Traders Sell Shares of Pioneer Natural Resources (PXD) on Strength After Insider Selling

Traders sold shares of Pioneer Natural Resources (NYSE:PXD) on strength during trading on Friday following insider selling activity. $66.56 million flowed into the stock on the tick-up and $81.99 million flowed out of the stock on the tick-down, for a money net flow of $15.43 million out of the stock. Of all stocks tracked, Pioneer Natural Resources had the 0th highest net out-flow for the day. Pioneer Natural Resources traded up $0.13 for the day and closed at $172.47Specifically, VP Teresa A. Fairbrook sold 2,134 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $180.00, for a total value of $384,120.00. Following the transaction, the vice president now directly owns 10,284 shares in the company, valued at $1,851,120. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark H. Kleinman sold 1,150 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $180.17, for a total transaction of $207,195.50. Following the completion of the transaction, the senior vice president now owns 13,327 shares in the company, valued at $2,401,125.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,007 shares of company stock worth $3,530,333. Corporate insiders own 0.89% of the company’s stock.

A number of research firms have weighed in on PXD. Cowen set a $225.00 target price on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Thursday, January 18th. SunTrust Banks cut shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research note on Tuesday, February 6th. Piper Jaffray Companies set a $226.00 price target on shares of Pioneer Natural Resources and gave the company a “buy” rating in a research note on Friday, February 9th. UBS assumed coverage on shares of Pioneer Natural Resources in a research note on Wednesday, March 7th. They set a “buy” rating and a $215.00 price target on the stock. Finally, B. Riley assumed coverage on shares of Pioneer Natural Resources in a research note on Monday, February 5th. They set a “buy” rating and a $305.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-six have issued a buy rating to the stock. Pioneer Natural Resources has an average rating of “Buy” and an average price target of $211.33.

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The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.31. The company has a market cap of $29,865.65, a P/E ratio of 35.56, a PEG ratio of 2.61 and a beta of 0.96.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Tuesday, February 6th. The oil and gas development company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.63. Pioneer Natural Resources had a net margin of 13.69% and a return on equity of 3.45%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 48.4% compared to the same quarter last year. sell-side analysts forecast that Pioneer Natural Resources will post 6.22 earnings per share for the current fiscal year.

The company also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 29th will be paid a $0.16 dividend. The ex-dividend date is Wednesday, March 28th. This is a boost from Pioneer Natural Resources’s previous semiannual dividend of $0.04. This represents a yield of 0.18%. Pioneer Natural Resources’s dividend payout ratio is currently 1.65%.

Pioneer Natural Resources declared that its Board of Directors has approved a share buyback program on Tuesday, February 6th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas development company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Large investors have recently modified their holdings of the company. Captrust Financial Advisors bought a new position in shares of Pioneer Natural Resources in the 4th quarter worth $104,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Pioneer Natural Resources in the 4th quarter worth $129,000. Banco de Sabadell S.A bought a new position in shares of Pioneer Natural Resources in the 4th quarter worth $147,000. Guardian Capital Advisors LP bought a new position in shares of Pioneer Natural Resources in the 4th quarter worth $215,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Pioneer Natural Resources in the 3rd quarter worth $176,000. 89.36% of the stock is currently owned by hedge funds and other institutional investors.

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About Pioneer Natural Resources

Pioneer Natural Resources Company is an oil and gas exploration and production company. The Company explores for, develops and produces oil, natural gas liquids (NGLs) and gas within the United States, with operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado and the West Panhandle field in the Texas Panhandle.

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