Sequoia Financial Advisors LLC Trims Position in Pioneer Natural Resources (NYSE:PXD)

Sequoia Financial Advisors LLC lessened its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 88.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,894 shares of the oil and gas development company’s stock after selling 45,433 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Pioneer Natural Resources were worth $1,326,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PXD. T. Rowe Price Investment Management Inc. lifted its stake in shares of Pioneer Natural Resources by 46.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock worth $968,877,000 after purchasing an additional 1,343,601 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of Pioneer Natural Resources by 75,598.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 996,195 shares of the oil and gas development company’s stock worth $227,521,000 after buying an additional 994,879 shares during the period. Bank of New York Mellon Corp raised its position in shares of Pioneer Natural Resources by 25.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after buying an additional 662,891 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Pioneer Natural Resources in the 3rd quarter worth $134,558,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Pioneer Natural Resources by 610.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock worth $141,965,000 after buying an additional 531,418 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PXD shares. Scotiabank increased their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $279.00 target price on shares of Pioneer Natural Resources in a research report on Thursday. Stifel Nicolaus cut their target price on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating on the stock in a research report on Tuesday, January 23rd. Mizuho raised their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Truist Financial raised their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $259.00.

Pioneer Natural Resources Stock Down 1.4 %

NYSE:PXD opened at $270.80 on Friday. The company has a market capitalization of $63.26 billion, a price-to-earnings ratio of 13.38 and a beta of 1.31. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The stock has a 50-day simple moving average of $246.65 and a 200 day simple moving average of $236.95. 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 (NYSE:PXD) last issued its earnings results 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). 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 during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the business earned $5.91 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that Pioneer Natural Resources will post 20.88 EPS for the current fiscal 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 $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a yield of 3.78%. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Insiders Place Their Bets

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the firm’s 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 transaction, the executive vice president now owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the sale, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $234.35, for a total value of $820,225.00. Following the sale, the executive vice president now directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock valued at $9,067,373 over the last quarter. Insiders own 0.57% 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.