Gilliland Jeter Wealth Management LLC Makes New $1.09 Million Investment in Pioneer Natural Resources (NYSE:PXD)

Gilliland Jeter Wealth Management LLC bought a new position in shares of Pioneer Natural Resources (NYSE:PXD) in the fourth quarter, HoldingsChannel reports. The firm bought 4,844 shares of the oil and gas development company’s stock, valued at approximately $1,089,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PXD. Avior Wealth Management LLC raised its position in Pioneer Natural Resources by 13.5% during the third quarter. Avior Wealth Management LLC now owns 1,281 shares of the oil and gas development company’s stock worth $294,000 after acquiring an additional 152 shares during the last quarter. Meridian Wealth Management LLC raised its position in Pioneer Natural Resources by 97.6% during the third quarter. Meridian Wealth Management LLC now owns 2,422 shares of the oil and gas development company’s stock worth $556,000 after acquiring an additional 1,196 shares during the last quarter. Private Trust Co. NA raised its position in Pioneer Natural Resources by 12.7% during the third quarter. Private Trust Co. NA now owns 1,115 shares of the oil and gas development company’s stock worth $256,000 after acquiring an additional 126 shares during the last quarter. Strategic Blueprint LLC raised its position in Pioneer Natural Resources by 4.0% during the third quarter. Strategic Blueprint LLC now owns 3,589 shares of the oil and gas development company’s stock worth $824,000 after acquiring an additional 138 shares during the last quarter. Finally, Caprock Group LLC raised its position in shares of Pioneer Natural Resources by 1.5% in the third quarter. Caprock Group LLC now owns 2,855 shares of the oil and gas development company’s stock valued at $655,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Insider Activity

In other news, EVP Mark H. Kleinman sold 3,500 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 49,856 shares in the company, valued at $11,683,753.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pioneer Natural Resources news, Director J Kenneth Thompson sold 1,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $250.00, for a total transaction of $250,000.00. Following the transaction, the director now directly owns 16,070 shares in the company, valued at approximately $4,017,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $820,225.00. Following the transaction, the executive vice president now owns 49,856 shares in the company, valued at $11,683,753.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,766 shares of company stock worth $9,067,373. 0.57% of the stock is currently owned by company insiders.

Pioneer Natural Resources Trading Down 2.3 %

PXD traded down $6.28 during trading on Friday, hitting $268.87. 2,059,204 shares of the company’s stock were exchanged, compared to its average volume of 1,564,386. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year high of $278.83. The stock has a 50 day moving average price of $255.15 and a 200 day moving average price of $239.92. The firm has a market cap of $62.81 billion, a P/E ratio of 13.28 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $5.91 earnings per share. As a group, analysts expect that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 3.81%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $279.00 price objective on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Stifel Nicolaus boosted their price objective on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Mizuho upped their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Finally, Susquehanna upped their price target on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $264.10.

About Pioneer Natural Resources

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.