Short Interest in Pioneer Natural Resources (NYSE:PXD) Declines By 21.4%


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Pioneer Natural Resources (NYSE:PXD) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 6,850,000 shares, a drop of 21.4% from the March 31st total of 8,710,000 shares. Based on an average daily trading volume, of 2,500,000 shares, the short-interest ratio is presently 2.7 days.

Several equities research analysts recently weighed in on PXD shares. Barclays boosted their price target on shares of Pioneer Natural Resources from $151.00 to $153.00 and gave the stock an “overweight” rating in a research report on Thursday, January 14th. Johnson Rice reissued a “hold” rating and set a $180.00 target price on shares of Pioneer Natural Resources in a research note on Monday, March 15th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $143.00 target price on shares of Pioneer Natural Resources in a report on Monday, March 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $177.00 price target on shares of Pioneer Natural Resources in a report on Tuesday, April 13th. Finally, Wolfe Research reiterated a “peer perform” rating and issued a $167.00 price target (down previously from $188.00) on shares of Pioneer Natural Resources in a report on Thursday, April 29th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $172.03.

NYSE:PXD traded down $0.21 during trading hours on Tuesday, reaching $158.45. 1,780,115 shares of the stock were exchanged, compared to its average volume of 2,616,448. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The firm has a 50 day simple moving average of $155.54 and a 200-day simple moving average of $126.78. Pioneer Natural Resources has a 52 week low of $76.48 and a 52 week high of $169.49. The stock has a market capitalization of $34.32 billion, a P/E ratio of 155.34, a P/E/G ratio of 2.72 and a beta of 1.92.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Tuesday, May 4th. The oil and gas development company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.35. Pioneer Natural Resources had a return on equity of 4.67% and a net margin of 2.30%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.15 EPS. Pioneer Natural Resources’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts expect that Pioneer Natural Resources will post 1.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 30th. Pioneer Natural Resources’s dividend payout ratio is presently 27.38%.

In related news, CEO Scott D. Sheffield sold 29,882 shares of the business’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $162.73, for a total value of $4,862,697.86. Following the sale, the chief executive officer now owns 456,949 shares in the company, valued at $74,359,310.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Kenneth Thompson sold 1,500 shares of the business’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $165.76, for a total transaction of $248,640.00. Following the completion of the sale, the director now owns 15,669 shares in the company, valued at approximately $2,597,293.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,338 shares of company stock worth $8,536,408. Company insiders own 0.91% of the company’s stock.

Several institutional investors have recently made changes to their positions in PXD. Vantage Consulting Group Inc acquired a new stake in shares of Pioneer Natural Resources during the 4th quarter worth approximately $26,000. Childress Capital Advisors LLC acquired a new stake in shares of Pioneer Natural Resources during the 4th quarter worth approximately $28,000. Contravisory Investment Management Inc. acquired a new stake in shares of Pioneer Natural Resources during the 1st quarter worth approximately $28,000. CX Institutional increased its position in Pioneer Natural Resources by 37.8% in the 1st quarter. CX Institutional now owns 255 shares of the oil and gas development company’s stock valued at $40,000 after acquiring an additional 70 shares during the period. Finally, Lindbrook Capital LLC increased its position in Pioneer Natural Resources by 330.6% in the 1st quarter. Lindbrook Capital LLC now owns 267 shares of the oil and gas development company’s stock valued at $42,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 89.92% 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 Permian Basin in West Texas. As of December 31, 2020, the company had proved undeveloped reserves and proved developed non-producing reserves of 31 million barrels of oil, 17 million barrels of NGLs, and 88 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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