Pioneer Natural Resources (NYSE:PXD) Stake Lessened by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC decreased its position in shares of Pioneer Natural Resources (NYSE:PXD) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,598 shares of the oil and gas development company’s stock after selling 17,190 shares during the period. TimesSquare Capital Management LLC owned 0.09% of Pioneer Natural Resources worth $48,259,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PXD. 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 buying an additional 6,589 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Pioneer Natural Resources by 610.6% during the third 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 purchasing an additional 531,418 shares during the last quarter. Banco Santander S.A. boosted its position in shares of Pioneer Natural Resources by 7.1% in the 3rd quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company’s stock valued at $11,847,000 after purchasing an additional 3,438 shares during the period. SCP Investment LP boosted its position in shares of 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 purchasing an additional 800 shares during the period. Finally, William Blair Investment Management LLC increased its stake in Pioneer Natural Resources by 34.2% in the 3rd quarter. William Blair Investment Management LLC now owns 440,522 shares of the oil and gas development company’s stock worth $101,122,000 after purchasing an additional 112,261 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PXD shares. Stifel Nicolaus raised their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Mizuho boosted their price objective 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. Royal Bank of Canada reiterated 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. Truist Financial boosted their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. Finally, 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 report on Thursday, April 11th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $264.10.

Pioneer Natural Resources Price Performance

NYSE:PXD remained flat at $269.62 during mid-day trading on Thursday. The firm has a market capitalization of $63.00 billion, a PE ratio of 13.32 and a beta of 1.28. The firm’s 50 day moving average is $261.07 and its two-hundred day moving average is $241.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.90 and a quick ratio of 0.76. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.41 by ($0.13). The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a return on equity of 21.21% and a net margin of 24.28%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.91 EPS. Equities analysts expect 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. Investors of record on Monday, March 4th were paid a dividend of $2.56 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 annualized dividend and a yield of 3.80%. Pioneer Natural Resources’s dividend payout ratio is 24.70%.

Insider Buying and Selling at Pioneer Natural Resources

In other 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 transaction 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 Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the transaction, the executive vice president now directly owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher L. Washburn sold 1,416 shares of the business’s 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 completion of the transaction, the chief accounting officer now directly owns 4,990 shares in the company, 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 quarter. Corporate insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Company 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.