BCK Capital Management LP Makes New Investment in Pioneer Natural Resources (NYSE:PXD)

BCK Capital Management LP acquired a new position in shares of Pioneer Natural Resources (NYSE:PXD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,926 shares of the oil and gas development company's stock, valued at approximately $3,132,000. Pioneer Natural Resources makes up about 3.1% of BCK Capital Management LP's investment portfolio, making the stock its 7th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Hartford Financial Management Inc. lifted its stake in shares of Pioneer Natural Resources by 61.1% in the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company's stock worth $26,000 after acquiring an additional 44 shares in the last quarter. BluePath Capital Management LLC acquired a new position in shares of Pioneer Natural Resources in the third quarter worth about $29,000. Carmel Capital Partners LLC acquired a new position in shares of Pioneer Natural Resources in the third quarter worth about $34,000. Jones Financial Companies Lllp lifted its stake in shares of Pioneer Natural Resources by 85.0% in the third 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 bought a new stake in Pioneer Natural Resources in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 80.57% of the company's stock.

Insider Activity

In other Pioneer Natural Resources news, Director J Kenneth Thompson sold 1,000 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $250.00, for a total transaction of $250,000.00. Following the sale, the director now directly owns 16,070 shares of the company's stock, valued at approximately $4,017,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Phillip A. Gobe sold 2,000 shares of the company's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the transaction, the director now directly owns 11,132 shares of the company's stock, valued at $2,906,787.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Kenneth Thompson sold 1,000 shares of the company's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the completion of the transaction, the director now directly owns 16,070 shares in the company, valued at $4,017,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,766 shares of company stock worth $9,067,373. Insiders own 0.55% of the company's stock.

Pioneer Natural Resources Price Performance

PXD remained flat at $269.62 during trading on Monday. The firm has a market capitalization of $63.00 billion, a price-to-earnings ratio of 13.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 0.90. Pioneer Natural Resources has a 12 month low of $196.74 and a 12 month high of $278.83. The business's fifty day simple moving average is $259.65 and its 200-day simple moving average is $240.76.

Pioneer Natural Resources (NYSE:PXD - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts' consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the company posted $5.91 EPS. Pioneer Natural Resources's revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Pioneer Natural Resources will post 22.07 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were given a dividend of $2.56 per share. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.80%. Pioneer Natural Resources's dividend payout ratio (DPR) is presently 24.70%.

Analysts Set New Price Targets

Several analysts recently weighed in on PXD shares. Truist Financial boosted their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a "hold" rating in a report on Friday, April 5th. Mizuho boosted their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a "neutral" rating in a report on Tuesday, March 19th. Stifel Nicolaus boosted their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the company a "hold" rating in a report on Tuesday, April 23rd. Susquehanna upped their target price on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a "neutral" rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $279.00 target price on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Pioneer Natural Resources presently has an average rating of "Hold" and an average target price 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.

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