141,570 Shares in Pioneer Natural Resources (NYSE:PXD) Purchased by Readystate Asset Management LP

Readystate Asset Management LP purchased a new position in Pioneer Natural Resources (NYSE:PXD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 141,570 shares of the oil and gas development company’s stock, valued at approximately $31,836,000. Pioneer Natural Resources makes up about 1.0% of Readystate Asset Management LP’s portfolio, making the stock its 14th biggest holding.

Several other institutional investors have also modified their holdings of PXD. Vanguard Group Inc. increased its holdings in Pioneer Natural Resources by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 20,256,685 shares of the oil and gas development company’s stock valued at $4,555,323,000 after buying an additional 240,934 shares during the last quarter. Geode Capital Management LLC increased its holdings in Pioneer Natural Resources by 3.6% in the first quarter. Geode Capital Management LLC now owns 4,337,964 shares of the oil and gas development company’s stock valued at $884,893,000 after buying an additional 149,026 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Pioneer Natural Resources by 46.4% during the fourth 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 purchasing an additional 1,343,601 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Pioneer Natural Resources by 7.6% during the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock worth $748,271,000 after purchasing an additional 231,470 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Pioneer Natural Resources by 25.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after purchasing an additional 662,891 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Insider Buying and Selling

In related news, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the transaction, the director now owns 11,132 shares in the company, valued at approximately $2,906,787.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 4,990 shares in the company, valued at approximately $1,302,140.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the transaction, the director now owns 11,132 shares of the company’s stock, valued at approximately $2,906,787.84. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock valued at $9,067,373 over the last three months. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PXD. Susquehanna upped their price objective on Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Mizuho increased their target price 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. Scotiabank increased their target price on 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. Royal Bank of Canada reaffirmed 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. Finally, Truist Financial increased their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $259.00.

Pioneer Natural Resources Price Performance

NYSE:PXD traded up $0.53 during mid-day trading on Wednesday, reaching $267.79. 1,150,690 shares of the stock were exchanged, compared to its average volume of 1,997,846. The business has a fifty day moving average price of $249.09 and a 200 day moving average price of $237.70. The firm has a market capitalization of $62.56 billion, a PE ratio of 13.23 and a beta of 1.31. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results 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). The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. Pioneer Natural Resources’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.91 earnings per share. Research analysts expect that Pioneer Natural Resources will post 20.79 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were issued a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s payout ratio is currently 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.