Wolverine Asset Management LLC Has $2.81 Million Stock Position in Pioneer Natural Resources (NYSE:PXD)

Wolverine Asset Management LLC boosted its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 4,083.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,508 shares of the oil and gas development company’s stock after purchasing an additional 12,209 shares during the period. Wolverine Asset Management LLC’s holdings in Pioneer Natural Resources were worth $2,813,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in PXD. IFP Advisors Inc increased its position in Pioneer Natural Resources by 3.1% in the 3rd quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock valued at $330,000 after buying an additional 43 shares in the last quarter. Naples Global Advisors LLC bought a new position in Pioneer Natural Resources in the third quarter worth about $216,000. Eastern Bank bought a new position in shares of Pioneer Natural Resources during the third quarter valued at approximately $645,000. Avior Wealth Management LLC boosted its holdings in Pioneer Natural Resources by 13.5% in the third quarter. Avior Wealth Management LLC now owns 1,281 shares of the oil and gas development company’s stock worth $294,000 after purchasing an additional 152 shares during the last quarter. Finally, Meridian Wealth Management LLC boosted its stake in shares of Pioneer Natural Resources by 97.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,422 shares of the oil and gas development company’s stock worth $556,000 after acquiring an additional 1,196 shares during the last quarter. Institutional investors own 80.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PXD shares. Stifel Nicolaus lifted 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. StockNews.com assumed coverage on shares of Pioneer Natural Resources in a report on Sunday. They issued a “hold” rating for the company. Susquehanna upped 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. Mizuho raised their price target on shares of Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Finally, Truist Financial raised their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $264.10.

Pioneer Natural Resources Price Performance

Shares of Pioneer Natural Resources stock traded down $0.57 on Wednesday, hitting $274.66. The company’s stock had a trading volume of 786,453 shares, compared to its average volume of 1,985,308. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.88. The firm has a fifty day moving average price of $252.53 and a 200-day moving average price of $239.17. The company has a market capitalization of $64.17 billion, a price-to-earnings ratio of 13.59 and a beta of 1.31. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) 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 analyst estimates of $5.28 billion. During the same quarter in the previous year, the business posted $5.91 earnings per share. Pioneer Natural Resources’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Pioneer Natural Resources will post 21.66 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a $2.56 dividend. The ex-dividend date was Friday, March 1st. This represents a $10.24 annualized dividend and a dividend yield of 3.73%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 24.70%.

Insiders Place Their Bets

In other news, Director Phillip A. Gobe sold 2,000 shares of Pioneer Natural Resources stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the completion of the sale, the director now owns 11,132 shares in the company, valued at approximately $2,906,787.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the sale, the director now directly owns 11,132 shares in the company, valued at $2,906,787.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources 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 sale, the chief accounting officer now owns 4,990 shares in the company, valued at $1,302,140.50. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock worth $9,067,373 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

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 in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.