Pioneer Natural Resources (NYSE:PXD) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust cut its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 37.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 513 shares of the oil and gas development company’s stock after selling 313 shares during the period. Parkside Financial Bank & Trust’s holdings in Pioneer Natural Resources were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Pioneer Natural Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company’s stock worth $4,594,616,000 after purchasing an additional 113,751 shares during the period. Clearbridge Investments LLC lifted its holdings in Pioneer Natural Resources by 7.6% in the third quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock valued at $748,271,000 after acquiring an additional 231,470 shares during the period. Bank of New York Mellon Corp lifted its holdings in Pioneer Natural Resources by 25.7% in the third quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock valued at $743,734,000 after acquiring an additional 662,891 shares during the period. Northern Trust Corp lifted its holdings in Pioneer Natural Resources by 2.2% in the third quarter. Northern Trust Corp now owns 2,497,868 shares of the oil and gas development company’s stock valued at $573,386,000 after acquiring an additional 54,841 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Pioneer Natural Resources by 7.5% in the third quarter. Ameriprise Financial Inc. now owns 1,923,819 shares of the oil and gas development company’s stock valued at $443,574,000 after acquiring an additional 134,982 shares during the period. 80.57% of the stock is owned by institutional investors and hedge funds.

Pioneer Natural Resources Price Performance

Shares of PXD opened at $275.52 on Thursday. The firm has a market capitalization of $64.37 billion, a price-to-earnings ratio of 13.61 and a beta of 1.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The stock’s fifty day moving average is $253.53 and its 200-day moving average is $239.42.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. Pioneer Natural Resources’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $5.91 earnings per share. Equities analysts anticipate that Pioneer Natural Resources will post 22.11 EPS for the current 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 issued a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is 24.70%.

Insider Activity

In other news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was 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 of the company’s stock, valued at $108,711,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the transaction, the director now owns 462,112 shares of the company’s stock, valued at $108,711,848. 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 firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the transaction, the director now directly 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. Over the last ninety days, insiders have sold 36,766 shares of company stock valued at $9,067,373. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PXD. StockNews.com began coverage on Pioneer Natural Resources in a report on Sunday. They issued a “hold” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Scotiabank lifted their price target on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Truist Financial lifted their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. Finally, Mizuho lifted 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. 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 MarketBeat, Pioneer Natural Resources has an average rating of “Hold” and an average target price of $264.10.

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.