Meridian Wealth Advisors LLC Has $3.23 Million Stake in Pioneer Natural Resources (NYSE:PXD)

Meridian Wealth Advisors LLC raised its position in Pioneer Natural Resources (NYSE:PXD) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,354 shares of the oil and gas development company’s stock after acquiring an additional 73 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Pioneer Natural Resources were worth $3,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hartford Financial Management Inc. lifted its position in shares of 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 buying an additional 44 shares during the last quarter. BluePath Capital Management LLC acquired a new position in shares of Pioneer Natural Resources in the third quarter valued at $29,000. Carmel Capital Partners LLC bought a new position in shares of Pioneer Natural Resources in the third quarter valued at about $34,000. Jones Financial Companies Lllp lifted its stake in shares of Pioneer Natural Resources by 85.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock worth $34,000 after buying an additional 68 shares during the last quarter. Finally, OLD Second National Bank of Aurora bought a new stake in shares of Pioneer Natural Resources during the 4th quarter worth about $34,000. Institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Price Performance

Shares of PXD opened at $269.62 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 0.90. Pioneer Natural Resources has a 52 week low of $196.74 and a 52 week high of $278.83. The stock has a market capitalization of $63.00 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28. The stock has a fifty day moving average of $260.37 and a 200-day moving average of $240.89.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly 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). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The company 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 firm posted $5.91 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders 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 3.80%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Analyst Upgrades and Downgrades

PXD has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Scotiabank raised their price target on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. StockNews.com assumed coverage on shares of Pioneer Natural Resources in a research report on Tuesday. They set a “hold” rating on the stock. Susquehanna lifted their price target 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. Finally, Truist Financial increased their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $264.10.

Insider Buying and Selling

In other news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Scott D. Sheffield sold 10,000 shares of the business’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 sale, the director now directly owns 462,112 shares in the company, valued at approximately $108,711,848. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the transaction, the chief accounting officer now owns 4,990 shares in the company, valued at approximately $1,302,140.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,766 shares of company stock worth $9,067,373. 0.55% of the stock is owned by 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.