Pioneer Natural Resources (NYSE:PXD) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its holdings in shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) by 20.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,417 shares of the oil and gas development company’s stock after buying an additional 239 shares during the period. Wedmont Private Capital’s holdings in Pioneer Natural Resources were worth $331,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cowa LLC acquired a new position in shares of Pioneer Natural Resources during the third quarter worth approximately $27,000. Kistler Tiffany Companies LLC bought a new stake in Pioneer Natural Resources during the third quarter worth approximately $27,000. Evermay Wealth Management LLC raised its holdings in Pioneer Natural Resources by 48.2% during the third quarter. Evermay Wealth Management LLC now owns 123 shares of the oil and gas development company’s stock worth $27,000 after purchasing an additional 40 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in Pioneer Natural Resources by 84.1% during the third quarter. Ronald Blue Trust Inc. now owns 127 shares of the oil and gas development company’s stock worth $29,000 after purchasing an additional 58 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Pioneer Natural Resources by 106.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 169 shares of the oil and gas development company’s stock worth $37,000 after purchasing an additional 87 shares in the last quarter. 89.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company raised Pioneer Natural Resources from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $225.00 to $220.00 in a report on Thursday, March 2nd. Mizuho dropped their target price on Pioneer Natural Resources from $293.00 to $265.00 in a report on Friday, March 10th. Raymond James dropped their target price on Pioneer Natural Resources from $310.00 to $300.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 26th. Tudor, Pickering, Holt & Co. raised Pioneer Natural Resources from a “hold” rating to a “buy” rating in a report on Monday, February 27th. Finally, Susquehanna dropped their price target on Pioneer Natural Resources from $286.00 to $266.00 and set a “positive” rating on the stock in a report on Monday, February 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Pioneer Natural Resources has an average rating of “Moderate Buy” and a consensus target price of $263.68.

Pioneer Natural Resources Price Performance

Shares of PXD stock opened at $182.05 on Friday. The firm’s 50 day moving average price is $218.31 and its two-hundred day moving average price is $232.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.96. The stock has a market cap of $42.78 billion, a PE ratio of 5.86, a PEG ratio of 0.96 and a beta of 1.41. Pioneer Natural Resources has a 52-week low of $177.26 and a 52-week high of $288.46.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The oil and gas development company reported $5.91 EPS for the quarter, topping analysts’ consensus estimates of $5.83 by $0.08. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.59 billion. Pioneer Natural Resources had a net margin of 32.29% and a return on equity of 33.15%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the business posted $4.58 earnings per share. As a group, analysts forecast that Pioneer Natural Resources will post 22.67 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Monday, March 6th were given a $5.58 dividend. This represents a $22.32 dividend on an annualized basis and a yield of 12.26%. The ex-dividend date was Friday, March 3rd. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 14.17%.

About Pioneer Natural Resources

(Get Rating)

Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.