Readystate Asset Management LP Purchases New Shares in Pioneer Natural Resources (NYSE:PXD)

Readystate Asset Management LP purchased a new stake in shares of Pioneer Natural Resources (NYSE:PXD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 141,570 shares of the oil and gas development company's stock, valued at approximately $31,836,000. Pioneer Natural Resources accounts for about 1.0% of Readystate Asset Management LP's holdings, making the stock its 14th largest holding. Readystate Asset Management LP owned approximately 0.06% of Pioneer Natural Resources at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in Pioneer Natural Resources by 105.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,857,878 shares of the oil and gas development company's stock valued at $642,681,000 after purchasing an additional 1,464,709 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Pioneer Natural Resources by 46.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company's stock valued at $968,877,000 after purchasing an additional 1,343,601 shares in the last quarter. Westchester Capital Management LLC bought a new stake in Pioneer Natural Resources during the fourth quarter valued at about $258,634,000. Balyasny Asset Management L.P. boosted its position in Pioneer Natural Resources by 165.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,680,744 shares of the oil and gas development company's stock valued at $377,966,000 after purchasing an additional 1,047,414 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in Pioneer Natural Resources by 75,598.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 996,195 shares of the oil and gas development company's stock valued at $227,521,000 after purchasing an additional 994,879 shares in the last quarter. Hedge funds and other institutional investors own 80.57% of the company's stock.

Pioneer Natural Resources Trading Up 0.2 %

NYSE PXD traded up $0.53 on Wednesday, reaching $267.79. 1,150,690 shares of the company were exchanged, compared to its average volume of 1,997,846. The business's fifty day moving average price is $249.09 and its 200 day moving average price is $237.70. The stock has a market capitalization of $62.56 billion, a P/E ratio of 13.23 and a beta of 1.31. 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 fifty-two week low of $196.74 and a fifty-two week high of $278.83.

Pioneer Natural Resources (NYSE:PXD - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts' consensus estimates of $5.41 by ($0.13). The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $5.91 EPS. Analysts forecast that Pioneer Natural Resources will post 20.79 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were given a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a yield of 3.82%. Pioneer Natural Resources's dividend payout ratio is currently 24.70%.

Wall Street Analyst Weigh In

PXD has been the subject of several recent analyst reports. Susquehanna raised their price target on Pioneer Natural Resources from $237.00 to $246.00 and gave the stock a "neutral" rating in a report on Monday, March 4th. Stifel Nicolaus lowered their price target on Pioneer Natural Resources from $243.00 to $224.00 and set a "hold" rating for the company in a report on Tuesday, January 23rd. Truist Financial raised their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a "hold" rating in a report on Friday, April 5th. Scotiabank raised their price target on Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a "sector perform" rating in a report on Thursday, April 11th. Finally, Mizuho raised their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $259.00.

Insider Buying and Selling at Pioneer Natural Resources

In related news, Director Phillip A. Gobe sold 2,000 shares of the business'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 sale, the director now owns 11,132 shares in the company, valued at approximately $2,906,787.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Phillip A. Gobe sold 2,000 shares of the business'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 sale, the director now owns 11,132 shares in the company, valued at approximately $2,906,787.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher L. Washburn sold 1,416 shares of the business's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value 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 disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock worth $9,067,373 over the last quarter. 0.55% of the stock is currently owned by company insiders.

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.

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