Trust Investment Advisors Lowers Stock Holdings in Pioneer Natural Resources (NYSE:PXD)

Trust Investment Advisors decreased its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 17.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,737 shares of the oil and gas development company’s stock after selling 1,201 shares during the quarter. Trust Investment Advisors’ holdings in Pioneer Natural Resources were worth $1,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PXD. T. Rowe Price Investment Management Inc. grew its holdings 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 period. Moneta Group Investment Advisors LLC grew its holdings in Pioneer Natural Resources by 75,598.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 996,195 shares of the oil and gas development company’s stock valued at $227,521,000 after purchasing an additional 994,879 shares during the period. Bank of New York Mellon Corp raised its stake in Pioneer Natural Resources by 25.7% during the third quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after purchasing an additional 662,891 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Pioneer Natural Resources in the 3rd quarter valued at $134,558,000. Finally, Assenagon Asset Management S.A. grew its stake 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 valued at $141,965,000 after buying an additional 531,418 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Stock Up 0.1 %

Shares of PXD stock traded up $0.18 during mid-day trading on Thursday, reaching $267.97. 1,402,057 shares of the company were exchanged, compared to its average volume of 1,989,909. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. The business’s 50 day simple moving average is $249.09 and its 200 day simple moving average is $237.70. The company has a market capitalization of $62.60 billion, a P/E ratio of 13.23 and a beta of 1.31. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company 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 was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.91 earnings per share. Research analysts predict that Pioneer Natural Resources will post 21.15 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were paid a $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a yield of 3.82%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 24.70%.

Insider Activity at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director J Kenneth Thompson sold 1,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the transaction, the director now owns 16,070 shares of the company’s stock, valued at approximately $4,017,500. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value of $369,505.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J Kenneth Thompson sold 1,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the sale, the director now owns 16,070 shares in the company, valued at approximately $4,017,500. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock valued at $9,067,373 over the last three months. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on PXD. Royal Bank of Canada reiterated a “sector perform” rating and issued a $279.00 target price on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Scotiabank lifted their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Susquehanna increased their target price on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Truist Financial lifted 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 report on Friday, April 5th. Finally, Mizuho increased their price objective on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $259.00.

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.