Summit Global Investments Trims Holdings in Pioneer Natural Resources (NYSE:PXD)

Summit Global Investments lessened its holdings in Pioneer Natural Resources (NYSE:PXD) by 44.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,843 shares of the oil and gas development company’s stock after selling 1,470 shares during the quarter. Summit Global Investments’ holdings in Pioneer Natural Resources were worth $414,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Stratos Wealth Partners LTD. boosted its stake in Pioneer Natural Resources by 3.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,932 shares of the oil and gas development company’s stock worth $1,362,000 after purchasing an additional 201 shares in the last quarter. WealthShield Partners LLC grew its holdings in shares of Pioneer Natural Resources by 3.9% during the third quarter. WealthShield Partners LLC now owns 4,101 shares of the oil and gas development company’s stock valued at $941,000 after buying an additional 155 shares during the last quarter. BluePath Capital Management LLC bought a new stake in shares of Pioneer Natural Resources during the third quarter valued at approximately $29,000. Mackenzie Financial Corp raised its holdings in Pioneer Natural Resources by 3.2% in the 3rd quarter. Mackenzie Financial Corp now owns 16,440 shares of the oil and gas development company’s stock worth $3,677,000 after acquiring an additional 504 shares during the last quarter. Finally, Strs Ohio boosted its stake in Pioneer Natural Resources by 107.4% during the 3rd quarter. Strs Ohio now owns 149,341 shares of the oil and gas development company’s stock valued at $34,281,000 after purchasing an additional 77,329 shares during the last quarter. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

Pioneer Natural Resources Stock Up 0.7 %

Shares of PXD opened at $269.62 on Monday. The business’s 50 day moving average is $258.94 and its 200 day moving average is $240.66. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. The company has a market capitalization of $63.00 billion, a PE ratio of 13.32 and a beta of 1.28.

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 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 for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the business earned $5.91 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts expect that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were issued 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 presently 24.70%.

Insider Activity

In related news, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the sale, the chief accounting officer now directly owns 4,990 shares in the company, valued at $1,302,140.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value of $369,505.20. Following the sale, the chief accounting officer now directly owns 4,990 shares in the company, valued at approximately $1,302,140.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock worth $9,067,373 over the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PXD. Truist Financial upped their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. Susquehanna raised their price target on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Scotiabank lifted 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. StockNews.com assumed coverage on shares of Pioneer Natural Resources in a research report on Monday, April 29th. They set a “hold” rating on the stock. Finally, Mizuho lifted their target price 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. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Pioneer Natural Resources has an average rating of “Hold” and a consensus target price of $264.10.

About Pioneer Natural Resources

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.