Cadence Wealth Management LLC Buys 98 Shares of Pioneer Natural Resources (NYSE:PXD)

Cadence Wealth Management LLC lifted its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,756 shares of the oil and gas development company’s stock after acquiring an additional 98 shares during the quarter. Pioneer Natural Resources makes up approximately 0.3% of Cadence Wealth Management LLC’s holdings, making the stock its 26th biggest position. Cadence Wealth Management LLC’s holdings in Pioneer Natural Resources were worth $395,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PXD. Vanguard Group Inc. lifted its holdings in Pioneer Natural Resources by 0.6% in the 3rd 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 in the last quarter. Clearbridge Investments LLC lifted its holdings in Pioneer Natural Resources by 7.6% in the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock worth $748,271,000 after purchasing an additional 231,470 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in 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. Northern Trust Corp lifted its holdings in Pioneer Natural Resources by 2.2% in the 3rd quarter. Northern Trust Corp now owns 2,497,868 shares of the oil and gas development company’s stock worth $573,386,000 after purchasing an additional 54,841 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Pioneer Natural Resources by 7.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,923,819 shares of the oil and gas development company’s stock worth $443,574,000 after purchasing an additional 134,982 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Trading Down 2.3 %

Pioneer Natural Resources stock traded down $6.28 during mid-day trading on Friday, hitting $268.87. The company’s stock had a trading volume of 2,059,204 shares, compared to its average volume of 1,564,386. The company has a 50 day moving average of $255.15 and a 200-day moving average of $239.91. The stock has a market cap of $62.81 billion, a PE ratio of 13.28 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.

Pioneer Natural Resources (NYSE:PXD) last announced 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 business had revenue of $5.22 billion during 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 business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $5.91 EPS. On average, research analysts anticipate that Pioneer Natural Resources will post 22.47 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were given a $2.56 dividend. This represents a $10.24 annualized dividend and a yield of 3.81%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Insider Buying and Selling at Pioneer Natural Resources

In other 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 transaction of $369,505.20. Following the transaction, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 transaction of $369,505.20. Following the transaction, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the transaction, the executive vice president now directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock valued at $9,067,373 in the last quarter. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PXD has been the topic of a number of research analyst reports. StockNews.com started coverage on Pioneer Natural Resources in a report on Sunday, April 21st. They issued a “hold” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Truist Financial upped their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Stifel Nicolaus upped their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, Mizuho upped their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Pioneer Natural Resources presently has a consensus rating of “Hold” and a consensus price target of $264.10.

Pioneer Natural Resources Company 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.