Cullen Investment Group LTD. bought a new stake in Pioneer Natural Resources (NYSE:PXD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,399 shares of the oil and gas development company's stock, valued at approximately $1,664,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in PXD. Vanguard Group Inc. increased its holdings in shares of Pioneer Natural Resources by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company's stock worth $4,594,616,000 after purchasing an additional 113,751 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pioneer Natural Resources by 3.6% in the 1st quarter. Geode Capital Management LLC now owns 4,337,964 shares of the oil and gas development company's stock worth $884,893,000 after purchasing an additional 149,026 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Pioneer Natural Resources by 46.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company's stock worth $968,877,000 after acquiring an additional 1,343,601 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Pioneer Natural Resources by 7.6% in the third quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company's stock worth $748,271,000 after acquiring an additional 231,470 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Pioneer Natural Resources by 25.7% in the third quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company's stock worth $743,734,000 after acquiring an additional 662,891 shares during the period. Hedge funds and other institutional investors own 80.57% of the company's stock.
Analysts Set New Price Targets
Several research firms recently weighed in on PXD. Truist Financial lifted 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. Susquehanna boosted their price objective on Pioneer Natural Resources from $237.00 to $246.00 and gave the company a "neutral" rating in a research report on Monday, March 4th. Scotiabank boosted 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. Royal Bank of Canada restated a "sector perform" rating and issued a $279.00 price objective on shares of Pioneer Natural Resources in a research report on Thursday. Finally, StockNews.com assumed coverage on Pioneer Natural Resources in a research report on Saturday. They issued a "hold" rating on the stock. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Pioneer Natural Resources currently has a consensus rating of "Hold" and an average target price of $259.00.
Check Out Our Latest Stock Analysis on PXD
Insider Activity at Pioneer Natural Resources
In other Pioneer Natural Resources news, Director Scott D. Sheffield sold 10,000 shares of the 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 completion of the sale, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Scott D. Sheffield sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the sale, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction that occurred on 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 sale, the executive vice president now owns 49,856 shares of the company's stock, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,766 shares of company stock valued at $9,067,373. 0.57% of the stock is owned by corporate insiders.
Pioneer Natural Resources Stock Performance
Shares of NYSE PXD traded down $1.79 during mid-day trading on Monday, hitting $269.01. The stock had a trading volume of 1,404,343 shares, compared to its average volume of 2,012,079. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. The company has a 50 day moving average of $246.65 and a two-hundred day moving average of $236.97. Pioneer Natural Resources has a twelve month low of $196.74 and a twelve month high of $278.83. The firm has a market cap of $62.85 billion, a PE ratio of 13.29 and a beta of 1.31.
Pioneer Natural Resources (NYSE:PXD - Get Free Report) last released its earnings results 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 firm had revenue of $5.22 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $5.91 earnings per share. Research analysts predict that Pioneer Natural Resources will post 20.88 EPS for the current fiscal year.
Pioneer Natural Resources Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were paid a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources's dividend payout ratio is presently 24.70%.
About Pioneer Natural Resources
(
Free Report)
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.
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