Pioneer Natural Resources (NYSE:PXD) Stock Position Lowered by NuWave Investment Management LLC

NuWave Investment Management LLC lessened its position in Pioneer Natural Resources (NYSE:PXDGet Rating) by 54.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,064 shares of the oil and gas development company’s stock after selling 1,297 shares during the period. NuWave Investment Management LLC’s holdings in Pioneer Natural Resources were worth $266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PXD. Capital International Investors raised its stake in shares of Pioneer Natural Resources by 45.1% in the 4th quarter. Capital International Investors now owns 6,105,125 shares of the oil and gas development company’s stock worth $1,110,392,000 after buying an additional 1,898,932 shares in the last quarter. Capital World Investors raised its position in shares of Pioneer Natural Resources by 10.3% during the fourth quarter. Capital World Investors now owns 14,256,214 shares of the oil and gas development company’s stock worth $2,592,908,000 after purchasing an additional 1,334,183 shares during the period. Abrams Bison Investments LLC acquired a new stake in shares of Pioneer Natural Resources during the fourth quarter worth $108,764,000. Eaton Vance Management raised its position in shares of 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 raised its position in shares of Pioneer Natural Resources by 106.8% during the fourth quarter. Marshall Wace LLP now owns 694,184 shares of the oil and gas development company’s stock worth $126,258,000 after purchasing an additional 358,567 shares during the period. 87.65% of the stock is currently owned by institutional investors.

In related news, SVP Tyson L. Taylor sold 1,835 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $279.02, for a total transaction of $512,001.70. Following the completion of the transaction, the senior vice president now owns 4,876 shares of the company’s stock, valued at approximately $1,360,501.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris J. Cheatwood sold 4,653 shares of the business’s stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of $257.19, for a total value of $1,196,705.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,488 shares of company stock valued at $4,915,737. 0.55% of the stock is currently owned by corporate insiders.

Shares of NYSE PXD opened at $228.81 on Thursday. The company has a market capitalization of $55.36 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.77 and a beta of 1.51. The business’s 50-day moving average price is $257.54 and its two-hundred day moving average price is $232.17. Pioneer Natural Resources has a one year low of $133.73 and a one year high of $288.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.54 and a quick ratio of 1.42.

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

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

A number of equities research analysts have recently issued reports on PXD shares. Susquehanna Bancshares boosted their target price on Pioneer Natural Resources from $258.00 to $278.00 and gave the stock a “positive” rating in a research report on Monday, April 25th. Truist Financial boosted their target price on Pioneer Natural Resources from $245.00 to $281.00 in a research report on Thursday, April 21st. TD Securities lifted their price target on Pioneer Natural Resources from $280.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, May 5th. Morgan Stanley lifted their price target on Pioneer Natural Resources from $272.00 to $285.00 and gave the company an “equal weight” rating in a report on Monday, June 6th. Finally, Barclays lifted their price target on Pioneer Natural Resources from $302.00 to $339.00 and gave the company an “overweight” rating in a report on Tuesday, June 14th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Pioneer Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.71.

Pioneer Natural Resources Company 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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