Independence Bank of Kentucky Acquires 2,290 Shares of Pioneer Natural Resources (NYSE:PXD)

Independence Bank of Kentucky increased its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 1,526.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,440 shares of the oil and gas development company’s stock after purchasing an additional 2,290 shares during the period. Independence Bank of Kentucky’s holdings in Pioneer Natural Resources were worth $549,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. BluePath Capital Management LLC acquired a new stake in Pioneer Natural Resources during the third quarter worth approximately $29,000. Ancora Advisors LLC lifted its position in Pioneer Natural Resources by 77.4% during the first quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock worth $30,000 after acquiring an additional 65 shares during the last quarter. DecisionPoint Financial LLC acquired a new stake in Pioneer Natural Resources during the second quarter worth approximately $34,000. Carmel Capital Partners LLC acquired a new stake in Pioneer Natural Resources during the third quarter worth approximately $34,000. Finally, Jones Financial Companies Lllp lifted its position in Pioneer Natural Resources by 85.0% during the third quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock worth $34,000 after acquiring an additional 68 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the transaction, the director now owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Phillip A. Gobe sold 2,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the sale, the director now owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 approximately $1,302,140.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,766 shares of company stock valued at $9,067,373. Corporate insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Price Performance

Shares of Pioneer Natural Resources stock opened at $269.44 on Wednesday. The company’s fifty day simple moving average is $238.78 and its two-hundred day simple moving average is $234.30. The firm has a market cap of $62.95 billion, a PE ratio of 13.31 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. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $269.89.

Pioneer Natural Resources (NYSE:PXD) last issued its 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 firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.91 EPS. As a group, equities analysts expect that Pioneer Natural Resources will post 20.29 EPS for the current 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 paid a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.80%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PXD shares. Stifel Nicolaus dropped their price target on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a research report on Tuesday, January 23rd. UBS Group lowered their price objective on shares of Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Mizuho boosted their price objective on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Susquehanna boosted their price objective on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, StockNews.com assumed coverage on shares of Pioneer Natural Resources in a research report on Thursday, March 28th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $254.90.

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.