IMA Wealth Inc. Reduces Stock Holdings in Pioneer Natural Resources (NYSE:PXD)

IMA Wealth Inc. reduced its stake in shares of Pioneer Natural Resources (NYSE:PXDGet Rating) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,997 shares of the oil and gas development company’s stock after selling 227 shares during the quarter. Pioneer Natural Resources accounts for approximately 0.9% of IMA Wealth Inc.’s holdings, making the stock its 23rd largest holding. IMA Wealth Inc.’s holdings in Pioneer Natural Resources were worth $4,183,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. AdvisorNet Financial Inc grew its stake in Pioneer Natural Resources by 4.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,081 shares of the oil and gas development company’s stock valued at $197,000 after purchasing an additional 50 shares in the last quarter. Telemus Capital LLC grew its stake in Pioneer Natural Resources by 3.1% during the 4th quarter. Telemus Capital LLC now owns 1,839 shares of the oil and gas development company’s stock valued at $334,000 after purchasing an additional 56 shares in the last quarter. Column Capital Advisors LLC grew its stake in Pioneer Natural Resources by 25.1% during the 4th quarter. Column Capital Advisors LLC now owns 279 shares of the oil and gas development company’s stock valued at $51,000 after purchasing an additional 56 shares in the last quarter. Montecito Bank & Trust grew its stake in Pioneer Natural Resources by 1.9% during the 4th quarter. Montecito Bank & Trust now owns 3,095 shares of the oil and gas development company’s stock valued at $563,000 after purchasing an additional 58 shares in the last quarter. Finally, Hilltop Holdings Inc. grew its stake in Pioneer Natural Resources by 4.6% during the 4th quarter. Hilltop Holdings Inc. now owns 1,470 shares of the oil and gas development company’s stock valued at $267,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 87.65% of the company’s stock.

Pioneer Natural Resources stock traded up $2.20 during mid-day trading on Thursday, hitting $280.06. 75,805 shares of the company’s stock traded hands, compared to its average volume of 2,536,015. The firm has a 50 day moving average price of $252.00 and a 200 day moving average price of $220.81. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt-to-equity ratio of 0.23. The company has a market cap of $67.76 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 0.96 and a beta of 1.53. Pioneer Natural Resources has a one year low of $133.73 and a one year high of $279.98.

Pioneer Natural Resources (NYSE:PXDGet Rating) last announced its earnings results on Wednesday, May 4th. The oil and gas development company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.32 by $0.42. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.99 billion. Pioneer Natural Resources had a return on equity of 21.01% and a net margin of 22.85%. The firm’s revenue for the quarter was up 152.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 EPS. On average, analysts expect that Pioneer Natural Resources will post 32.49 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 31st will be paid a dividend of $7.38 per share. The ex-dividend date is Friday, May 27th. This represents a $29.52 annualized dividend and a yield of 10.54%. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.78. Pioneer Natural Resources’s payout ratio is presently 15.09%.

PXD has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on Pioneer Natural Resources from $255.00 to $275.00 in a research note on Friday, February 18th. StockNews.com started coverage on Pioneer Natural Resources in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler lifted their target price on Pioneer Natural Resources to $345.00 and gave the stock a “na” rating in a research report on Wednesday, May 18th. Zacks Investment Research upgraded Pioneer Natural Resources from a “hold” rating to a “strong-buy” rating and set a $256.00 target price for the company in a research report on Friday, February 4th. Finally, Mizuho lifted their target price on Pioneer Natural Resources from $266.00 to $343.00 and gave the stock a “buy” rating in a research report on Thursday, March 31st. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Pioneer Natural Resources presently has an average rating of “Buy” and a consensus price target of $278.05.

In related news, CAO Margaret Montemayor sold 3,855 shares of Pioneer Natural Resources stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $239.21, for a total value of $922,154.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Larry R. Grillot sold 500 shares of Pioneer Natural Resources stock in a transaction on Monday, February 28th. The stock was sold at an average price of $234.37, for a total value of $117,185.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,502 shares of company stock worth $24,950,261 in the last ninety days. 0.55% of the stock is owned by company insiders.

Pioneer Natural Resources Company Profile (Get Rating)

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. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants.

Further Reading

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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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