Harvest Fund Management Co. Ltd Sells 474 Shares of Pioneer Natural Resources (NYSE:PXD)

Harvest Fund Management Co. Ltd trimmed its holdings in Pioneer Natural Resources (NYSE:PXD) by 36.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 820 shares of the oil and gas development company’s stock after selling 474 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Pioneer Natural Resources were worth $185,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PXD. Dai ichi Life Insurance Company Ltd boosted its position in Pioneer Natural Resources by 45.5% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 21,079 shares of the oil and gas development company’s stock valued at $4,839,000 after buying an additional 6,589 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Pioneer Natural Resources by 610.6% during 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 period. Banco Santander S.A. grew its position in Pioneer Natural Resources by 7.1% during the 3rd quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company’s stock worth $11,847,000 after acquiring an additional 3,438 shares during the last quarter. SCP Investment LP increased its stake in Pioneer Natural Resources by 80.0% in the 3rd quarter. SCP Investment LP now owns 1,800 shares of the oil and gas development company’s stock worth $413,000 after purchasing an additional 800 shares during the period. Finally, William Blair Investment Management LLC lifted its position in Pioneer Natural Resources by 34.2% in the third quarter. William Blair Investment Management LLC now owns 440,522 shares of the oil and gas development company’s stock valued at $101,122,000 after purchasing an additional 112,261 shares during the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Stock Up 0.5 %

NYSE:PXD opened at $276.79 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72. The firm’s 50-day moving average price is $253.53 and its 200-day moving average price is $239.42. The company has a market capitalization of $64.66 billion, a PE ratio of 13.61 and a beta of 1.31. 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 posted 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). Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the firm earned $5.91 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that Pioneer Natural Resources will post 22.11 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. Shareholders 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 yield of 3.70%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s payout ratio is 24.70%.

Insiders Place Their Bets

In other news, Director Phillip A. Gobe sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $261.12, for a total transaction of $522,240.00. Following the completion of the transaction, the director now directly owns 11,132 shares in the company, valued at $2,906,787.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the sale, the director now owns 11,132 shares in the company, valued at $2,906,787.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the transaction, the executive vice president now owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,766 shares of company stock valued at $9,067,373. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PXD. Truist Financial raised their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Mizuho raised 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. Susquehanna upped their price objective on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research note on Monday. Scotiabank increased 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $279.00 price target on shares of Pioneer Natural Resources in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.