CIBC Private Wealth Group LLC boosted its stake in Pioneer Natural Resources (NYSE:PXD) by 41.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,267,359 shares of the oil and gas development company’s stock after buying an additional 371,713 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.59% of Pioneer Natural Resources worth $201,283,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Pioneer Natural Resources by 16.7% in the 1st quarter. BlackRock Inc. now owns 18,943,582 shares of the oil and gas development company’s stock valued at $3,008,620,000 after buying an additional 2,712,096 shares in the last quarter. Boston Partners acquired a new stake in Pioneer Natural Resources in the 1st quarter valued at $643,852,000. Aristotle Capital Management LLC boosted its stake in Pioneer Natural Resources by 6.6% in the fourth quarter. Aristotle Capital Management LLC now owns 3,277,457 shares of the oil and gas development company’s stock worth $370,724,000 after purchasing an additional 201,892 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Pioneer Natural Resources by 6.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,701,108 shares of the oil and gas development company’s stock worth $193,739,000 after purchasing an additional 108,211 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Pioneer Natural Resources by 141.4% in the first quarter. HighTower Advisors LLC now owns 1,607,136 shares of the oil and gas development company’s stock worth $255,245,000 after purchasing an additional 941,417 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Larry R. Grillot sold 500 shares of Pioneer Natural Resources stock in a transaction on Wednesday, March 17th. The stock was 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 in the company, valued at approximately $1,864,476.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jerome D. Hall, Jr. sold 3,000 shares of Pioneer Natural Resources stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $163.35, for a total value of $490,050.00. Following the completion of the transaction, 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 company insiders.
Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Tuesday, May 4th. The oil and gas development company reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.35. Pioneer Natural Resources had a positive return on equity of 4.10% and a negative net margin of 6.97%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $1.15 EPS. The company’s revenue was up 8.1% on a year-over-year basis. On average, research analysts predict that Pioneer Natural Resources will post 11.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 14th. Shareholders of record on Wednesday, June 30th will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, June 29th. This represents a $2.24 dividend on an annualized basis and a yield of 1.37%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 136.59%.
A number of equities analysts have commented on PXD shares. Citigroup boosted their price objective on Pioneer Natural Resources from $154.00 to $196.00 in a research note on Tuesday, March 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $143.00 price target on shares of Pioneer Natural Resources in a research note on Monday, March 8th. Truist Securities cut their price target on Pioneer Natural Resources from $190.00 to $180.00 and set a “hold” rating on the stock in a research note on Wednesday, May 19th. Wolfe Research reaffirmed a “peer perform” rating and set a $167.00 price target (down previously from $188.00) on shares of Pioneer Natural Resources in a research note on Thursday, April 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $177.00 price objective on shares of Pioneer Natural Resources in a report on Tuesday, April 13th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Pioneer Natural Resources currently has an average rating of “Buy” and an average price target of $178.00.
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 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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