Pioneer Natural Resources (NYSE:PXD) Shares Sold by TCG Advisory Services LLC

TCG Advisory Services LLC reduced its stake in Pioneer Natural Resources (NYSE:PXD) by 4.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,363 shares of the oil and gas development company’s stock after selling 750 shares during the period. TCG Advisory Services LLC’s holdings in Pioneer Natural Resources were worth $3,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dai ichi Life Insurance Company Ltd grew its position in Pioneer Natural Resources by 45.5% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 21,079 shares of the oil and gas development company’s stock worth $4,839,000 after acquiring an additional 6,589 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of 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 worth $141,965,000 after purchasing an additional 531,418 shares during the period. Banco Santander S.A. increased its position in shares of Pioneer Natural Resources by 7.1% during the 3rd quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company’s stock worth $11,847,000 after purchasing an additional 3,438 shares during the last quarter. SCP Investment LP raised its holdings in Pioneer Natural Resources by 80.0% in the 3rd quarter. SCP Investment LP now owns 1,800 shares of the oil and gas development company’s stock valued at $413,000 after buying an additional 800 shares during the period. Finally, William Blair Investment Management LLC lifted its position in Pioneer Natural Resources by 34.2% in the third quarter. William Blair Investment Management LLC now owns 440,522 shares of the oil and gas development company’s stock valued at $101,122,000 after buying an additional 112,261 shares during the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

Pioneer Natural Resources Stock Performance

Shares of NYSE:PXD remained flat at $269.62 during trading hours on Friday. Pioneer Natural Resources has a 12 month low of $196.74 and a 12 month high of $278.83. The business has a fifty day moving average price of $258.20 and a 200-day moving average price of $240.69. The stock has a market cap of $62.99 billion, a P/E ratio of 13.32 and a beta of 1.28. 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 issued its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm posted $5.91 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts forecast that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were issued a $2.56 dividend. 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 payout ratio is currently 24.70%.

Insider Buying and Selling

In related news, Director Phillip A. Gobe sold 2,000 shares of the company’s stock in a transaction that occurred 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 directly owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 sale, the chief accounting officer now owns 4,990 shares in the company, valued at $1,302,140.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip A. Gobe sold 2,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock worth $9,067,373 over the last 90 days. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

PXD has been the subject of a number of recent analyst reports. Mizuho lifted their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. StockNews.com started coverage on shares of Pioneer Natural Resources in a report on Monday, April 29th. They issued a “hold” rating for the company. Stifel Nicolaus upped their price target on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Scotiabank lifted their price objective on 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. 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 note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $264.10.

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.