Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in Pioneer Natural Resources (NYSE:PXD)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Pioneer Natural Resources (NYSE:PXD) by 62.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,078 shares of the oil and gas development company’s stock after selling 149,230 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pioneer Natural Resources were worth $20,257,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new stake in Pioneer Natural Resources during the 1st quarter valued at $42,000. Cetera Advisor Networks LLC boosted its position in Pioneer Natural Resources by 59.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,074 shares of the oil and gas development company’s stock valued at $519,000 after buying an additional 774 shares during the period. Cetera Investment Advisers boosted its position in Pioneer Natural Resources by 52.1% during the 1st quarter. Cetera Investment Advisers now owns 3,249 shares of the oil and gas development company’s stock valued at $812,000 after buying an additional 1,113 shares during the period. Baird Financial Group Inc. boosted its position in Pioneer Natural Resources by 22.6% during the 1st quarter. Baird Financial Group Inc. now owns 108,614 shares of the oil and gas development company’s stock valued at $27,157,000 after buying an additional 20,023 shares during the period. Finally, Mather Group LLC. boosted its position in Pioneer Natural Resources by 35.9% during the 1st quarter. Mather Group LLC. now owns 3,430 shares of the oil and gas development company’s stock valued at $858,000 after buying an additional 907 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Stock Up 0.2 %

Shares of Pioneer Natural Resources stock opened at $267.79 on Thursday. The firm has a market cap of $62.56 billion, a price-to-earnings ratio of 13.23 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 $278.83. The company has a 50-day moving average of $249.09 and a 200 day moving average of $237.70.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data 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 firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.91 earnings per share. As a group, sell-side analysts anticipate that Pioneer Natural Resources will post 21.15 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. Shareholders of record on Monday, March 4th were paid a dividend of $2.56 per share. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a yield of 3.82%. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Susquehanna increased their price target 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. Mizuho increased their price target 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. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Scotiabank upped their price objective on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus decreased their price objective on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $259.00.

Insider Buying and Selling at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Mark H. Kleinman sold 3,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the sale, 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 SEC, which is accessible through this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 462,112 shares in the company, valued at approximately $108,711,848. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,766 shares of company stock worth $9,067,373. 0.57% of the stock is owned by corporate insiders.

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.