First National Trust Co Trims Stock Position in Pioneer Natural Resources (NYSE:PXD)

First National Trust Co cut its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,539 shares of the oil and gas development company’s stock after selling 1,124 shares during the quarter. First National Trust Co’s holdings in Pioneer Natural Resources were worth $5,743,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Pioneer Natural Resources during the third quarter valued at approximately $134,558,000. Assenagon Asset Management S.A. increased its holdings in Pioneer Natural Resources by 610.6% during the third quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock valued at $141,965,000 after buying an additional 531,418 shares during the period. International Assets Investment Management LLC increased its holdings in Pioneer Natural Resources by 20,425.9% during 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 buying an additional 301,282 shares during the period. Clearbridge Investments LLC increased its holdings in Pioneer Natural Resources by 7.6% during 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 buying an additional 231,470 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Pioneer Natural Resources by 31.0% during the third quarter. Envestnet Asset Management Inc. now owns 778,839 shares of the oil and gas development company’s stock valued at $178,782,000 after buying an additional 184,186 shares during the period. 80.57% of the stock is owned by hedge funds and other institutional investors.

Pioneer Natural Resources Stock Performance

Shares of PXD remained flat at $269.62 during trading hours on Friday. The stock has a market capitalization of $62.99 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The company has a 50-day moving average price of $258.20 and a 200 day moving average price of $240.69.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data 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 for 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 quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Pioneer Natural Resources will post 22.47 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

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

Insider Buying and Selling at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the sale, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the sale, the executive vice president now directly owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the sale, the director now directly owns 462,112 shares in the company, valued at $108,711,848. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,766 shares of company stock valued at $9,067,373. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PXD. Truist Financial lifted their price objective on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. Susquehanna lifted their price target on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $279.00 price target on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Stifel Nicolaus lifted their price target on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, StockNews.com began coverage on shares of Pioneer Natural Resources in a report on Monday, April 29th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pioneer Natural Resources currently has an average rating of “Hold” and a consensus price target of $264.10.

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.