National Pension Service Grows Stake in Pioneer Natural Resources (NYSE:PXD)

National Pension Service raised its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 445,097 shares of the oil and gas development company’s stock after buying an additional 10,789 shares during the period. National Pension Service owned about 0.19% of Pioneer Natural Resources worth $100,093,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hartford Financial Management Inc. lifted its position in shares of Pioneer Natural Resources by 61.1% during the fourth 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 last quarter. Carmel Capital Partners LLC acquired a new stake in Pioneer Natural Resources during the 3rd quarter valued at approximately $34,000. Jones Financial Companies Lllp grew its position 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 purchasing an additional 68 shares during the period. OLD Second National Bank of Aurora acquired a new position in Pioneer Natural Resources in the fourth quarter valued at approximately $34,000. Finally, Criterion Capital Advisors LLC acquired a new stake in Pioneer Natural Resources during the fourth quarter valued at $37,000. Institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Price Performance

PXD stock remained flat at $269.62 on Thursday. The stock has a market capitalization of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83. The company has a 50 day simple moving average of $260.37 and a two-hundred day simple moving average of $240.89. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Pioneer Natural Resources had a return on equity of 21.21% and a net margin of 24.28%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $5.91 EPS. On average, analysts predict that Pioneer Natural Resources will post 22.07 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were issued 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 dividend yield of 3.80%. Pioneer Natural Resources’s payout ratio is currently 24.70%.

Insider Buying and Selling

In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the business’s 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 transaction, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction that occurred on 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 directly owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the completion of the transaction, the executive vice president now directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,766 shares of company stock worth $9,067,373. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PXD. Mizuho boosted their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Stifel Nicolaus lifted their target price on Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. StockNews.com assumed coverage on shares of Pioneer Natural Resources in a research report on Tuesday. They issued a “hold” rating on the stock. 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 research note on Friday, April 5th. Finally, Susquehanna raised their price target on Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently 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.