Chevy Chase Trust Holdings LLC Trims Stake in Pioneer Natural Resources (NYSE:PXD)

Chevy Chase Trust Holdings LLC reduced its stake in Pioneer Natural Resources (NYSE:PXD) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,331 shares of the oil and gas development company’s stock after selling 780 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Pioneer Natural Resources were worth $29,309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PXD. T. Rowe Price Investment Management Inc. boosted its position in shares of Pioneer Natural Resources by 46.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock worth $968,877,000 after purchasing an additional 1,343,601 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Pioneer Natural Resources by 75,598.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 996,195 shares of the oil and gas development company’s stock worth $227,521,000 after purchasing an additional 994,879 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Pioneer Natural Resources by 25.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after purchasing an additional 662,891 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Pioneer Natural Resources in the 3rd quarter worth approximately $134,558,000. Finally, Assenagon Asset Management S.A. boosted 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 worth $141,965,000 after purchasing an additional 531,418 shares in the last quarter. 80.57% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction 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 approximately $1,302,140.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction 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 approximately $1,302,140.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction on Thursday, March 28th. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders sold 36,766 shares of company stock worth $9,067,373. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial boosted their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday. UBS Group dropped their price target on Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. StockNews.com began coverage on Pioneer Natural Resources in a research report on Friday. They issued a “hold” rating on the stock. Mizuho upped their price objective 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. Finally, Stifel Nicolaus lowered their price objective on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating on the stock in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $256.90.

Pioneer Natural Resources Price Performance

NYSE PXD opened at $272.78 on Friday. The business’s fifty day moving average price is $241.55 and its 200-day moving average price is $235.03. The stock has a market capitalization of $63.73 billion, a price-to-earnings ratio of 13.48 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. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $274.67.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data 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). The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $5.91 earnings per share. On average, equities analysts predict that Pioneer Natural Resources will post 20.29 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. Shareholders of record on Monday, March 4th were paid a $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a yield of 3.75%. Pioneer Natural Resources’s payout ratio is presently 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.