Pioneer Natural Resources (NYSE:PXD) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. cut its holdings in Pioneer Natural Resources (NYSE:PXD) by 46.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,678 shares of the oil and gas development company’s stock after selling 36,554 shares during the quarter. Cambridge Trust Co.’s holdings in Pioneer Natural Resources were worth $9,373,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PXD. Hartford Financial Management Inc. lifted its stake in shares of Pioneer Natural Resources by 61.1% during 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 period. BluePath Capital Management LLC purchased a new position in shares of Pioneer Natural Resources during the third quarter valued at approximately $29,000. Ancora Advisors LLC lifted its stake in shares of Pioneer Natural Resources by 77.4% during the first quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock valued at $30,000 after buying an additional 65 shares during the period. Carmel Capital Partners LLC purchased a new position in shares of Pioneer Natural Resources during the third quarter valued at approximately $34,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Pioneer Natural Resources by 85.0% during the third quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock valued at $34,000 after buying an additional 68 shares during the period. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Pioneer Natural Resources Price Performance

Shares of PXD stock traded down $0.10 during mid-day trading on Thursday, reaching $267.69. The company’s stock had a trading volume of 524,239 shares, compared to its average volume of 1,977,622. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The company has a market cap of $62.54 billion, a P/E ratio of 13.23 and a beta of 1.31. 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 firm’s 50-day moving average is $249.09 and its two-hundred day moving average is $237.70.

Pioneer Natural Resources (NYSE:PXD) last announced 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 net margin of 25.28% and a return on equity of 22.42%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the company posted $5.91 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Pioneer Natural Resources will post 21.15 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced 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. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 24.70%.

Insider Buying and Selling

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 completion of the sale, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction, the director now owns 462,112 shares of the company’s stock, valued at approximately $108,711,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Insiders sold 36,766 shares of company stock worth $9,067,373 in the last quarter. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Pioneer Natural Resources in a report on Saturday, April 13th. They set a “hold” rating for the company. Scotiabank raised their price objective on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Susquehanna raised their price target on shares of Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Truist Financial raised their price target on shares of 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 investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $259.00.

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.