SlateStone Wealth LLC Has $345,000 Stake in Pioneer Natural Resources (NYSE:PXD)

SlateStone Wealth LLC lowered its position in Pioneer Natural Resources (NYSE:PXD) by 10.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,534 shares of the oil and gas development company’s stock after selling 186 shares during the period. SlateStone Wealth LLC’s holdings in Pioneer Natural Resources were worth $345,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC lifted its position in shares of Pioneer Natural Resources by 4.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 1,030 shares of the oil and gas development company’s stock valued at $236,000 after acquiring an additional 40 shares during the period. Caprock Group LLC lifted its position in shares of Pioneer Natural Resources by 1.5% during the 3rd quarter. Caprock Group LLC now owns 2,855 shares of the oil and gas development company’s stock valued at $655,000 after acquiring an additional 41 shares during the period. IFP Advisors Inc lifted its position in shares of Pioneer Natural Resources by 3.1% during the 3rd quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock valued at $330,000 after acquiring an additional 43 shares during the period. Western Pacific Wealth Management LP lifted its position in shares of Pioneer Natural Resources by 20.0% during the 3rd quarter. Western Pacific Wealth Management LP now owns 264 shares of the oil and gas development company’s stock valued at $61,000 after acquiring an additional 44 shares during the period. Finally, Hartford Financial Management Inc. lifted its position in shares of Pioneer Natural Resources by 61.1% during the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 80.57% of the company’s stock.

Insider Buying and Selling at Pioneer Natural Resources

In other news, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the sale, the executive vice president now directly owns 49,856 shares in the company, valued at $11,683,753.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the sale, the director now owns 462,112 shares of the company’s stock, 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 valued at $9,067,373 over the last three months. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PXD. Royal Bank of Canada reiterated a “sector perform” rating and set a $279.00 target price on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Mizuho boosted their price target 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. Scotiabank boosted their price target on shares of 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 boosted their price target on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Stifel Nicolaus boosted their price target on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $264.10.

Pioneer Natural Resources Stock Performance

NYSE PXD traded up $1.50 during trading on Tuesday, hitting $275.01. 856,830 shares of the company’s stock traded hands, compared to its average volume of 1,987,404. The stock has a market capitalization of $64.25 billion, a price-to-earnings ratio of 13.60 and a beta of 1.31. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. 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 has a 50 day moving average of $251.56 and a 200-day moving average of $238.90.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data 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). The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. Pioneer Natural Resources’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $5.91 earnings per share. As a group, equities research analysts anticipate that Pioneer Natural Resources will post 21.5 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were issued a dividend of $2.56 per share. This represents a $10.24 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

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.