New York Life Investment Management LLC Boosts Stock Position in Pioneer Natural Resources (NYSE:PXD)

New York Life Investment Management LLC lifted its holdings in Pioneer Natural Resources (NYSE:PXD) by 246.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 119,602 shares of the oil and gas development company’s stock after purchasing an additional 85,070 shares during the quarter. New York Life Investment Management LLC owned 0.05% of Pioneer Natural Resources worth $26,896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PXD. Essex Financial Services Inc. lifted its position in Pioneer Natural Resources by 13.1% in the fourth quarter. Essex Financial Services Inc. now owns 12,421 shares of the oil and gas development company’s stock worth $2,793,000 after buying an additional 1,437 shares during the last quarter. Savant Capital LLC lifted its position in Pioneer Natural Resources by 16.0% in the fourth quarter. Savant Capital LLC now owns 2,720 shares of the oil and gas development company’s stock worth $612,000 after buying an additional 375 shares during the last quarter. Alpha Cubed Investments LLC bought a new stake in Pioneer Natural Resources in the fourth quarter worth $268,000. Brighton Jones LLC lifted its position in Pioneer Natural Resources by 31.1% in the fourth quarter. Brighton Jones LLC now owns 1,429 shares of the oil and gas development company’s stock worth $321,000 after buying an additional 339 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Pioneer Natural Resources by 48.4% in the fourth quarter. Van ECK Associates Corp now owns 138,404 shares of the oil and gas development company’s stock worth $31,124,000 after buying an additional 45,168 shares during the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.

Pioneer Natural Resources Stock Down 0.6 %

PXD traded down $1.66 on Wednesday, hitting $267.66. The company had a trading volume of 5,910,778 shares, compared to its average volume of 2,041,939. The stock has a fifty day moving average price of $256.80 and a 200-day moving average price of $240.29. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. The stock has a market capitalization of $62.53 billion, a price-to-earnings ratio of 13.31 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) 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 company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the firm earned $5.91 EPS. Pioneer Natural Resources’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a dividend of $2.56 per share. 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 3.83%. Pioneer Natural Resources’s payout ratio is 24.70%.

Insider Transactions at Pioneer Natural Resources

In other news, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the sale, the chief accounting officer now owns 4,990 shares in the company, valued at $1,302,140.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the sale, the chief accounting officer now owns 4,990 shares in the company, valued at $1,302,140.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $235.25, for a total value 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. Over the last 90 days, insiders have sold 36,766 shares of company stock worth $9,067,373. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PXD shares. Royal Bank of Canada restated a “sector perform” rating and issued a $279.00 price target on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Truist Financial lifted their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. StockNews.com started coverage on Pioneer Natural Resources in a research report on Monday. They set a “hold” rating for the company. Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Finally, Stifel Nicolaus lifted their target price on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Two 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.com, the stock presently has an average rating of “Hold” and a consensus target price 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.