Stock Traders Buy High Volume of Put Options on Pioneer Natural Resources (NYSE:PXD)

Pioneer Natural Resources (NYSE:PXD) was the target of some unusual options trading activity on Thursday. Stock investors acquired 21,587 put options on the stock. This is an increase of approximately 686% compared to the average volume of 2,745 put options.

PXD stock opened at $163.13 on Friday. The firm has a 50 day simple moving average of $155.66. The firm has a market capitalization of $39.80 billion, a price-to-earnings ratio of -57.24, a PEG ratio of 1.59 and a beta of 1.93. Pioneer Natural Resources has a 12 month low of $76.58 and a 12 month high of $175.37. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 0.34.

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

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

In other news, Director Larry R. Grillot sold 500 shares of the business’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $166.13, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jerome D. Hall, Jr. sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $163.35, for a total transaction of $490,050.00. Following the completion of the sale, the executive vice president now 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 owned by insiders.

Several hedge funds have recently modified their holdings of PXD. Victory Capital Management Inc. grew its holdings in Pioneer Natural Resources by 287.5% during the 4th quarter. Victory Capital Management Inc. now owns 357,626 shares of the oil and gas development company’s stock valued at $40,730,000 after purchasing an additional 265,326 shares in the last quarter. AE Wealth Management LLC raised its stake in Pioneer Natural Resources by 10.8% during the fourth quarter. AE Wealth Management LLC now owns 6,724 shares of the oil and gas development company’s stock valued at $766,000 after buying an additional 658 shares in the last quarter. First Trust Advisors LP raised its stake in Pioneer Natural Resources by 19.6% during the fourth quarter. First Trust Advisors LP now owns 225,749 shares of the oil and gas development company’s stock valued at $25,711,000 after buying an additional 37,063 shares in the last quarter. California Public Employees Retirement System raised its stake in Pioneer Natural Resources by 5.2% during the fourth quarter. California Public Employees Retirement System now owns 399,463 shares of the oil and gas development company’s stock valued at $45,495,000 after buying an additional 19,645 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Pioneer Natural Resources by 0.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 62,928 shares of the oil and gas development company’s stock worth $7,167,000 after purchasing an additional 210 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on PXD. TD Securities boosted their price objective on shares of Pioneer Natural Resources from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. Mizuho increased their target price on shares of Pioneer Natural Resources from $213.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, May 17th. JPMorgan Chase & Co. restated a “neutral” rating and set a $177.00 target price on shares of Pioneer Natural Resources in a report on Tuesday, April 13th. Citigroup boosted their target price on shares of Pioneer Natural Resources from $154.00 to $196.00 in a report on Tuesday, March 23rd. Finally, Credit Suisse Group upped their price target on Pioneer Natural Resources from $172.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, April 5th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pioneer Natural Resources presently has an average rating of “Buy” and an average target price of $178.00.

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 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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