Investors Buy Large Volume of Put Options on Pioneer Natural Resources (NYSE:PXD)

Pioneer Natural Resources (NYSE:PXD) was the target of some unusual options trading on Thursday. Stock traders purchased 21,587 put options on the company. This is an increase of approximately 686% compared to the typical daily volume of 2,745 put options.

Shares of NYSE PXD opened at $163.13 on Friday. Pioneer Natural Resources has a fifty-two week low of $76.58 and a fifty-two week high of $175.37. The company has a market cap of $39.80 billion, a PE ratio of -57.24, a price-to-earnings-growth ratio of 1.59 and a beta of 1.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.69 and a current ratio of 0.79. The company has a 50-day simple moving average of $155.66.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Tuesday, May 4th. The oil and gas development company reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.35. Pioneer Natural Resources had a negative net margin of 6.97% and a positive return on equity of 4.10%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm earned $1.15 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that Pioneer Natural Resources will post 11.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 14th. Investors of record on Wednesday, June 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $2.24 annualized dividend and a yield of 1.37%. Pioneer Natural Resources’s payout ratio is 136.59%.

In other Pioneer Natural Resources news, Director Larry R. Grillot sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $166.13, for a total transaction of $83,065.00. Following the transaction, the director now owns 11,223 shares of the company’s stock, valued at $1,864,476.99. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jerome D. Hall, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $163.35, for a total value of $490,050.00. Following the transaction, the executive vice president now directly owns 50,333 shares in the company, valued at approximately $8,221,895.55. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PXD. Boston Partners bought a new position in Pioneer Natural Resources in the 1st quarter valued at about $643,852,000. BlackRock Inc. increased its stake in Pioneer Natural Resources by 16.7% in the 1st quarter. BlackRock Inc. now owns 18,943,582 shares of the oil and gas development company’s stock valued at $3,008,620,000 after buying an additional 2,712,096 shares during the last quarter. Ninety One UK Ltd purchased a new stake in Pioneer Natural Resources in the 1st quarter valued at about $167,725,000. Victory Capital Management Inc. increased its stake in Pioneer Natural Resources by 280.9% in the 1st quarter. Victory Capital Management Inc. now owns 1,362,099 shares of the oil and gas development company’s stock valued at $216,328,000 after buying an additional 1,004,473 shares during the last quarter. Finally, Tesco Pension Investment Ltd purchased a new stake in Pioneer Natural Resources in the 1st quarter valued at about $157,192,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on PXD. Johnson Rice reissued a “hold” rating and set a $180.00 price target on shares of Pioneer Natural Resources in a research report on Monday, March 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on Pioneer Natural Resources from $154.00 to $196.00 and gave the stock a “buy” rating in a report on Tuesday, March 23rd. Wolfe Research restated a “peer perform” rating and set a $167.00 price objective (down previously from $188.00) on shares of Pioneer Natural Resources in a report on Thursday, April 29th. Truist cut Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $190.00 price objective for the company. in a report on Thursday, May 6th. Finally, KeyCorp boosted their price objective on Pioneer Natural Resources from $178.00 to $182.00 and gave the stock an “overweight” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $178.00.

Pioneer Natural Resources Company 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 Permian Basin in West Texas. As of December 31, 2020, the company had proved undeveloped reserves and proved developed non-producing reserves of 31 million barrels of oil, 17 million barrels of NGLs, and 88 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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