Peterson Wealth Services Reduces Stake in Pioneer Natural Resources (NYSE:PXD)

Peterson Wealth Services lessened its position in Pioneer Natural Resources (NYSE:PXD) by 87.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,581 shares of the oil and gas development company’s stock after selling 11,356 shares during the quarter. Peterson Wealth Services’ holdings in Pioneer Natural Resources were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its position in Pioneer Natural Resources by 4.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 1,030 shares of the oil and gas development company’s stock valued at $236,000 after buying an additional 40 shares in the last quarter. Caprock Group LLC increased its position in Pioneer Natural Resources by 1.5% during the 3rd quarter. Caprock Group LLC now owns 2,855 shares of the oil and gas development company’s stock valued at $655,000 after buying an additional 41 shares in the last quarter. IFP Advisors Inc increased its position in Pioneer Natural Resources by 3.1% during the 3rd quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock valued at $330,000 after buying an additional 43 shares in the last quarter. Western Pacific Wealth Management LP increased its position in Pioneer Natural Resources by 20.0% during the 3rd quarter. Western Pacific Wealth Management LP now owns 264 shares of the oil and gas development company’s stock valued at $61,000 after buying an additional 44 shares in the last quarter. Finally, Hartford Financial Management Inc. increased its position in Pioneer Natural Resources by 61.1% during the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Stock Performance

NYSE PXD traded up $1.40 on Thursday, hitting $269.19. 226,399 shares of the company traded hands, compared to its average volume of 1,973,539. The company has a market capitalization of $62.89 billion, a price-to-earnings ratio of 13.23 and a beta of 1.31. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $249.09 and its 200-day moving average price is $237.70. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the firm posted $5.91 earnings per share. Pioneer Natural Resources’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts expect that Pioneer Natural Resources will post 21.15 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were given a $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 annualized dividend and a dividend yield of 3.80%. Pioneer Natural Resources’s payout ratio is 24.70%.

Insider Activity

In other 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 transaction, the chief accounting officer now directly owns 4,990 shares in the company, valued at $1,302,140.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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. Also, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was 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 in the company, valued at $11,683,753.60. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock worth $9,067,373 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PXD has been the subject of a number of research analyst reports. Truist Financial lifted their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Susquehanna lifted their target price on Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. StockNews.com initiated coverage on Pioneer Natural Resources in a report on Saturday, April 13th. They issued a “hold” rating for the company. Finally, Scotiabank lifted their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $259.00.

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.