Pioneer Natural Resources (NYSE:PXD) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Pioneer Natural Resources (NYSE:PXD) by 76.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,910 shares of the oil and gas development company’s stock after selling 6,270 shares during the quarter. Federated Hermes Inc.’s holdings in Pioneer Natural Resources were worth $430,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Western Pacific Wealth Management LP grew its position in Pioneer Natural Resources by 20.0% in the third quarter. Western Pacific Wealth Management LP now owns 264 shares of the oil and gas development company’s stock valued at $61,000 after acquiring an additional 44 shares in the last quarter. Hartford Financial Management Inc. grew its position in Pioneer Natural Resources by 61.1% in the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock valued at $26,000 after acquiring an additional 44 shares in the last quarter. Financial Management Professionals Inc. grew its position in Pioneer Natural Resources by 19.1% in the fourth quarter. Financial Management Professionals Inc. now owns 281 shares of the oil and gas development company’s stock valued at $63,000 after acquiring an additional 45 shares in the last quarter. Tlwm grew its position in Pioneer Natural Resources by 1.3% in the fourth quarter. Tlwm now owns 3,576 shares of the oil and gas development company’s stock valued at $804,000 after acquiring an additional 46 shares in the last quarter. Finally, Stratos Wealth Advisors LLC grew its position in Pioneer Natural Resources by 2.3% in the fourth quarter. Stratos Wealth Advisors LLC now owns 2,075 shares of the oil and gas development company’s stock valued at $467,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Analyst Ratings Changes

PXD has been the subject of several research analyst reports. Truist Financial increased their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Mizuho increased 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. Stifel Nicolaus increased their target price on Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Scotiabank increased their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $279.00 target price on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Pioneer Natural Resources presently has a consensus rating of “Hold” and an average target price of $264.10.

Insider Activity

In other news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction 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 directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Phillip A. Gobe sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the transaction, the director now directly owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 462,112 shares in the company, valued at $108,711,848. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,766 shares of company stock valued at $9,067,373. Company insiders own 0.57% of the company’s stock.

Pioneer Natural Resources Stock Performance

PXD stock opened at $269.62 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. The stock has a market capitalization of $62.99 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year high of $278.83. The stock’s fifty day moving average is $258.20 and its two-hundred day moving average is $240.69.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.91 earnings per share. On average, research analysts predict that Pioneer Natural Resources will post 22.47 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders 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 3.80%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is 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.