LGT Group Foundation Acquires 2,926 Shares of Pioneer Natural Resources (NYSE:PXD)

LGT Group Foundation increased its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 61,001 shares of the oil and gas development company’s stock after acquiring an additional 2,926 shares during the period. LGT Group Foundation’s holdings in Pioneer Natural Resources were worth $13,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brookstone Capital Management raised its position in shares of Pioneer Natural Resources by 13.9% during the third quarter. Brookstone Capital Management now owns 4,339 shares of the oil and gas development company’s stock valued at $996,000 after buying an additional 530 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Pioneer Natural Resources by 11.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 87,778 shares of the oil and gas development company’s stock valued at $20,150,000 after acquiring an additional 8,873 shares during the last quarter. SVB Wealth LLC increased its holdings in Pioneer Natural Resources by 3.2% in the 3rd quarter. SVB Wealth LLC now owns 5,287 shares of the oil and gas development company’s stock valued at $1,214,000 after acquiring an additional 162 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Pioneer Natural Resources by 24.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 37,064 shares of the oil and gas development company’s stock worth $8,508,000 after purchasing an additional 7,395 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Pioneer Natural Resources by 16.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 187,854 shares of the oil and gas development company’s stock valued at $43,122,000 after purchasing an additional 26,415 shares during the last quarter. Institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Trading Up 0.9 %

Shares of NYSE:PXD traded up $2.31 during trading hours on Thursday, hitting $269.97. 1,466,084 shares of the company’s stock traded hands, compared to its average volume of 2,038,135. The firm has a market capitalization of $63.07 billion, a P/E ratio of 13.23 and a beta of 1.28. The business has a fifty day moving average price of $257.48 and a 200-day moving average price of $240.49. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year high of $278.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72.

Pioneer Natural Resources (NYSE:PXD) last posted 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 analysts’ consensus estimates of $5.41 by ($0.13). The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. Pioneer Natural Resources’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.91 EPS. Equities analysts expect that Pioneer Natural Resources will post 22.47 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were issued a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s payout ratio is presently 24.70%.

Wall Street Analyst Weigh In

PXD has been the topic of several research reports. Stifel Nicolaus lifted their target price on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Scotiabank lifted their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Truist Financial increased their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Mizuho raised their target price 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. Finally, StockNews.com began coverage on shares of Pioneer Natural Resources in a research note on Monday. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $264.10.

Insider Transactions at Pioneer Natural Resources

In related news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the sale, the chief accounting officer now owns 4,990 shares in the company, valued at approximately $1,302,140.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Phillip A. Gobe sold 2,000 shares of the company’s 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 sale, the director now owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,766 shares of company stock worth $9,067,373. Insiders own 0.57% of the company’s stock.

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.