Alpha Cubed Investments LLC Invests $268,000 in Pioneer Natural Resources (NYSE:PXD)

Alpha Cubed Investments LLC bought a new position in Pioneer Natural Resources (NYSE:PXD) in the 4th quarter, HoldingsChannel.com reports. The fund bought 1,191 shares of the oil and gas development company’s stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dai ichi Life Insurance Company Ltd boosted its stake in shares of Pioneer Natural Resources by 45.5% in the 3rd 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 purchasing an additional 6,589 shares in the last quarter. Assenagon Asset Management S.A. boosted 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 stake in shares of Pioneer Natural Resources by 7.1% during 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 buying an additional 3,438 shares during the last quarter. SCP Investment LP increased its holdings 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 increased its holdings 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. 80.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction that occurred 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 in the company, valued at $108,711,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 transaction of $820,225.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction dated 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 completion of the transaction, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock valued at $9,067,373 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Pioneer Natural Resources Stock Down 0.5 %

Shares of NYSE:PXD opened at $267.85 on Thursday. The firm has a market capitalization of $62.58 billion, a P/E ratio of 13.23 and a beta of 1.28. 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 50 day moving average price of $257.48 and a 200-day moving average price of $240.49. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data 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). Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company posted $5.91 EPS. Pioneer Natural Resources’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were paid a dividend of $2.56 per share. This represents a $10.24 annualized dividend and a yield of 3.82%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s payout ratio is currently 24.70%.

Wall Street Analysts Forecast Growth

PXD has been the topic of several recent research reports. Royal Bank of Canada restated a “sector perform” rating and set a $279.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Stifel Nicolaus raised their target price on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Truist Financial upped their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. StockNews.com started coverage on shares of Pioneer Natural Resources in a report on Monday. They issued a “hold” rating on the stock. Finally, Susquehanna boosted their price objective on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $264.10.

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.