Investment House LLC acquired a new position in shares of Pioneer Natural Resources (NYSE:PXD) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,000 shares of the oil and gas development company’s stock, valued at approximately $342,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PXD. Parallel Advisors LLC boosted its stake in shares of Pioneer Natural Resources by 200.6% during the 3rd quarter. Parallel Advisors LLC now owns 490 shares of the oil and gas development company’s stock worth $42,000 after acquiring an additional 327 shares in the last quarter. Provident Wealth Management LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter worth $51,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Pioneer Natural Resources by 1,034.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 715 shares of the oil and gas development company’s stock worth $61,000 after acquiring an additional 652 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter worth $64,000. Finally, Founders Capital Management bought a new stake in shares of Pioneer Natural Resources during the 4th quarter worth $66,000. 90.11% of the stock is owned by institutional investors and hedge funds.
NYSE PXD opened at $130.93 on Thursday. Pioneer Natural Resources has a fifty-two week low of $48.62 and a fifty-two week high of $149.54. The stock’s 50-day moving average is $115.29 and its two-hundred day moving average is $99.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.65. The firm has a market cap of $21.53 billion, a P/E ratio of 51.96, a price-to-earnings-growth ratio of 6.28 and a beta of 1.84.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Wednesday, December 30th. This represents a $2.20 annualized dividend and a yield of 1.68%. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 26.89%.
Several research firms have recently weighed in on PXD. Zacks Investment Research lowered Pioneer Natural Resources from a “hold” rating to a “sell” rating and set a $117.00 price objective for the company. in a research note on Tuesday, December 29th. Bank of America raised their target price on Pioneer Natural Resources from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. TD Securities raised Pioneer Natural Resources from a “hold” rating to a “buy” rating and raised their target price for the stock from $100.00 to $110.00 in a research report on Wednesday, October 21st. Truist Financial raised Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, December 23rd. Finally, Stifel Nicolaus decreased their target price on Pioneer Natural Resources from $161.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Pioneer Natural Resources presently has an average rating of “Buy” and a consensus price target of $128.55.
In other news, Director Larry R. Grillot sold 500 shares of Pioneer Natural Resources stock in a transaction dated Thursday, December 17th. The stock was sold at an average price of $114.24, for a total value of $57,120.00. Following the transaction, the director now directly owns 11,723 shares in the company, valued at $1,339,235.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris J. Cheatwood sold 6,728 shares of Pioneer Natural Resources stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $116.29, for a total value of $782,399.12. Following the completion of the transaction, the executive vice president now owns 46,026 shares in the company, valued at $5,352,363.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,835 shares of company stock worth $1,567,819. Corporate insiders own 0.91% of the company’s stock.
About Pioneer Natural Resources
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 primarily in the Permian Basin in West Texas. As of December 31, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil, 16 million barrels of NGLs, and 83 billion cubic feet of gas; and owned interests in 11 gas processing plants.
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