Pioneer Natural Resources (NYSE:PXD) Director Sells $522,240.00 in Stock

Pioneer Natural Resources (NYSE:PXD) Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the transaction, the director now directly owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Pioneer Natural Resources Price Performance

PXD traded up $2.50 on Thursday, hitting $262.50. 2,173,103 shares of the stock were exchanged, compared to its average volume of 2,100,565. Pioneer Natural Resources has a 12 month low of $196.74 and a 12 month high of $263.08. The business has a 50-day moving average of $236.00 and a two-hundred day moving average of $233.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72. The firm has a market capitalization of $61.33 billion, a price-to-earnings ratio of 12.97 and a beta of 1.30.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results 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 return on equity of 22.42% and a net margin of 25.28%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the firm posted $5.91 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Pioneer Natural Resources will post 20.35 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s payout ratio is currently 24.70%.

Institutional Investors Weigh In On Pioneer Natural Resources

Several large investors have recently made changes to their positions in PXD. Dai ichi Life Insurance Company Ltd raised its holdings in shares of Pioneer Natural Resources by 45.5% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 21,079 shares of the oil and gas development company’s stock valued at $4,839,000 after buying an additional 6,589 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Pioneer Natural Resources by 610.6% in the third quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock worth $141,965,000 after purchasing an additional 531,418 shares in the last quarter. Banco Santander S.A. raised its holdings in Pioneer Natural Resources by 7.1% in the third quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company’s stock worth $11,847,000 after purchasing an additional 3,438 shares in the last quarter. SCP Investment LP grew its stake in shares of Pioneer Natural Resources by 80.0% in the third quarter. SCP Investment LP now owns 1,800 shares of the oil and gas development company’s stock worth $413,000 after acquiring an additional 800 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Pioneer Natural Resources by 34.2% in the third quarter. William Blair Investment Management LLC now owns 440,522 shares of the oil and gas development company’s stock worth $101,122,000 after acquiring an additional 112,261 shares during the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PXD has been the topic of several research reports. UBS Group lowered their price target on shares of Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. StockNews.com began coverage on shares of Pioneer Natural Resources in a report on Thursday. They set a “hold” rating for the company. Susquehanna boosted their price objective on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Mizuho boosted 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 note on Tuesday, March 19th. Finally, Stifel Nicolaus reduced their target price on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Pioneer Natural Resources has an average rating of “Hold” and an average target price of $254.90.

Pioneer Natural Resources Company 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.