LGT Group Foundation Raises Holdings in Pioneer Natural Resources (NYSE:PXD)

LGT Group Foundation increased its position in Pioneer Natural Resources (NYSE:PXD) by 5.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 61,001 shares of the oil and gas development company’s stock after acquiring an additional 2,926 shares during the quarter. LGT Group Foundation’s holdings in Pioneer Natural Resources were worth $13,716,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Hartford Financial Management Inc. raised its position 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 valued at $26,000 after purchasing an additional 44 shares during the period. BluePath Capital Management LLC bought a new stake in Pioneer Natural Resources during the 3rd quarter valued at $29,000. Carmel Capital Partners LLC bought a new stake in Pioneer Natural Resources during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp lifted its position in shares of Pioneer Natural Resources by 85.0% during 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 position in shares of Pioneer Natural Resources in the fourth quarter worth $34,000. 80.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction on 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 transaction, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Scott D. Sheffield sold 7,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $252.33, for a total transaction of $1,892,475.00. Following the completion of the sale, the director now directly owns 447,112 shares in the company, valued at $112,819,770.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was 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 directly owns 462,112 shares in the company, valued at $108,711,848. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,766 shares of company stock valued at $9,067,373. 0.57% of the stock is currently owned by company insiders.

Pioneer Natural Resources Trading Up 0.9 %

NYSE:PXD traded up $2.31 during trading hours on Thursday, reaching $269.97. The company’s stock had a trading volume of 1,466,084 shares, compared to its average volume of 2,038,135. 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 firm has a market capitalization of $63.07 billion, a price-to-earnings ratio of 13.23 and a beta of 1.28. The firm has a 50-day simple moving average of $257.48 and a 200-day simple moving average of $240.49. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing the consensus estimate of $5.41 by ($0.13). The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.91 EPS. Research analysts expect that Pioneer Natural Resources will post 22.47 EPS for the current fiscal 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 paid a dividend of $2.56 per share. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PXD shares. StockNews.com assumed coverage on Pioneer Natural Resources in a report on Monday. They set a “hold” rating on the stock. 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, April 11th. Scotiabank upped their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Truist Financial raised their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. Finally, Mizuho upped their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $264.10.

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 Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.