275,000 Shares in Pioneer Natural Resources (NYSE:PXD) Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management acquired a new position in shares of Pioneer Natural Resources (NYSE:PXD) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 275,000 shares of the oil and gas development company’s stock, valued at approximately $61,842,000. Pioneer Natural Resources comprises about 1.7% of Picton Mahoney Asset Management’s investment portfolio, making the stock its largest holding.

Several other institutional investors also recently bought and sold shares of PXD. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Pioneer Natural Resources in the 3rd quarter valued at $134,558,000. Assenagon Asset Management S.A. raised its holdings in Pioneer Natural Resources by 610.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock valued at $141,965,000 after acquiring an additional 531,418 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Pioneer Natural Resources by 20,425.9% in the 4th quarter. International Assets Investment Management LLC now owns 302,757 shares of the oil and gas development company’s stock valued at $68,084,000 after acquiring an additional 301,282 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Pioneer Natural Resources by 7.6% in the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock valued at $748,271,000 after acquiring an additional 231,470 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Pioneer Natural Resources by 31.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 778,839 shares of the oil and gas development company’s stock valued at $178,782,000 after acquiring an additional 184,186 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on PXD shares. Scotiabank boosted their price target on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $279.00 price target on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Truist Financial upped their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Stifel Nicolaus upped their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, Mizuho upped their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Two equities 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $264.10.

Insider Activity

In other news, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total value of $820,225.00. Following the sale, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total transaction of $820,225.00. Following the sale, the executive vice president now owns 49,856 shares in the company, valued at $11,683,753.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the sale, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,766 shares of company stock worth $9,067,373. 0.55% of the stock is currently owned by corporate insiders.

Pioneer Natural Resources Price Performance

NYSE:PXD remained flat at $269.62 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 0.90. The business has a fifty day moving average price of $260.37 and a 200-day moving average price of $240.89. The company has a market capitalization of $63.00 billion, a PE ratio of 13.32 and a beta of 1.28. Pioneer Natural Resources has a 52-week low of $196.74 and a 52-week high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last issued its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company 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 24.28% and a return on equity of 21.21%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $5.91 EPS. Equities research analysts expect that Pioneer Natural Resources will post 22.07 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. 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%.

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.