Cullen Frost Bankers Inc. Buys 3,614 Shares of Pioneer Natural Resources (NYSE:PXD)

Cullen Frost Bankers Inc. lifted its stake in shares of Pioneer Natural Resources (NYSE:PXD - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,739 shares of the oil and gas development company's stock after purchasing an additional 3,614 shares during the period. Cullen Frost Bankers Inc.'s holdings in Pioneer Natural Resources were worth $9,611,000 at the end of the most recent quarter.

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

Pioneer Natural Resources Price Performance

PXD remained flat at $269.62 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83. The firm has a market capitalization of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28. The firm has a 50 day moving average of $260.37 and a 200-day moving average of $240.89.

Pioneer Natural Resources (NYSE:PXD - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts' consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a return on equity of 21.21% and a net margin of 24.28%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the company posted $5.91 EPS. The business's revenue was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that Pioneer Natural Resources will post 22.07 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were issued a dividend of $2.56 per share. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.80%. Pioneer Natural Resources's dividend payout ratio (DPR) is currently 24.70%.

Insider Buying and Selling

In other Pioneer Natural Resources news, Director J Kenneth Thompson sold 1,000 shares of Pioneer Natural Resources stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the transaction, the director now owns 16,070 shares in the company, valued at $4,017,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director J Kenneth Thompson sold 1,000 shares of Pioneer Natural Resources stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $250.00, for a total transaction of $250,000.00. Following the sale, the director now directly owns 16,070 shares of the company's stock, valued at approximately $4,017,500. The sale was disclosed in a legal 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 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 disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock worth $9,067,373 in the last ninety days. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PXD. Susquehanna upped their price objective on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a "neutral" rating in a research note on Monday, April 22nd. StockNews.com started coverage on shares of Pioneer Natural Resources in a research report on Tuesday. They set a "hold" rating for the company. Truist Financial increased their price objective on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a "hold" rating in a research report on Friday, April 5th. Stifel Nicolaus lifted their target price on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a "hold" rating in a report on Tuesday, April 23rd. Finally, Scotiabank upped their price target on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a "sector perform" rating in a research note on Thursday, April 11th. 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $264.10.

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.

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