Illinois Municipal Retirement Fund purchased a new position in shares of Pioneer Natural Resources (NYSE:PXD) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,514 shares of the oil and gas development company’s stock, valued at approximately $3,258,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Hartford Investment Management Co. grew its holdings in Pioneer Natural Resources by 19.7% in the 1st quarter. Hartford Investment Management Co. now owns 22,506 shares of the oil and gas development company’s stock valued at $3,574,000 after buying an additional 3,704 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Pioneer Natural Resources by 59.7% in the 4th quarter. Russell Investments Group Ltd. now owns 369,351 shares of the oil and gas development company’s stock valued at $42,080,000 after buying an additional 138,139 shares in the last quarter. Elk River Wealth Management LLC purchased a new stake in Pioneer Natural Resources in the 4th quarter valued at $1,332,000. Vaughan Nelson Investment Management L.P. grew its holdings in Pioneer Natural Resources by 6.4% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 296,632 shares of the oil and gas development company’s stock valued at $33,783,000 after buying an additional 17,777 shares in the last quarter. Finally, Sowell Financial Services LLC grew its holdings in Pioneer Natural Resources by 10.6% in the 4th quarter. Sowell Financial Services LLC now owns 1,642 shares of the oil and gas development company’s stock valued at $187,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Shares of NYSE PXD opened at $158.66 on Tuesday. The stock’s 50 day moving average price is $155.68 and its two-hundred day moving average price is $126.45. Pioneer Natural Resources has a 52-week low of $76.48 and a 52-week high of $169.49. The stock has a market capitalization of $34.36 billion, a P/E ratio of 155.55, a PEG ratio of 2.72 and a beta of 1.92. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 1.41%. Pioneer Natural Resources’s dividend payout ratio is 27.38%.
Several equities analysts have recently commented on PXD shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $177.00 price target on shares of Pioneer Natural Resources in a research note on Tuesday, April 13th. Barclays upped their price target on Pioneer Natural Resources from $151.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, January 14th. Credit Suisse Group increased their target price on Pioneer Natural Resources from $172.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, April 5th. Wells Fargo & Company increased their target price on Pioneer Natural Resources from $192.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, April 5th. Finally, Wolfe Research reaffirmed a “peer perform” rating and issued a $167.00 price target (down previously from $188.00) on shares of Pioneer Natural Resources in a research report on Thursday, April 29th. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $172.03.
In other news, Director Larry R. Grillot sold 500 shares of the company’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $166.13, for a total value of $83,065.00. Following the transaction, the director now directly owns 11,223 shares of the company’s stock, valued at $1,864,476.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott D. Sheffield sold 29,882 shares of the company’s stock in a transaction on Friday, March 5th. The stock was sold at an average price of $162.73, for a total transaction of $4,862,697.86. Following the completion of the transaction, the chief executive officer now directly owns 456,949 shares in the company, valued at $74,359,310.77. The disclosure for this sale can be found here. Insiders have sold 52,338 shares of company stock valued at $8,536,408 over the last ninety days. Corporate insiders own 0.91% of the company’s stock.
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 Permian Basin in West Texas. As of December 31, 2020, the company had proved undeveloped reserves and proved developed non-producing reserves of 31 million barrels of oil, 17 million barrels of NGLs, and 88 billion cubic feet of gas; and owned interests in 11 gas processing plants.
Further Reading: Cost of Debt
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