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

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dai ichi Life Insurance Company Ltd boosted its position in shares of Pioneer Natural Resources by 45.5% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 21,079 shares of the oil and gas development company’s stock worth $4,839,000 after purchasing an additional 6,589 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Pioneer Natural Resources by 610.6% in the third quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock valued at $141,965,000 after acquiring an additional 531,418 shares during the period. Banco Santander S.A. increased its holdings in shares of Pioneer Natural Resources by 7.1% in the third quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company’s stock worth $11,847,000 after acquiring an additional 3,438 shares in the last quarter. SCP Investment LP raised its position in shares of Pioneer Natural Resources by 80.0% during the third quarter. SCP Investment LP now owns 1,800 shares of the oil and gas development company’s stock worth $413,000 after purchasing an additional 800 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in shares of Pioneer Natural Resources by 34.2% during the 3rd quarter. William Blair Investment Management LLC now owns 440,522 shares of the oil and gas development company’s stock valued at $101,122,000 after purchasing an additional 112,261 shares in the last quarter. Institutional investors own 80.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PXD. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. StockNews.com assumed coverage on Pioneer Natural Resources in a report on Sunday. They set a “hold” rating for the company. Truist Financial boosted their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. Stifel Nicolaus increased their price objective on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Mizuho boosted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Two 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. Based on data from MarketBeat.com, Pioneer Natural Resources presently has an average rating of “Hold” and an average target price of $264.10.

Pioneer Natural Resources Price Performance

Shares of PXD opened at $275.52 on Thursday. The company’s 50-day moving average is $253.53 and its 200-day moving average is $239.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.88 and a quick ratio of 0.72. The firm has a market capitalization of $64.37 billion, a PE ratio of 13.61 and a beta of 1.31. Pioneer Natural Resources has a fifty-two week low of $196.74 and a fifty-two week high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.41 by ($0.13). The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $5.91 earnings per share. Equities analysts forecast that Pioneer Natural Resources will post 22.11 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

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

Insider Activity

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $234.35, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of the firm’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 transaction, the executive vice president now owns 49,856 shares in the company, valued at approximately $11,683,753.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction on Monday, March 4th. The shares were sold at an average price of $235.25, for a total value of $2,352,500.00. Following the completion of the transaction, the director now directly owns 462,112 shares of the company’s stock, valued at $108,711,848. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,766 shares of company stock valued at $9,067,373. 0.57% of the stock is owned by company insiders.

Pioneer Natural Resources Company 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.