Insider Selling: Pioneer Natural Resources (NYSE:PXD) CAO Sells 1,416 Shares of Stock

Pioneer Natural Resources (NYSE:PXD) CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of 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 SEC, which is available at this link.

Pioneer Natural Resources Stock Performance

PXD traded up $2.50 on Thursday, reaching $262.50. The company had a trading volume of 2,173,103 shares, compared to its average volume of 2,100,565. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year high of $263.08. The stock has a market capitalization of $61.33 billion, a PE ratio of 12.97 and a beta of 1.30. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $236.00 and a 200-day moving average price of $233.73.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the firm earned $5.91 earnings per share. Pioneer Natural Resources’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Pioneer Natural Resources will post 20.35 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. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.90%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 24.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PXD. UBS Group cut their price target on shares of Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, December 14th. Mizuho raised their price target on shares of 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 began coverage on shares of Pioneer Natural Resources in a report on Thursday. They set a “hold” rating for the company. Susquehanna raised their price target on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, Stifel Nicolaus cut their price target on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $254.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PXD. Proficio Capital Partners LLC raised its stake 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 purchasing an additional 40 shares during the last quarter. Caprock Group LLC increased its position in shares of 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 worth $655,000 after purchasing an additional 41 shares in the last quarter. MONECO Advisors LLC grew its holdings in Pioneer Natural Resources by 3.9% during the 4th quarter. MONECO Advisors LLC now owns 1,126 shares of the oil and gas development company’s stock worth $253,000 after acquiring an additional 42 shares during the last quarter. IFP Advisors Inc grew its holdings 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 worth $330,000 after acquiring an additional 43 shares during the last quarter. Finally, Western Pacific Wealth Management LP grew its holdings 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 worth $61,000 after acquiring an additional 44 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

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.