GDS Wealth Management Sells 3,097 Shares of Pioneer Natural Resources (NYSE:PXD)

GDS Wealth Management cut its holdings in Pioneer Natural Resources (NYSE:PXD - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,469 shares of the oil and gas development company's stock after selling 3,097 shares during the period. GDS Wealth Management's holdings in Pioneer Natural Resources were worth $7,077,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Pioneer Natural Resources in the third quarter worth $134,558,000. Assenagon Asset Management S.A. grew its holdings in Pioneer Natural Resources by 610.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company's stock valued at $141,965,000 after buying an additional 531,418 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Pioneer Natural Resources by 20,425.9% during the fourth quarter. International Assets Investment Management LLC now owns 302,757 shares of the oil and gas development company's stock valued at $68,084,000 after buying an additional 301,282 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of Pioneer Natural Resources in the fourth quarter worth about $61,842,000. Finally, Clearbridge Investments LLC boosted its position in shares of 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 valued at $748,271,000 after acquiring an additional 231,470 shares during the period. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PXD has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a "hold" rating in a report on Friday, April 5th. Mizuho increased their price objective 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. StockNews.com initiated coverage on Pioneer Natural Resources in a research report on Tuesday. They set a "hold" rating for the company. Stifel Nicolaus raised their price target on Pioneer Natural Resources from $237.00 to $275.00 and gave the company a "hold" rating in a report on Tuesday, April 23rd. Finally, Scotiabank upped their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a "sector perform" rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $264.10.

Insider Activity at Pioneer Natural Resources

In other news, Director Scott D. Sheffield sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $235.25, for a total value of $2,352,500.00. Following the sale, the director now directly owns 462,112 shares of the company's stock, valued at approximately $108,711,848. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the firm's 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 directly owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources 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 completion of the transaction, the chief accounting officer now directly owns 4,990 shares of the company's stock, valued at $1,302,140.50. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock valued at $9,067,373 in the last three months. Company insiders own 0.55% of the company's stock.

Pioneer Natural Resources Stock Performance

Shares of PXD remained flat at $269.62 during trading hours on Thursday. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $261.07 and a 200 day moving average of $241.09. The firm has a market cap of $63.00 billion, a PE ratio of 13.32 and a beta of 1.28.

Pioneer Natural Resources (NYSE:PXD - Get Free Report) last posted its quarterly earnings data 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). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the firm posted $5.91 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were paid a $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 annualized dividend and a dividend yield of 3.80%. Pioneer Natural Resources's payout ratio is 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.

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