Pioneer Natural Resources (NYSE:PXD) Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC lowered its position in shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) by 32.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,626 shares of the oil and gas development company’s stock after selling 6,685 shares during the quarter. Tectonic Advisors LLC’s holdings in Pioneer Natural Resources were worth $2,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Pioneer Natural Resources by 22.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,489,330 shares of the oil and gas development company’s stock valued at $1,447,639,000 after purchasing an additional 1,198,899 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Pioneer Natural Resources by 144.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,346,688 shares of the oil and gas development company’s stock valued at $969,659,000 after purchasing an additional 2,569,044 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Pioneer Natural Resources by 2.0% in the first quarter. Northern Trust Corp now owns 2,568,917 shares of the oil and gas development company’s stock valued at $642,307,000 after purchasing an additional 51,444 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Pioneer Natural Resources by 9.6% in the second quarter. Legal & General Group Plc now owns 1,800,616 shares of the oil and gas development company’s stock valued at $401,682,000 after purchasing an additional 157,273 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in Pioneer Natural Resources by 1.3% during the second quarter. CIBC Private Wealth Group LLC now owns 1,628,028 shares of the oil and gas development company’s stock worth $363,181,000 after acquiring an additional 21,611 shares during the last quarter. Institutional investors and hedge funds own 89.75% of the company’s stock.

Pioneer Natural Resources Stock Down 3.0 %

NYSE:PXD traded down $6.85 during midday trading on Wednesday, reaching $223.50. The company had a trading volume of 716,177 shares, compared to its average volume of 1,579,727. The firm has a market capitalization of $54.08 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 1.14 and a beta of 1.41. The stock’s fifty day simple moving average is $231.77 and its 200-day simple moving average is $237.18. Pioneer Natural Resources has a 12-month low of $200.09 and a 12-month high of $288.46. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Piper Sandler raised their target price on Pioneer Natural Resources from $346.00 to $347.00 and gave the stock an “overweight” rating in a research note on Thursday, November 17th. Wells Fargo & Company assumed coverage on Pioneer Natural Resources in a research note on Tuesday, January 24th. They set an “underweight” rating and a $225.00 target price for the company. Citigroup raised their target price on Pioneer Natural Resources to $255.00 in a research note on Thursday, November 17th. Truist Financial raised their target price on Pioneer Natural Resources from $219.00 to $261.00 in a research note on Monday, October 31st. Finally, Morgan Stanley cut their target price on Pioneer Natural Resources from $261.00 to $247.00 and set an “underweight” rating for the company in a research note on Tuesday, January 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pioneer Natural Resources currently has a consensus rating of “Hold” and an average price target of $274.39.

About Pioneer Natural Resources

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Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.