SVB Wealth LLC Has $1.09 Million Holdings in Pioneer Natural Resources (NYSE:PXD)

SVB Wealth LLC trimmed its holdings in Pioneer Natural Resources (NYSE:PXD) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,846 shares of the oil and gas development company’s stock after selling 441 shares during the period. SVB Wealth LLC’s holdings in Pioneer Natural Resources were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crescent Grove Advisors LLC lifted its holdings in shares of Pioneer Natural Resources by 16.9% during the 4th quarter. Crescent Grove Advisors LLC now owns 2,163 shares of the oil and gas development company’s stock valued at $486,000 after purchasing an additional 312 shares in the last quarter. Mackenzie Financial Corp increased its stake in Pioneer Natural Resources by 25.6% during the 4th quarter. Mackenzie Financial Corp now owns 20,655 shares of the oil and gas development company’s stock worth $4,645,000 after purchasing an additional 4,215 shares in the last quarter. Cullen Investment Group LTD. acquired a new stake in Pioneer Natural Resources during the 4th quarter worth approximately $1,664,000. Waldron Private Wealth LLC lifted its stake in Pioneer Natural Resources by 1.8% in the fourth quarter. Waldron Private Wealth LLC now owns 3,676 shares of the oil and gas development company’s stock valued at $826,000 after buying an additional 64 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of Pioneer Natural Resources in the fourth quarter valued at approximately $916,000. 80.57% of the stock is owned by institutional investors and hedge funds.

Pioneer Natural Resources Stock Performance

Shares of PXD opened at $268.12 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72. The firm has a 50-day moving average of $249.82 and a 200-day moving average of $237.91. The company has a market cap of $62.64 billion, a PE ratio of 13.25 and a beta of 1.31. 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 results 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 business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. Pioneer Natural Resources’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $5.91 EPS. As a group, equities analysts forecast that Pioneer Natural Resources will post 21.15 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors 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 3.82%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s payout ratio is presently 24.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PXD shares. Scotiabank raised 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. Stifel Nicolaus dropped their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating on the stock in a research note on Tuesday, January 23rd. StockNews.com initiated coverage on Pioneer Natural Resources in a report on Saturday, April 13th. They issued a “hold” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Finally, Mizuho boosted their target price 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 analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $259.00.

Insider Activity at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction on 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 transaction, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the transaction, the director now directly owns 462,112 shares of the company’s stock, valued at approximately $108,711,848. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,766 shares of company stock worth $9,067,373. Company insiders own 0.57% of the company’s stock.

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.