Pioneer Natural Resources (PXD) Position Reduced by SeaBridge Investment Advisors LLC
SeaBridge Investment Advisors LLC lowered its position in Pioneer Natural Resources (NYSE:PXD) by 2.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,214 shares of the oil and gas development company’s stock after selling 1,008 shares during the period. Pioneer Natural Resources comprises 1.5% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 21st largest position. SeaBridge Investment Advisors LLC’s holdings in Pioneer Natural Resources were worth $6,185,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its stake in Pioneer Natural Resources by 6.2% in the first quarter. Quadrant Capital Group LLC now owns 615 shares of the oil and gas development company’s stock worth $107,000 after buying an additional 36 shares during the period. LBA Wealth Management LLC boosted its stake in Pioneer Natural Resources by 44.2% in the fourth quarter. LBA Wealth Management LLC now owns 750 shares of the oil and gas development company’s stock worth $135,000 after buying an additional 230 shares during the period. Massey Quick & Co. LLC purchased a new stake in Pioneer Natural Resources during the fourth quarter worth approximately $143,000. Teza Capital Management LLC purchased a new stake in Pioneer Natural Resources during the fourth quarter worth approximately $203,000. Finally, Fulton Bank N.A. purchased a new stake in Pioneer Natural Resources during the first quarter worth approximately $212,000. Institutional investors and hedge funds own 93.86% of the company’s stock.
Pioneer Natural Resources (NYSE:PXD) traded down 1.30% during midday trading on Tuesday, reaching $180.63. The company had a trading volume of 1,405,425 shares. The company’s 50 day moving average is $186.29 and its 200-day moving average is $184.59. The company’s market capitalization is $30.67 billion. Pioneer Natural Resources has a 52-week low of $146.08 and a 52-week high of $199.83.
Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Tuesday, February 7th. The oil and gas development company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.16. Pioneer Natural Resources had a negative net margin of 14.56% and a negative return on equity of 0.33%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company posted ($0.18) earnings per share. Pioneer Natural Resources’s revenue was up 8.8% on a year-over-year basis. Equities analysts expect that Pioneer Natural Resources will post $1.90 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 12th. Shareholders of record on Friday, March 31st were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $0.16 dividend on an annualized basis and a yield of 0.09%. Pioneer Natural Resources’s dividend payout ratio is currently -2.35%.
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A number of analysts have recently commented on the company. Zacks Investment Research cut Pioneer Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Williams Capital cut Pioneer Natural Resources from a “buy” rating to a “hold” rating and cut their target price for the stock from $226.00 to $206.00 in a research report on Tuesday, January 24th. KLR Group reiterated a “buy” rating and set a $273.00 target price (up previously from $254.00) on shares of Pioneer Natural Resources in a research report on Thursday, February 9th. Jefferies Group LLC reiterated a “buy” rating and set a $245.00 target price (up previously from $224.00) on shares of Pioneer Natural Resources in a research report on Monday, February 13th. Finally, Mitsubishi UFJ Financial Group cut Pioneer Natural Resources from an “overweight” rating to a “neutral” rating in a research report on Friday, January 20th. Four investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $207.51.
In other Pioneer Natural Resources news, EVP Mark Stephen Berg sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the executive vice president now owns 52,719 shares in the company, valued at $10,239,084.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark H. Kleinman sold 1,758 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $186.24, for a total transaction of $327,409.92. Following the completion of the sale, the senior vice president now owns 17,201 shares in the company, valued at approximately $3,203,514.24. The disclosure for this sale can be found here. Insiders sold 8,358 shares of company stock worth $1,614,482 in the last three months. 0.92% of the stock is currently owned by corporate insiders.
Pioneer Natural Resources Company Profile
Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado and the West Panhandle field in the Texas Panhandle.
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