Meridian Wealth Advisors LLC Buys 73 Shares of Pioneer Natural Resources (NYSE:PXD)

Meridian Wealth Advisors LLC increased its stake in Pioneer Natural Resources (NYSE:PXD) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 14,354 shares of the oil and gas development company’s stock after purchasing an additional 73 shares during the period. Meridian Wealth Advisors LLC’s holdings in Pioneer Natural Resources were worth $3,228,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in PXD. Vanguard Group Inc. raised its holdings in Pioneer Natural Resources by 0.6% in the 3rd 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 during the period. 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. Northern Trust Corp boosted its holdings in Pioneer Natural Resources by 2.2% in the 3rd quarter. Northern Trust Corp now owns 2,497,868 shares of the oil and gas development company’s stock valued at $573,386,000 after purchasing an additional 54,841 shares during the period. Ameriprise Financial Inc. increased its stake in Pioneer Natural Resources by 7.5% during the third quarter. Ameriprise Financial Inc. now owns 1,923,819 shares of the oil and gas development company’s stock valued at $443,574,000 after acquiring an additional 134,982 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Pioneer Natural Resources by 11.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,637,919 shares of the oil and gas development company’s stock worth $368,335,000 after purchasing an additional 165,560 shares during the period. Institutional investors own 80.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial lifted their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. StockNews.com assumed coverage on shares of Pioneer Natural Resources in a research report on Tuesday. They set a “hold” rating for the company. Mizuho increased their price target 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $279.00 price target on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Finally, Scotiabank lifted their price target on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Two research 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $264.10.

Pioneer Natural Resources Price Performance

Shares of PXD stock opened at $269.62 on Thursday. The firm has a market capitalization of $63.00 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. The company has a quick ratio of 0.76, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $260.37 and a 200-day moving average of $240.89.

Pioneer Natural Resources (NYSE:PXD) last released 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). The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $5.91 EPS. On average, equities research analysts forecast that Pioneer Natural Resources will post 22.07 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is 24.70%.

Insider Activity

In related news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Phillip A. Gobe sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the sale, the director now owns 11,132 shares in the company, valued at $2,906,787.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,302,140.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock worth $9,067,373 over the last three months. Corporate insiders own 0.55% of the company’s stock.

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.