Sigma Planning Corp Sells 4,461 Shares of Pioneer Natural Resources (NYSE:PXD)

Sigma Planning Corp lessened its stake in Pioneer Natural Resources (NYSE:PXD) by 55.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,583 shares of the oil and gas development company’s stock after selling 4,461 shares during the period. Sigma Planning Corp’s holdings in Pioneer Natural Resources were worth $806,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Criterion Capital Advisors LLC bought a new position in Pioneer Natural Resources during the fourth quarter worth about $37,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Pioneer Natural Resources by 20.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,247 shares of the oil and gas development company’s stock worth $5,678,000 after purchasing an additional 4,260 shares during the period. Signaturefd LLC lifted its stake in Pioneer Natural Resources by 7.7% during the fourth quarter. Signaturefd LLC now owns 7,384 shares of the oil and gas development company’s stock worth $1,661,000 after purchasing an additional 529 shares during the period. Lindbrook Capital LLC lifted its stake in Pioneer Natural Resources by 7.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,101 shares of the oil and gas development company’s stock worth $248,000 after purchasing an additional 74 shares during the period. Finally, abrdn plc lifted its stake in Pioneer Natural Resources by 52.4% during the fourth quarter. abrdn plc now owns 103,403 shares of the oil and gas development company’s stock worth $23,253,000 after purchasing an additional 35,546 shares during the period. Institutional investors own 80.57% of the company’s stock.

Insiders Place Their Bets

In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of Pioneer Natural Resources stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the completion of the sale, the director now owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Phillip A. Gobe sold 2,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the transaction, the director now owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were 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 of the company’s stock, valued at approximately $1,302,140.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,766 shares of company stock valued at $9,067,373. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

PXD has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Pioneer Natural Resources in a research note on Sunday. They set a “hold” rating for the company. Scotiabank raised their price target on shares of 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. Truist Financial lifted their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $279.00 target price on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Finally, Stifel Nicolaus lifted their target price on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Pioneer Natural Resources currently has an average rating of “Hold” and a consensus target price of $264.10.

Pioneer Natural Resources Stock Performance

PXD stock opened at $275.12 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72. The company has a 50 day moving average price of $252.53 and a 200 day moving average price of $239.17. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83. The stock has a market capitalization of $64.27 billion, a PE ratio of 13.59 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the firm posted $5.91 EPS. Pioneer Natural Resources’s revenue was up 2.1% on a year-over-year basis. Analysts forecast that Pioneer Natural Resources will post 21.66 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were issued a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

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.