Yacktman Asset Management LP Sells 161,336 Shares of Pioneer Natural Resources (NYSE:PXD)

Yacktman Asset Management LP lowered its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,114,110 shares of the oil and gas development company’s stock after selling 161,336 shares during the period. Pioneer Natural Resources comprises 2.3% of Yacktman Asset Management LP’s portfolio, making the stock its 13th largest holding. Yacktman Asset Management LP owned approximately 0.48% of Pioneer Natural Resources worth $250,541,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dai ichi Life Insurance Company Ltd increased its stake in Pioneer Natural Resources by 45.5% in 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 acquiring an additional 6,589 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of 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 purchasing an additional 531,418 shares during the period. Banco Santander S.A. raised its holdings in shares of Pioneer Natural Resources by 7.1% in 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 buying an additional 3,438 shares in the last quarter. SCP Investment LP lifted its position in shares of Pioneer Natural Resources by 80.0% during the 3rd quarter. SCP Investment LP now owns 1,800 shares of the oil and gas development company’s stock worth $413,000 after buying an additional 800 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Pioneer Natural Resources by 34.2% in the 3rd 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 buying an additional 112,261 shares in the last quarter. Institutional investors own 80.57% of the company’s stock.

Insider Buying and Selling

In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of Pioneer Natural Resources stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the sale, the director now owns 11,132 shares in the company, valued at approximately $2,906,787.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Phillip A. Gobe sold 2,000 shares of Pioneer Natural Resources stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the transaction, the director now directly owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the firm’s 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 completion of the sale, the director now directly 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 three months, insiders have sold 36,766 shares of company stock valued at $9,067,373. 0.57% of the stock is owned by insiders.

Pioneer Natural Resources Stock Down 1.5 %

PXD stock traded down $4.04 during mid-day trading on Friday, reaching $271.11. The company had a trading volume of 1,511,226 shares, compared to its average volume of 1,986,026. The company has a market capitalization of $63.34 billion, a price-to-earnings ratio of 13.36 and a beta of 1.31. Pioneer Natural Resources has a 52 week low of $196.74 and a 52 week high of $278.83. The stock has a 50 day simple moving average of $254.41 and a two-hundred day simple moving average of $239.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72.

Pioneer Natural Resources (NYSE:PXD) last released its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the business posted $5.91 earnings per share. Pioneer Natural Resources’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Pioneer Natural Resources will post 22.47 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were given a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.78%. Pioneer Natural Resources’s payout ratio is 24.70%.

Analysts Set New Price Targets

Several research analysts have issued reports on PXD shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Mizuho boosted their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Truist Financial raised their price objective 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. StockNews.com started coverage on Pioneer Natural Resources in a research report on Sunday, April 21st. They set a “hold” rating on the stock. Finally, Stifel Nicolaus boosted their target price on Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus 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.