised their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Stifel Nicolaus boosted 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 report on Tuesday, April 23rd. StockNews.com assumed coverage on shares of Pioneer Natural Resources in a research report on Wednesday, May 15th. They issued a “hold” rating on the stock. Mizuho boosted their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Susquehanna boosted their price target on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $264.10.

Check Out Our Latest Stock Report on Pioneer Natural Resources

Insider Buying and Selling

In related news, CAO Christopher L. Washburn sold 1,416 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 4,990 shares in the company, valued at $1,302,140.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following 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. Insiders have sold 36,766 shares of company stock valued at $9,067,373 over the last quarter. Company insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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