MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 198,468 Shares of Pioneer Natural Resources (NYSE:PXD)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its holdings in shares of Pioneer Natural Resources (NYSE:PXDGet Rating) by 94.7% in the first quarter, HoldingsChannel reports. The firm owned 11,080 shares of the oil and gas development company’s stock after selling 198,468 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Pioneer Natural Resources were worth $2,805,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital International Investors raised its stake in Pioneer Natural Resources by 45.1% in the fourth quarter. Capital International Investors now owns 6,105,125 shares of the oil and gas development company’s stock valued at $1,110,392,000 after buying an additional 1,898,932 shares during the period. Capital World Investors raised its stake in Pioneer Natural Resources by 10.3% in the 4th quarter. Capital World Investors now owns 14,256,214 shares of the oil and gas development company’s stock valued at $2,592,908,000 after acquiring an additional 1,334,183 shares during the period. Abrams Bison Investments LLC acquired a new stake in Pioneer Natural Resources during the 4th quarter valued at $108,764,000. Eaton Vance Management boosted its position in Pioneer Natural Resources by 1,278.7% during the fourth quarter. Eaton Vance Management now owns 582,014 shares of the oil and gas development company’s stock worth $105,524,000 after purchasing an additional 539,799 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Pioneer Natural Resources by 106.8% in the fourth quarter. Marshall Wace LLP now owns 694,184 shares of the oil and gas development company’s stock valued at $126,258,000 after purchasing an additional 358,567 shares during the last quarter. 87.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pioneer Natural Resources stock opened at $228.81 on Thursday. The firm’s 50 day moving average is $257.54 and its 200 day moving average is $232.17. The firm has a market capitalization of $55.36 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.82 and a beta of 1.51. Pioneer Natural Resources has a 1 year low of $133.73 and a 1 year high of $288.46. The company has a current ratio of 1.54, a quick ratio of 1.42 and a debt-to-equity ratio of 0.23.

Pioneer Natural Resources (NYSE:PXDGet Rating) last issued its earnings results on Wednesday, May 4th. The oil and gas development company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.32 by $0.42. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $5.99 billion. Pioneer Natural Resources had a net margin of 22.85% and a return on equity of 21.01%. The company’s quarterly revenue was up 152.5% on a year-over-year basis. During the same quarter last year, the business posted $1.77 earnings per share. As a group, research analysts anticipate that Pioneer Natural Resources will post 33.9 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 14th. Investors of record on Tuesday, May 31st were given a dividend of $7.38 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $29.52 dividend on an annualized basis and a yield of 12.90%. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.78. Pioneer Natural Resources’s payout ratio is currently 19.78%.

Several analysts recently commented on PXD shares. Piper Sandler lifted their target price on shares of Pioneer Natural Resources to $345.00 and gave the stock a “na” rating in a report on Wednesday, May 18th. Raymond James increased their target price on shares of Pioneer Natural Resources from $285.00 to $400.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 25th. Wells Fargo & Company boosted their price target on Pioneer Natural Resources from $244.00 to $276.00 and gave the company an “overweight” rating in a research note on Monday, March 14th. Mizuho reduced their price target on Pioneer Natural Resources from $343.00 to $342.00 and set a “buy” rating on the stock in a research report on Tuesday, May 31st. Finally, Morgan Stanley increased their target price on Pioneer Natural Resources from $272.00 to $285.00 and gave the stock an “equal weight” rating in a report on Monday, June 6th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $286.71.

In other Pioneer Natural Resources news, SVP Tyson L. Taylor sold 1,835 shares of the company’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $279.02, for a total value of $512,001.70. Following the sale, the senior vice president now owns 4,876 shares in the company, valued at approximately $1,360,501.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Margaret Montemayor sold 500 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $250.34, for a total value of $125,170.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,488 shares of company stock worth $4,915,737 in the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Pioneer Natural Resources Profile (Get Rating)

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. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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