Pioneer Natural Resources (NYSE:PXD) Position Trimmed by Bank OZK

Bank OZK decreased its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 45.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,432 shares of the oil and gas development company’s stock after selling 1,998 shares during the period. Bank OZK’s holdings in Pioneer Natural Resources were worth $547,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Pioneer Natural Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company’s stock valued at $4,594,616,000 after purchasing an additional 113,751 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Pioneer Natural Resources by 7.6% during the third 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 period. Bank of New York Mellon Corp boosted its holdings in shares of Pioneer Natural Resources by 25.7% during the third quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock valued at $743,734,000 after acquiring an additional 662,891 shares during the period. Northern Trust Corp boosted its holdings in shares of Pioneer Natural Resources by 2.2% during the third quarter. Northern Trust Corp now owns 2,497,868 shares of the oil and gas development company’s stock valued at $573,386,000 after acquiring an additional 54,841 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Pioneer Natural Resources by 7.5% during the third quarter. Ameriprise Financial Inc. now owns 1,923,819 shares of the oil and gas development company’s stock valued at $443,574,000 after acquiring an additional 134,982 shares during the period. Institutional investors own 80.57% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial boosted 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. StockNews.com began coverage on shares of Pioneer Natural Resources in a report on Sunday, April 21st. They issued a “hold” rating for the company. Mizuho upped their price objective 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 stock a “neutral” rating in a report on Monday, April 22nd. Finally, Scotiabank boosted their price target on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Pioneer Natural Resources currently has a consensus rating of “Hold” and an average price target of $264.10.

Pioneer Natural Resources Stock Down 2.3 %

Shares of PXD traded down $6.28 during trading hours on Friday, reaching $268.87. The company’s stock had a trading volume of 2,059,204 shares, compared to its average volume of 1,564,386. The firm has a market cap of $62.81 billion, a price-to-earnings ratio of 13.28 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. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $255.15 and a two-hundred day moving average of $239.90.

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 for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The business 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 25.28% and a return on equity of 22.42%. Pioneer Natural Resources’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.91 EPS. As a group, research analysts predict that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors 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 annualized dividend and a dividend yield of 3.81%. Pioneer Natural Resources’s payout ratio is 24.70%.

Insider Activity at Pioneer Natural Resources

In related news, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the completion of the sale, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the sale, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark H. Kleinman sold 3,500 shares of the company’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 value of $820,225.00. Following the sale, the executive vice president now directly owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,766 shares of company stock valued at $9,067,373. 0.57% of the stock is owned by corporate insiders.

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.