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

Cambridge Trust Co. lessened its stake in Pioneer Natural Resources (NYSE:PXD - Free Report) by 46.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PXD. Vanguard Group Inc. raised its holdings in shares of Pioneer Natural Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company's stock worth $4,594,616,000 after acquiring an additional 113,751 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Pioneer Natural Resources by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 4,337,964 shares of the oil and gas development company's stock worth $884,893,000 after purchasing an additional 149,026 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Pioneer Natural Resources by 46.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company's stock valued at $968,877,000 after buying an additional 1,343,601 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Pioneer Natural Resources by 7.6% in the third quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company's stock worth $748,271,000 after buying an additional 231,470 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Pioneer Natural Resources by 25.7% during the third quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company's stock valued at $743,734,000 after acquiring an additional 662,891 shares in the last quarter. Hedge funds and other institutional investors own 80.57% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on PXD. Susquehanna boosted their target price 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $279.00 target price on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Stifel Nicolaus decreased their target price on shares of 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. Scotiabank boosted their target price 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. Finally, Mizuho boosted their target price on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Pioneer Natural Resources presently has an average rating of "Hold" and a consensus target price of $259.00.

Pioneer Natural Resources Stock Performance

Pioneer Natural Resources stock traded up $0.33 during mid-day trading on Thursday, reaching $268.12. The company had a trading volume of 1,413,173 shares, compared to its average volume of 1,990,057. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. Pioneer Natural Resources has a 52 week low of $196.74 and a 52 week high of $278.83. The company has a 50 day moving average of $249.09 and a 200-day moving average of $237.70. The firm has a market cap of $62.64 billion, a price-to-earnings ratio of 13.23 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD - Get Free Report) 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, sell-side analysts expect that Pioneer Natural Resources will post 21.15 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. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources's dividend payout ratio is 24.70%.

Insider Activity

In other news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction dated 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 sale, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the sale, the chief accounting officer now owns 4,990 shares of the company's stock, valued at approximately $1,302,140.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,766 shares of company stock worth $9,067,373. 0.57% of the stock is currently owned by corporate 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.