Harvest Fund Management Co. Ltd Sells 474 Shares of Pioneer Natural Resources (NYSE:PXD)

Harvest Fund Management Co. Ltd reduced its stake in Pioneer Natural Resources (NYSE:PXD) by 36.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 820 shares of the oil and gas development company’s stock after selling 474 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Pioneer Natural Resources were worth $185,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hartford Financial Management Inc. increased its holdings in Pioneer Natural Resources by 61.1% during the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after purchasing an additional 44 shares during the period. BluePath Capital Management LLC bought a new stake in shares of Pioneer Natural Resources in the third quarter valued at about $29,000. Carmel Capital Partners LLC purchased a new stake in Pioneer Natural Resources in the third quarter worth about $34,000. Jones Financial Companies Lllp grew its holdings in Pioneer Natural Resources by 85.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock worth $34,000 after acquiring an additional 68 shares in the last quarter. Finally, OLD Second National Bank of Aurora purchased a new position in Pioneer Natural Resources during the 4th quarter valued at about $34,000. 80.57% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the transaction, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Mark H. Kleinman sold 3,500 shares of the business’s 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 transaction, the executive vice president now owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the sale, the director now owns 462,112 shares of the company’s stock, valued at $108,711,848. The disclosure for this sale can be found here. In the last three months, insiders sold 36,766 shares of company stock worth $9,067,373. Corporate insiders own 0.57% of the company’s stock.

Pioneer Natural Resources Stock Performance

Shares of PXD stock opened at $276.79 on Thursday. 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 has a 12-month low of $196.74 and a 12-month high of $278.83. The business’s 50 day moving average is $253.53 and its two-hundred day moving average is $239.42. The company has a market capitalization of $64.66 billion, a P/E ratio of 13.61 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.91 EPS. Analysts expect that Pioneer Natural Resources will post 22.11 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were issued a $2.56 dividend. This represents a $10.24 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s payout ratio is 24.70%.

Analyst Ratings Changes

PXD has been the topic of several research reports. Truist Financial lifted their price objective 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. Scotiabank boosted their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Mizuho raised their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Susquehanna lifted their price objective on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, StockNews.com initiated coverage on shares of Pioneer Natural Resources in a research report on Sunday. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.