Stock Traders Buy High Volume of Put Options on Pioneer Natural Resources (NYSE:PXD)

Pioneer Natural Resources (NYSE:PXD) was the target of some unusual options trading on Thursday. Investors bought 21,587 put options on the stock. This is an increase of approximately 686% compared to the typical volume of 2,745 put options.

In other news, Director Larry R. Grillot sold 500 shares of the stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $166.13, for a total value of $83,065.00. Following the completion of the sale, 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 can be accessed through this hyperlink. Also, EVP Jerome D. Hall, Jr. sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $163.35, for a total value of $490,050.00. Following the completion of the transaction, the executive vice president now owns 50,333 shares of the company’s stock, valued at $8,221,895.55. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Pioneer Natural Resources by 16.7% during the first quarter. BlackRock Inc. now owns 18,943,582 shares of the oil and gas development company’s stock valued at $3,008,620,000 after purchasing an additional 2,712,096 shares during the period. Boston Partners bought a new position in Pioneer Natural Resources in the 1st quarter worth approximately $643,852,000. Geode Capital Management LLC boosted its position in shares of Pioneer Natural Resources by 22.8% during the first quarter. Geode Capital Management LLC now owns 3,671,743 shares of the oil and gas development company’s stock worth $581,655,000 after acquiring an additional 682,241 shares during the last quarter. Aristotle Capital Management LLC grew its position in shares of Pioneer Natural Resources by 6.6% during the fourth quarter. Aristotle Capital Management LLC now owns 3,277,457 shares of the oil and gas development company’s stock valued at $370,724,000 after purchasing an additional 201,892 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Pioneer Natural Resources by 35.3% during the first quarter. Bank of New York Mellon Corp now owns 2,953,737 shares of the oil and gas development company’s stock valued at $469,113,000 after buying an additional 771,118 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Shares of PXD stock opened at $163.13 on Friday. Pioneer Natural Resources has a 12 month low of $76.58 and a 12 month high of $175.37. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 0.34. The company has a market cap of $39.80 billion, a PE ratio of -57.24, a PEG ratio of 1.59 and a beta of 1.93. The firm’s fifty day simple moving average is $155.66.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings data on Tuesday, May 4th. The oil and gas development company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.35. Pioneer Natural Resources had a negative net margin of 6.97% and a positive return on equity of 4.10%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the business earned $1.15 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts expect that Pioneer Natural Resources will post 11.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 14th. Stockholders of record on Wednesday, June 30th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, June 29th. Pioneer Natural Resources’s payout ratio is currently 136.59%.

Several research analysts have issued reports on PXD shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on Pioneer Natural Resources from $154.00 to $196.00 and gave the stock a “buy” rating in a research note on Tuesday, March 23rd. KeyCorp lifted their price objective on Pioneer Natural Resources from $178.00 to $182.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $177.00 price target on shares of Pioneer Natural Resources in a research note on Tuesday, April 13th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Pioneer Natural Resources in a research note on Sunday, February 14th. Finally, Truist Securities lowered their target price on shares of Pioneer Natural Resources from $190.00 to $180.00 and set a “hold” rating for the company in a research note on Wednesday, May 19th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Pioneer Natural Resources has an average rating of “Buy” and an average target price of $178.00.

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 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.

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