Cambridge Trust Co. Sells 36,554 Shares of Pioneer Natural Resources (NYSE:PXD)

Cambridge Trust Co. reduced its position in Pioneer Natural Resources (NYSE:PXD) by 46.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 41,678 shares of the oil and gas development company’s stock after selling 36,554 shares during the quarter. Cambridge Trust Co.’s holdings in Pioneer Natural Resources were worth $9,373,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Pioneer Natural Resources by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company’s stock valued at $4,594,616,000 after buying an additional 113,751 shares during the last quarter. Geode Capital Management LLC raised its position in Pioneer Natural Resources by 3.6% in the 1st quarter. Geode Capital Management LLC now owns 4,337,964 shares of the oil and gas development company’s stock valued at $884,893,000 after buying an additional 149,026 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Pioneer Natural Resources by 46.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock valued at $968,877,000 after buying an additional 1,343,601 shares during the last quarter. Clearbridge Investments LLC raised its position in Pioneer Natural Resources by 7.6% in the 3rd 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 last quarter. Finally, Bank of New York Mellon Corp raised its position in Pioneer Natural Resources by 25.7% in the 3rd 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. 80.57% of the stock is currently owned by institutional investors.

Insider Transactions at Pioneer Natural Resources

In related news, EVP Mark H. Kleinman sold 3,500 shares of the company’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 transaction, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total value of $522,240.00. Following the sale, the director now directly owns 11,132 shares in the company, valued at $2,906,787.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark H. Kleinman sold 3,500 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were 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 quarter. 0.57% of the stock is currently owned by insiders.

Pioneer Natural Resources Price Performance

Shares of NYSE:PXD traded down $0.10 during trading on Thursday, hitting $267.69. 524,239 shares of the company’s stock were exchanged, compared to its average volume of 1,977,622. The company has a market cap of $62.54 billion, a price-to-earnings ratio of 13.23 and a beta of 1.31. 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 business’s 50-day simple moving average is $249.09 and its 200 day simple moving average 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 issued its 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). The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $5.91 earnings per share. As a group, equities analysts predict that Pioneer Natural Resources will post 21.15 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.83%. Pioneer Natural Resources’s payout ratio is 24.70%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PXD shares. Truist Financial raised their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research report on Friday, April 5th. StockNews.com started coverage on Pioneer Natural Resources in a research report on Saturday, April 13th. They set a “hold” rating for the company. Mizuho raised their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Scotiabank raised their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Stifel Nicolaus decreased their target price on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pioneer Natural Resources has a consensus 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.