Pekin Hardy Strauss Inc. Sells 734 Shares of Pioneer Natural Resources (NYSE:PXD)

Pekin Hardy Strauss Inc. trimmed its position in Pioneer Natural Resources (NYSE:PXD) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,532 shares of the oil and gas development company’s stock after selling 734 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Pioneer Natural Resources were worth $2,368,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Western Pacific Wealth Management LP raised its stake in 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 worth $61,000 after buying an additional 44 shares during the period. Hartford Financial Management Inc. raised its stake in shares of Pioneer Natural Resources by 61.1% in the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after purchasing an additional 44 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Pioneer Natural Resources by 19.1% in the fourth quarter. Financial Management Professionals Inc. now owns 281 shares of the oil and gas development company’s stock valued at $63,000 after purchasing an additional 45 shares in the last quarter. Tlwm grew its holdings in Pioneer Natural Resources by 1.3% during the fourth quarter. Tlwm now owns 3,576 shares of the oil and gas development company’s stock worth $804,000 after buying an additional 46 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its position in Pioneer Natural Resources by 2.3% in the 4th quarter. Stratos Wealth Advisors LLC now owns 2,075 shares of the oil and gas development company’s stock valued at $467,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PXD. Truist Financial upped their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Susquehanna increased their price objective 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, April 22nd. Mizuho increased their price target 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. Stifel Nicolaus boosted their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Finally, 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 note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Pioneer Natural Resources presently has a consensus rating of “Hold” and an average target price of $264.10.

Insider Activity

In other news, CAO Christopher L. Washburn sold 1,416 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the completion of the sale, the chief accounting officer now owns 4,990 shares in the company, valued at $1,302,140.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction on Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the transaction, the executive vice president now directly owns 49,856 shares in the company, valued at $11,683,753.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,766 shares of company stock worth $9,067,373. 0.55% of the stock is currently owned by insiders.

Pioneer Natural Resources Price Performance

NYSE:PXD traded down $4.28 during trading hours on Tuesday, hitting $269.32. 2,086,268 shares of the company’s stock traded hands, compared to its average volume of 1,995,323. The firm has a market cap of $62.92 billion, a P/E ratio of 13.52 and a beta of 1.31. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $255.99 and its two-hundred day simple moving average is $240.15. 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 announced 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 company had revenue of $5.22 billion during 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%. 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 earned $5.91 earnings per share. On average, research analysts anticipate that Pioneer Natural Resources will post 22.47 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

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

Pioneer Natural Resources Company 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.