Pioneer Natural Resources (NYSE:PXD) Director Sells $522,240.00 in Stock

Pioneer Natural Resources (NYSE:PXD) Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the sale, the director now directly owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pioneer Natural Resources Stock Up 1.0 %

NYSE:PXD opened at $262.50 on Friday. The firm has a market capitalization of $61.33 billion, a P/E ratio of 12.97 and a beta of 1.30. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $263.08. The company’s fifty day moving average price is $237.83 and its 200-day moving average price is $234.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data 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 during 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%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.91 EPS. As a group, equities research analysts anticipate that Pioneer Natural Resources will post 20.29 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a dividend of $2.56 per share. The ex-dividend date was Friday, March 1st. This represents a $10.24 annualized dividend and a yield of 3.90%. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

Institutional Trading of Pioneer Natural Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd grew its position in Pioneer Natural Resources by 45.5% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 21,079 shares of the oil and gas development company’s stock valued at $4,839,000 after buying an additional 6,589 shares during the period. Assenagon Asset Management S.A. grew its position in Pioneer Natural Resources by 610.6% during the third quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock valued at $141,965,000 after buying an additional 531,418 shares during the period. Banco Santander S.A. grew its position in shares of Pioneer Natural Resources by 7.1% in the third quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company’s stock valued at $11,847,000 after purchasing an additional 3,438 shares during the period. SCP Investment LP grew its position in shares of Pioneer Natural Resources by 80.0% in the third quarter. SCP Investment LP now owns 1,800 shares of the oil and gas development company’s stock valued at $413,000 after purchasing an additional 800 shares during the period. Finally, William Blair Investment Management LLC grew its position in shares of Pioneer Natural Resources by 34.2% in the third quarter. William Blair Investment Management LLC now owns 440,522 shares of the oil and gas development company’s stock valued at $101,122,000 after purchasing an additional 112,261 shares during the period. Institutional investors and hedge funds own 80.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PXD. Mizuho increased their target price on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. StockNews.com began coverage on shares of Pioneer Natural Resources in a research report on Thursday. They set a “hold” rating for the company. UBS Group decreased their target price on shares of Pioneer Natural Resources from $269.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Susquehanna increased their target price on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, Stifel Nicolaus decreased their price target on shares of Pioneer Natural Resources from $243.00 to $224.00 and set a “hold” rating for the company in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Pioneer Natural Resources currently has a consensus rating of “Hold” and an average target price of $254.90.

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.