GAMMA Investing LLC Invests $292,000 in Pioneer Natural Resources (NYSE:PXD)

GAMMA Investing LLC purchased a new stake in shares of Pioneer Natural Resources (NYSE:PXD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,270 shares of the oil and gas development company’s stock, valued at approximately $292,000.

Several other institutional investors have also added to or reduced their stakes in PXD. Vanguard Group Inc. raised its stake in shares of Pioneer Natural Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 20,015,751 shares of the oil and gas development company’s stock valued at $4,594,616,000 after acquiring an additional 113,751 shares during the last quarter. Clearbridge Investments LLC raised its position in Pioneer Natural Resources by 7.6% during the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock valued at $748,271,000 after purchasing an additional 231,470 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Pioneer Natural Resources by 25.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,239,964 shares of the oil and gas development company’s stock worth $743,734,000 after buying an additional 662,891 shares during the period. Northern Trust Corp grew its position in shares of Pioneer Natural Resources by 2.2% in the 3rd quarter. Northern Trust Corp now owns 2,497,868 shares of the oil and gas development company’s stock worth $573,386,000 after buying an additional 54,841 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Pioneer Natural Resources by 7.5% during the third quarter. Ameriprise Financial Inc. now owns 1,923,819 shares of the oil and gas development company’s stock valued at $443,574,000 after buying an additional 134,982 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Stock Performance

Shares of PXD opened at $275.52 on Thursday. The company has a market cap of $64.37 billion, a price-to-earnings ratio of 13.61 and a beta of 1.31. The business’s fifty day simple moving average is $253.53 and its two-hundred day simple moving average is $239.42. Pioneer Natural Resources has a 12 month low of $196.74 and a 12 month high of $278.83. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company earned $5.91 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts anticipate that Pioneer Natural Resources will post 22.11 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 4th were issued a $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a yield of 3.72%. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Insiders Place Their Bets

In other news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the sale, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,990 shares in the company, valued at approximately $1,302,140.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the sale, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The disclosure for this sale can be found here. Insiders have sold a total of 36,766 shares of company stock worth $9,067,373 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on PXD shares. Susquehanna raised their price target on Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research note on Monday. Scotiabank lifted their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Stifel Nicolaus increased their price target on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research note on Tuesday. Truist Financial raised their price objective on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Finally, StockNews.com initiated coverage on Pioneer Natural Resources in a report on Sunday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $264.10.

Pioneer Natural Resources 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.