Pioneer Natural Resources (NYSE:PXD) Shares Sold by Hartline Investment Corp

Hartline Investment Corp trimmed its stake in Pioneer Natural Resources (NYSE:PXD) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,020 shares of the oil and gas development company’s stock after selling 151 shares during the quarter. Hartline Investment Corp’s holdings in Pioneer Natural Resources were worth $454,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in Pioneer Natural Resources by 3.1% in the third quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock valued at $330,000 after purchasing an additional 43 shares during the last quarter. Naples Global Advisors LLC purchased a new position in Pioneer Natural Resources in the third quarter valued at about $216,000. Eastern Bank acquired a new stake in Pioneer Natural Resources during the third quarter valued at approximately $645,000. Avior Wealth Management LLC raised its position in shares of Pioneer Natural Resources by 13.5% during the 3rd quarter. Avior Wealth Management LLC now owns 1,281 shares of the oil and gas development company’s stock worth $294,000 after purchasing an additional 152 shares during the period. Finally, Meridian Wealth Management LLC raised its position in shares of Pioneer Natural Resources by 97.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,422 shares of the oil and gas development company’s stock worth $556,000 after purchasing an additional 1,196 shares during the period. 80.57% of the stock is owned by institutional investors and hedge funds.

Pioneer Natural Resources Price Performance

Shares of PXD traded up $0.29 during trading hours on Wednesday, hitting $275.52. 1,269,073 shares of the company were exchanged, compared to its average volume of 1,991,663. The company has a market capitalization of $64.37 billion, a PE ratio of 13.59 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 firm has a fifty day simple moving average of $252.53 and a 200-day simple moving average of $239.17. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.41 by ($0.13). The business had revenue of $5.22 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business posted $5.91 earnings per share. As a group, sell-side analysts predict that Pioneer Natural Resources will post 21.66 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were given a $2.56 dividend. This represents a $10.24 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PXD. Stifel Nicolaus increased their price target on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday. Royal Bank of Canada restated a “sector perform” rating and issued a $279.00 target price on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. StockNews.com started coverage on Pioneer Natural Resources in a research report on Sunday. They issued a “hold” rating on the stock. 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. Finally, Susquehanna raised their target price on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research report on Monday. Two investment 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, Pioneer Natural Resources has an average rating of “Hold” and a consensus price target of $264.10.

Insider Activity

In related news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the sale, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director J Kenneth Thompson sold 1,000 shares of Pioneer Natural Resources 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 directly owns 16,070 shares of the company’s stock, valued at $4,017,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value of $369,505.20. Following the sale, the chief accounting officer now directly owns 4,990 shares in the company, valued at $1,302,140.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,766 shares of company stock valued at $9,067,373. 0.55% of the stock is owned by insiders.

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.