Carnegie Capital Asset Management LLC Sells 7,033 Shares of Pioneer Natural Resources (NYSE:PXD)

Carnegie Capital Asset Management LLC decreased its position in Pioneer Natural Resources (NYSE:PXD) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,517 shares of the oil and gas development company’s stock after selling 7,033 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Pioneer Natural Resources were worth $4,164,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dai ichi Life Insurance Company Ltd lifted its holdings in Pioneer Natural Resources by 45.5% in 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 acquiring an additional 6,589 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Pioneer Natural Resources by 610.6% in the third quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock worth $141,965,000 after buying an additional 531,418 shares during the period. Banco Santander S.A. raised its stake 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 worth $11,847,000 after buying an additional 3,438 shares during the period. SCP Investment LP raised its stake 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 worth $413,000 after buying an additional 800 shares during the period. Finally, William Blair Investment Management LLC raised its stake 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 worth $101,122,000 after buying an additional 112,261 shares during the period. Institutional investors own 80.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com assumed coverage on Pioneer Natural Resources in a research note on Saturday. They issued a “hold” rating on the stock. Stifel Nicolaus decreased their price objective 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. Mizuho raised their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Truist Financial lifted 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. Finally, Susquehanna lifted their target price on Pioneer Natural Resources from $237.00 to $246.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $259.00.

Pioneer Natural Resources Stock Performance

NYSE:PXD opened at $270.80 on Monday. 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 has a 1 year low of $196.74 and a 1 year high of $278.83. The stock’s 50 day simple moving average is $246.65 and its two-hundred day simple moving average is $236.97. The company has a market cap of $63.26 billion, a price-to-earnings ratio of 13.38 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 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 analysts’ expectations 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 revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $5.91 EPS. As a group, equities analysts anticipate that Pioneer Natural Resources will post 20.88 earnings per share 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. Stockholders of record on Monday, March 4th were issued a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is 24.70%.

Insider Transactions at Pioneer Natural Resources

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction on Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the sale, the executive vice president now directly owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Phillip A. Gobe sold 2,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, EVP Mark H. Kleinman sold 3,500 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,766 shares of company stock worth $9,067,373. 0.55% of the stock is currently owned by company insiders.

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.