Los Angeles Capital Management LLC Reduces Stock Position in Pioneer Natural Resources (NYSE:PXD)

Los Angeles Capital Management LLC cut its holdings in Pioneer Natural Resources (NYSE:PXD) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,175 shares of the oil and gas development company’s stock after selling 1,239 shares during the period. Los Angeles Capital Management LLC’s holdings in Pioneer Natural Resources were worth $4,087,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PXD. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Pioneer Natural Resources during the 3rd quarter worth $134,558,000. Assenagon Asset Management S.A. lifted its holdings 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 valued at $141,965,000 after purchasing an additional 531,418 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Pioneer Natural Resources by 20,425.9% in the 4th quarter. International Assets Investment Management LLC now owns 302,757 shares of the oil and gas development company’s stock valued at $68,084,000 after purchasing an additional 301,282 shares during the period. Clearbridge Investments LLC boosted its position in shares of Pioneer Natural Resources by 7.6% in the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock valued at $748,271,000 after purchasing an additional 231,470 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Pioneer Natural Resources by 31.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 778,839 shares of the oil and gas development company’s stock worth $178,782,000 after buying an additional 184,186 shares during the last quarter. 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 $269.62 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 0.90. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The firm has a market capitalization of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28. The company’s fifty day moving average is $258.94 and its two-hundred day moving average is $240.66.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business earned $5.91 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts forecast that Pioneer Natural Resources will post 22.07 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a dividend of $2.56 per share. This represents a $10.24 annualized dividend 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 (DPR) is 24.70%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PXD shares. Stifel Nicolaus increased their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. Scotiabank increased 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. Susquehanna lifted their price objective on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. StockNews.com began coverage on shares of Pioneer Natural Resources in a research note on Monday, April 29th. They set a “hold” rating for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $279.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Pioneer Natural Resources presently has an average rating of “Hold” and an average target price of $264.10.

Insider Buying and Selling

In other news, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources 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 completion of the transaction, the director now owns 462,112 shares of the company’s stock, valued at approximately $108,711,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 462,112 shares in the company, valued at $108,711,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott D. Sheffield sold 7,500 shares of Pioneer Natural Resources stock in a transaction that occurred on 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 owns 447,112 shares of the company’s stock, valued at $112,819,770.96. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock worth $9,067,373 in the last quarter. Company insiders own 0.55% of the company’s stock.

Pioneer Natural Resources 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.