M&T Bank Corp Sells 1,501 Shares of Pioneer Natural Resources (NYSE:PXD)

M&T Bank Corp trimmed its holdings in Pioneer Natural Resources (NYSE:PXD) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,485 shares of the oil and gas development company’s stock after selling 1,501 shares during the quarter. M&T Bank Corp’s holdings in Pioneer Natural Resources were worth $3,708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PXD. BluePath Capital Management LLC acquired a new stake in shares of Pioneer Natural Resources in the 3rd quarter valued at $29,000. Mackenzie Financial Corp raised its holdings in Pioneer Natural Resources by 3.2% during the 3rd quarter. Mackenzie Financial Corp now owns 16,440 shares of the oil and gas development company’s stock worth $3,677,000 after purchasing an additional 504 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Pioneer Natural Resources by 2.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 92,578 shares of the oil and gas development company’s stock valued at $21,251,000 after purchasing an additional 2,312 shares during the period. Advisor Partners II LLC boosted its stake in shares of Pioneer Natural Resources by 11.6% in the 3rd quarter. Advisor Partners II LLC now owns 13,503 shares of the oil and gas development company’s stock valued at $3,100,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Dividend Assets Capital LLC grew its position in shares of Pioneer Natural Resources by 101.7% during the 3rd quarter. Dividend Assets Capital LLC now owns 363 shares of the oil and gas development company’s stock worth $83,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 80.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PXD has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $279.00 price objective on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Truist Financial lifted their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. StockNews.com assumed coverage on Pioneer Natural Resources in a research note on Tuesday. They issued a “hold” rating on the stock. Scotiabank increased their price target on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, 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 report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $264.10.

Insider Activity at Pioneer Natural Resources

In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction dated Monday, March 4th. The shares were 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 of the company’s stock, valued at approximately $11,683,753.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 462,112 shares in the company, valued at approximately $108,711,848. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,766 shares of company stock valued at $9,067,373. Insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Price Performance

Shares of PXD opened at $269.62 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a twelve month low of $196.74 and a twelve month high of $278.83. The stock has a market capitalization of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28. The company has a 50 day moving average of $260.37 and a 200-day moving average of $240.89.

Pioneer Natural Resources (NYSE:PXD) last released its 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). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the business posted $5.91 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Pioneer Natural Resources will post 22.07 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

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.