Pioneer Natural Resources (NYSE:PXD) Stock Position Lifted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,201 shares of the oil and gas development company’s stock after purchasing an additional 226 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Pioneer Natural Resources were worth $720,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Dai ichi Life Insurance Company Ltd increased its stake in shares of Pioneer Natural Resources by 45.5% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 21,079 shares of the oil and gas development company’s stock valued at $4,839,000 after acquiring an additional 6,589 shares during the period. Assenagon Asset Management S.A. raised its position in Pioneer Natural Resources by 610.6% in the third quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock worth $141,965,000 after acquiring an additional 531,418 shares in the last quarter. Banco Santander S.A. lifted its holdings in Pioneer Natural Resources by 7.1% in the 3rd quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company’s stock valued at $11,847,000 after acquiring an additional 3,438 shares during the last quarter. SCP Investment LP boosted its position in shares of Pioneer Natural Resources by 80.0% during the 3rd quarter. SCP Investment LP now owns 1,800 shares of the oil and gas development company’s stock valued at $413,000 after purchasing an additional 800 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Pioneer Natural Resources by 34.2% in the 3rd quarter. William Blair Investment Management LLC now owns 440,522 shares of the oil and gas development company’s stock worth $101,122,000 after purchasing an additional 112,261 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PXD. StockNews.com started coverage on shares of Pioneer Natural Resources in a research note on Tuesday. They set a “hold” rating for the company. Mizuho raised their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Scotiabank boosted their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Stifel Nicolaus upped their target price on Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. Finally, Truist Financial lifted their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently 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 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 directly 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 available at the SEC website. In other news, 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 value of $2,352,500.00. Following the transaction, the director now owns 462,112 shares of the company’s stock, valued at $108,711,848. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Christopher L. Washburn sold 1,416 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,766 shares of company stock worth $9,067,373. 0.55% of the stock is owned by corporate insiders.

Pioneer Natural Resources Stock Performance

Shares of NYSE PXD opened at $269.62 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.90 and a quick ratio of 0.76. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The business’s 50-day moving average price is $259.65 and its two-hundred day moving average price is $240.76. The company has a market capitalization of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results 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). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the firm posted $5.91 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal 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 paid a dividend of $2.56 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 annualized dividend and a dividend yield of 3.80%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 24.70%.

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.