Everence Capital Management Inc. Sells 13,360 Shares of Pioneer Natural Resources (NYSE:PXD)

Everence Capital Management Inc. reduced its stake in shares of Pioneer Natural Resources (NYSE:PXD - Free Report) by 33.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,020 shares of the oil and gas development company's stock after selling 13,360 shares during the quarter. Everence Capital Management Inc.'s holdings in Pioneer Natural Resources were worth $6,076,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PXD. Fairfield Bush & CO. purchased a new stake in Pioneer Natural Resources during the 1st quarter worth approximately $42,000. Cetera Advisor Networks LLC increased its holdings in Pioneer Natural Resources by 59.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,074 shares of the oil and gas development company's stock worth $519,000 after purchasing an additional 774 shares during the last quarter. Cetera Investment Advisers increased its holdings in Pioneer Natural Resources by 52.1% during the 1st quarter. Cetera Investment Advisers now owns 3,249 shares of the oil and gas development company's stock worth $812,000 after purchasing an additional 1,113 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Pioneer Natural Resources by 22.6% during the 1st quarter. Baird Financial Group Inc. now owns 108,614 shares of the oil and gas development company's stock worth $27,157,000 after purchasing an additional 20,023 shares during the last quarter. Finally, Mather Group LLC. grew its position in shares of Pioneer Natural Resources by 35.9% in the 1st quarter. Mather Group LLC. now owns 3,430 shares of the oil and gas development company's stock worth $858,000 after acquiring an additional 907 shares in the last quarter. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director J Kenneth Thompson sold 1,000 shares of the company's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the sale, the director now owns 16,070 shares in the company, valued at $4,017,500. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Christopher L. Washburn sold 1,416 shares of the company's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the sale, the chief accounting officer now directly owns 4,990 shares of the company's stock, valued at $1,302,140.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Kenneth Thompson sold 1,000 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the sale, the director now directly owns 16,070 shares of the company's stock, valued at $4,017,500. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock worth $9,067,373 over the last 90 days. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PXD. StockNews.com began coverage on Pioneer Natural Resources in a research report on Saturday. They issued a "hold" rating for the company. Scotiabank lifted their target price on 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. Truist Financial lifted their target price 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. Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 19th. Finally, Stifel Nicolaus decreased their target price on Pioneer Natural Resources from $243.00 to $224.00 and set a "hold" rating for the company in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $259.00.

Pioneer Natural Resources Stock Performance

Shares of NYSE:PXD traded down $1.78 on Tuesday, hitting $267.22. The company's stock had a trading volume of 1,818,854 shares, compared to its average volume of 2,009,445. Pioneer Natural Resources has a 12 month low of $196.74 and a 12 month high of $278.83. The company has a market capitalization of $62.43 billion, a price-to-earnings ratio of 13.20 and a beta of 1.31. The stock's 50-day moving average is $248.29 and its two-hundred day moving average is $237.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88.

Pioneer Natural Resources (NYSE:PXD - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.41 by ($0.13). The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $5.91 EPS. On average, equities research analysts forecast that Pioneer Natural Resources will post 20.88 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were issued a $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 annualized dividend and a dividend yield of 3.83%. Pioneer Natural Resources's dividend payout ratio (DPR) is 24.70%.

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.