State of Alaska Department of Revenue Trims Stock Position in Pioneer Natural Resources (NYSE:PXD)

State of Alaska Department of Revenue cut its stake in shares of Pioneer Natural Resources (NYSE:PXDFree Report) by 0.8% in the 4th quarter, Holdings Channel reports. The fund owned 37,272 shares of the oil and gas development company’s stock after selling 295 shares during the quarter. State of Alaska Department of Revenue’s holdings in Pioneer Natural Resources were worth $8,380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Patron Partners LLC raised its stake in Pioneer Natural Resources by 14.5% during the 4th quarter. Patron Partners LLC now owns 1,036 shares of the oil and gas development company’s stock valued at $233,000 after acquiring an additional 131 shares during the last quarter. Chilton Capital Management LLC increased its position in Pioneer Natural Resources by 21.3% during the 4th quarter. Chilton Capital Management LLC now owns 11,481 shares of the oil and gas development company’s stock worth $2,582,000 after purchasing an additional 2,016 shares during the period. Blue Trust Inc. increased its position in Pioneer Natural Resources by 194.7% during the 4th quarter. Blue Trust Inc. now owns 448 shares of the oil and gas development company’s stock worth $103,000 after purchasing an additional 296 shares during the period. Traynor Capital Management Inc. increased its position in Pioneer Natural Resources by 1.3% during the 4th quarter. Traynor Capital Management Inc. now owns 11,720 shares of the oil and gas development company’s stock worth $2,636,000 after purchasing an additional 152 shares during the period. Finally, Ritholtz Wealth Management acquired a new position in Pioneer Natural Resources during the 4th quarter worth approximately $241,000. 80.57% of the stock is owned by hedge funds and other institutional investors.

Pioneer Natural Resources Price Performance

Shares of NYSE:PXD opened at $262.50 on Friday. The business’s fifty day moving average price is $237.83 and its two-hundred day moving average price is $234.13. The stock has a market cap of $61.33 billion, a PE ratio of 12.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $263.08.

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 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 analysts’ expectations of $5.28 billion. During the same period in the prior year, the company earned $5.91 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that Pioneer Natural Resources will post 20.29 EPS 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. Shareholders of record on Monday, March 4th were paid a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Susquehanna boosted their target price on Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. StockNews.com assumed coverage on Pioneer Natural Resources in a research report on Thursday. They set a “hold” rating on the stock. UBS Group dropped their target price on Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. Stifel Nicolaus lowered their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating on the stock in a report on Tuesday, January 23rd. Finally, Mizuho upped their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Pioneer Natural Resources presently has a consensus rating of “Hold” and an average target price of $254.90.

View Our Latest Analysis on Pioneer Natural Resources

Insiders Place Their Bets

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the transaction, the director now owns 462,112 shares of the company’s stock, valued at approximately $108,711,848. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 7,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $252.33, for a total value of $1,892,475.00. Following the transaction, the director now directly owns 447,112 shares of the company’s stock, valued at $112,819,770.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the completion of the transaction, the director now directly owns 462,112 shares in the company, valued at $108,711,848. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock valued at $9,067,373 in the last quarter. 0.57% of the stock is currently owned by company insiders.

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

Want to see what other hedge funds are holding PXD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pioneer Natural Resources (NYSE:PXDFree Report).

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

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