Westover Capital Advisors LLC Decreases Holdings in Pioneer Natural Resources (NYSE:PXD)

Westover Capital Advisors LLC reduced its position in shares of Pioneer Natural Resources (NYSE:PXD) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,309 shares of the oil and gas development company’s stock after selling 887 shares during the period. Pioneer Natural Resources accounts for about 1.3% of Westover Capital Advisors LLC’s portfolio, making the stock its 20th largest holding. Westover Capital Advisors LLC’s holdings in Pioneer Natural Resources were worth $3,892,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PXD. Bank of New York Mellon Corp raised its position in shares of Pioneer Natural Resources by 25.7% in the third quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock valued at $743,734,000 after buying an additional 662,891 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Pioneer Natural Resources in the 3rd quarter worth approximately $134,558,000. Assenagon Asset Management S.A. boosted its holdings in shares of Pioneer Natural Resources by 610.6% during the 3rd 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 during the last quarter. International Assets Investment Management LLC grew its position in shares of Pioneer Natural Resources by 20,425.9% in the fourth quarter. International Assets Investment Management LLC now owns 302,757 shares of the oil and gas development company’s stock valued at $68,084,000 after purchasing an additional 301,282 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Pioneer Natural Resources by 7.6% in the third quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock valued at $748,271,000 after purchasing an additional 231,470 shares during the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

Pioneer Natural Resources Stock Performance

Shares of NYSE PXD traded up $2.72 during midday trading on Thursday, reaching $270.38. 2,849,193 shares of the company were exchanged, compared to its average volume of 2,055,130. The stock has a fifty day simple moving average of $257.48 and a 200 day simple moving average of $240.49. 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 stock has a market cap of $63.17 billion, a P/E ratio of 13.23 and a beta of 1.28. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year 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 (EPS) 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 analyst estimates of $5.28 billion. During the same period in the previous year, the firm posted $5.91 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Pioneer Natural Resources will post 22.47 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were issued a $2.56 dividend. This represents a $10.24 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s payout ratio is 24.70%.

Wall Street Analysts Forecast Growth

PXD has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $279.00 target price on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Truist Financial boosted their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research note on Friday, April 5th. StockNews.com initiated coverage on shares of Pioneer Natural Resources in a report on Monday. They issued a “hold” rating for the company. Scotiabank raised their price target on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Finally, Susquehanna boosted their price objective on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $264.10.

Insider Transactions at Pioneer Natural Resources

In other news, Director Scott D. Sheffield sold 10,000 shares of the firm’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 completion of the sale, the director now directly owns 462,112 shares of the company’s stock, valued at approximately $108,711,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Scott D. Sheffield sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $252.33, for a total value of $1,892,475.00. Following the sale, the director now owns 447,112 shares in the company, valued at approximately $112,819,770.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction 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 owns 462,112 shares in the company, valued at $108,711,848. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock worth $9,067,373 over the last ninety days. 0.57% of the stock is currently owned by company insiders.

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.