National Bank of Canada FI Sells 107,015 Shares of Pioneer Natural Resources (NYSE:PXD)

National Bank of Canada FI lowered its stake in Pioneer Natural Resources (NYSE:PXD) by 28.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 266,855 shares of the oil and gas development company’s stock after selling 107,015 shares during the quarter. National Bank of Canada FI’s holdings in Pioneer Natural Resources were worth $61,453,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dai ichi Life Insurance Company Ltd increased its position in shares of Pioneer Natural Resources by 45.5% during 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 buying an additional 6,589 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Pioneer Natural Resources by 610.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock worth $141,965,000 after acquiring an additional 531,418 shares during the period. Banco Santander S.A. raised its position 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 acquiring an additional 3,438 shares in the last quarter. SCP Investment LP lifted its stake in shares of Pioneer Natural Resources by 80.0% in the 3rd quarter. SCP Investment LP now owns 1,800 shares of the oil and gas development company’s stock valued at $413,000 after purchasing an additional 800 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of Pioneer Natural Resources by 34.2% during the third 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 purchasing an additional 112,261 shares in the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $234.35, for a total value of $820,225.00. Following the transaction, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 49,856 shares in the company, valued at approximately $11,683,753.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 462,112 shares of the company’s stock, valued at approximately $108,711,848. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,766 shares of company stock valued at $9,067,373. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PXD has been the subject of a number of research reports. Truist Financial increased their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Susquehanna lifted their price target on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Scotiabank upped their price objective on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. StockNews.com began coverage on shares of Pioneer Natural Resources in a report on Monday, April 29th. They set a “hold” rating for the company. Finally, Mizuho upped their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Pioneer Natural Resources currently has a consensus rating of “Hold” and an average target price of $264.10.

Pioneer Natural Resources Stock Performance

Shares of PXD stock remained flat at $269.62 during trading hours on Friday. The stock has a market capitalization of $62.99 billion, a P/E ratio of 13.32 and a beta of 1.28. The stock’s 50-day moving average is $258.94 and its 200 day moving average is $240.66. Pioneer Natural Resources has a 52 week low of $196.74 and a 52 week 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.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 EPS for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $5.91 EPS. Research analysts forecast that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were issued a $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is 24.70%.

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.