Clearstead Trust LLC Has $499,000 Stock Holdings in Pioneer Natural Resources (NYSE:PXD)

Clearstead Trust LLC reduced its holdings in Pioneer Natural Resources (NYSE:PXD) by 5.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,220 shares of the oil and gas development company’s stock after selling 134 shares during the quarter. Clearstead Trust LLC’s holdings in Pioneer Natural Resources were worth $499,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Pioneer Natural Resources in the third quarter valued at $134,558,000. Assenagon Asset Management S.A. grew its position in shares of Pioneer Natural Resources by 610.6% in 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 last quarter. International Assets Investment Management LLC increased its stake in shares of Pioneer Natural Resources by 20,425.9% in the fourth quarter. International Assets Investment Management LLC now owns 302,757 shares of the oil and gas development company’s stock valued at $68,084,000 after buying an additional 301,282 shares during the period. Clearbridge Investments LLC grew its holdings in Pioneer Natural Resources by 7.6% during the third quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock worth $748,271,000 after buying an additional 231,470 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Pioneer Natural Resources by 31.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 778,839 shares of the oil and gas development company’s stock valued at $178,782,000 after acquiring an additional 184,186 shares in the last quarter. Institutional investors own 80.57% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PXD. Stifel Nicolaus increased their target price on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. Truist Financial boosted their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Susquehanna increased their price target on Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Mizuho boosted their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Finally, Scotiabank increased their target price on shares of 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. Two equities 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 stock. According to data from MarketBeat, Pioneer Natural Resources currently has an average rating of “Hold” and a consensus price target of $264.10.

Insider Buying and Selling at Pioneer Natural Resources

In other news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $234.35, for a total value of $820,225.00. Following the transaction, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the 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 transaction, the director now directly owns 462,112 shares in the company, valued at $108,711,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock worth $9,067,373 over the last three months. 0.57% of the stock is owned by insiders.

Pioneer Natural Resources Stock Performance

Shares of PXD remained flat at $269.62 during mid-day trading on Friday. The company has a market capitalization of $62.99 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The company’s 50-day moving average price is $258.94 and its 200-day moving average price is $240.84. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21.

Pioneer Natural Resources (NYSE:PXD) last posted its 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 return on equity of 22.42% and a net margin of 25.28%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the firm earned $5.91 earnings per share. Pioneer Natural Resources’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend 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.