Pier 88 Investment Partners LLC Lowers Stock Holdings in Pioneer Natural Resources (NYSE:PXD)

Pier 88 Investment Partners LLC decreased its position in shares of Pioneer Natural Resources (NYSE:PXDFree Report) by 68.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,100 shares of the oil and gas development company’s stock after selling 15,700 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Pioneer Natural Resources were worth $1,597,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Pioneer Natural Resources by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company’s stock valued at $4,594,616,000 after buying an additional 113,751 shares in the last quarter. Clearbridge Investments LLC lifted its stake in 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 worth $748,271,000 after purchasing an additional 231,470 shares in the last quarter. Northern Trust Corp lifted its stake in Pioneer Natural Resources by 2.2% in the 3rd quarter. Northern Trust Corp now owns 2,497,868 shares of the oil and gas development company’s stock worth $573,386,000 after purchasing an additional 54,841 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Pioneer Natural Resources by 7.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,923,819 shares of the oil and gas development company’s stock worth $443,574,000 after purchasing an additional 134,982 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Pioneer Natural Resources by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,797,231 shares of the oil and gas development company’s stock worth $404,163,000 after purchasing an additional 52,371 shares in the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Insiders Place Their Bets

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the company’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 directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mark H. Kleinman sold 3,500 shares of the company’s 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 completion of the sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phillip A. Gobe sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the completion of the sale, the director now directly owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock worth $9,067,373 in the last three months. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PXD shares. Stifel Nicolaus boosted their price target on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. StockNews.com initiated coverage on shares of Pioneer Natural Resources in a research note on Thursday. They issued a “hold” rating on the stock. Mizuho upped their target price on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Scotiabank upped their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Susquehanna upped their target price on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $264.10.

Check Out Our Latest Stock Analysis on Pioneer Natural Resources

Pioneer Natural Resources Stock Performance

PXD stock remained flat at $269.62 during mid-day trading on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.90 and a quick ratio of 0.76. The company has a market capitalization of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28. The business’s fifty day moving average is $267.71 and its 200 day moving average is $243.53. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83.

Pioneer Natural Resources (NYSE:PXDGet Free Report) last issued its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 21.21% and a net margin of 24.28%. Pioneer Natural Resources’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.91 earnings per share. Research analysts anticipate that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Pioneer Natural Resources Company 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.

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

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