Meritage Portfolio Management Boosts Position in Pioneer Natural Resources (NYSE:PXD)

Meritage Portfolio Management increased its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 7.1% in the fourth quarter, HoldingsChannel reports. The firm owned 76,684 shares of the oil and gas development company’s stock after buying an additional 5,095 shares during the period. Pioneer Natural Resources makes up approximately 1.1% of Meritage Portfolio Management’s investment portfolio, making the stock its 16th largest position. Meritage Portfolio Management’s holdings in Pioneer Natural Resources were worth $17,245,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PXD. Proficio Capital Partners LLC grew its position in shares of Pioneer Natural Resources by 4.0% in the third quarter. Proficio Capital Partners LLC now owns 1,030 shares of the oil and gas development company’s stock valued at $236,000 after purchasing an additional 40 shares in the last quarter. Caprock Group LLC grew its position in shares of Pioneer Natural Resources by 1.5% in the 3rd quarter. Caprock Group LLC now owns 2,855 shares of the oil and gas development company’s stock valued at $655,000 after buying an additional 41 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Pioneer Natural Resources by 3.1% in the third quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock valued at $330,000 after acquiring an additional 43 shares during the period. Western Pacific Wealth Management LP raised its stake in shares of Pioneer Natural Resources by 20.0% during the third quarter. Western Pacific Wealth Management LP now owns 264 shares of the oil and gas development company’s stock worth $61,000 after purchasing an additional 44 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its holdings in 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 worth $26,000 after purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PXD. Truist Financial upped their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Stifel Nicolaus raised their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a report on Tuesday. Scotiabank upped their target price on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Susquehanna boosted their target price on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Mizuho boosted their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $264.10.

Insider Buying and Selling at Pioneer Natural Resources

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the 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 sale, the executive vice president now 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 can be accessed through this hyperlink. In other news, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction on 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 $11,683,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jerome D. Hall, Jr. sold 7,000 shares of Pioneer Natural Resources stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $250.74, for a total value of $1,755,180.00. Following the sale, the executive vice president now directly owns 76,885 shares of the company’s stock, valued at approximately $19,278,144.90. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock worth $9,067,373 over the last quarter. Insiders own 0.57% of the company’s stock.

Pioneer Natural Resources Trading Down 1.9 %

Shares of NYSE PXD traded down $5.31 during midday trading on Friday, reaching $269.84. The company had a trading volume of 1,350,426 shares, compared to its average volume of 1,984,125. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average price is $254.41 and its 200-day moving average price is $239.67. The stock has a market cap of $63.04 billion, a PE ratio of 13.36 and a beta of 1.31. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate 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%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.91 EPS. On average, equities research analysts anticipate that Pioneer Natural Resources will post 22.47 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a yield of 3.79%. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

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.