Pioneer Natural Resources (NYSE:PXD) Stock Holdings Lowered by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC trimmed its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 19.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 891 shares of the oil and gas development company’s stock after selling 211 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Pioneer Natural Resources were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Pioneer Natural Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company’s stock valued at $4,594,616,000 after acquiring an additional 113,751 shares during the period. Clearbridge Investments LLC grew its position in Pioneer Natural Resources by 7.6% during the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock worth $748,271,000 after purchasing an additional 231,470 shares in the last quarter. Northern Trust Corp raised its stake in Pioneer Natural Resources by 2.2% during the 3rd quarter. Northern Trust Corp now owns 2,497,868 shares of the oil and gas development company’s stock valued at $573,386,000 after purchasing an additional 54,841 shares during the period. Ameriprise Financial Inc. raised its stake in Pioneer Natural Resources by 7.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,923,819 shares of the oil and gas development company’s stock valued at $443,574,000 after purchasing an additional 134,982 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Pioneer Natural Resources by 11.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,637,919 shares of the oil and gas development company’s stock valued at $368,335,000 after purchasing an additional 165,560 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on PXD shares. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Mizuho increased their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Truist Financial raised their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Susquehanna increased their target price on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Finally, StockNews.com started coverage on shares of Pioneer Natural Resources in a research note on Tuesday. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $264.10.

Pioneer Natural Resources Price Performance

PXD stock opened at $269.62 on Tuesday. The business’s 50-day simple moving average is $259.65 and its 200 day simple moving average is $240.76. The company has a quick ratio of 0.76, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. The company has a market cap of $63.00 billion, a PE ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a twelve month low of $196.74 and a twelve month high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data 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). The firm 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 24.28% and a return on equity of 21.21%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.91 earnings per share. On average, research analysts anticipate that Pioneer Natural Resources will post 22.07 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is 24.70%.

Insider Activity

In related news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total value of $820,225.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director J Kenneth Thompson sold 1,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the sale, the director now owns 16,070 shares in the company, valued at approximately $4,017,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,766 shares of company stock worth $9,067,373. Corporate insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Company Profile

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.