abrdn plc Boosts Holdings in Pioneer Natural Resources (NYSE:PXD)

abrdn plc grew its position in shares of Pioneer Natural Resources (NYSE:PXD) by 52.4% during the fourth quarter, HoldingsChannel reports. The firm owned 103,403 shares of the oil and gas development company’s stock after buying an additional 35,546 shares during the period. abrdn plc’s holdings in Pioneer Natural Resources were worth $23,253,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dai ichi Life Insurance Company Ltd raised its stake 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 valued at $4,839,000 after purchasing an additional 6,589 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Pioneer Natural Resources by 610.6% during 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 purchasing an additional 531,418 shares during the period. Banco Santander S.A. raised its stake in shares of Pioneer Natural Resources by 7.1% during the third quarter. Banco Santander S.A. now owns 51,608 shares of the oil and gas development company’s stock valued at $11,847,000 after purchasing an additional 3,438 shares during the period. SCP Investment LP raised its stake 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 valued at $413,000 after purchasing an additional 800 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Pioneer Natural Resources by 34.2% during the third 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 during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PXD. Susquehanna lifted their price target on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research note on Monday. StockNews.com began coverage on shares of Pioneer Natural Resources in a research note on Sunday. They issued a “hold” rating for the company. Truist Financial lifted their price target on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. 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. Finally, Mizuho lifted 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. Two 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’s stock. According to MarketBeat.com, Pioneer Natural Resources has an average rating of “Hold” and an average target price of $264.10.

Insider Activity

In other news, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the transaction, the director now owns 462,112 shares of the company’s stock, valued at $108,711,848. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the completion of the transaction, the director now owns 462,112 shares of the company’s stock, valued at $108,711,848. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Christopher L. Washburn sold 1,416 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total transaction of $369,505.20. Following the completion of the sale, the chief accounting officer now directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,766 shares of company stock valued at $9,067,373. 0.55% of the stock is currently owned by company insiders.

Pioneer Natural Resources Stock Up 0.6 %

PXD stock opened at $275.12 on Wednesday. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83. The firm has a market cap of $64.27 billion, a price-to-earnings ratio of 13.59 and a beta of 1.31. 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 fifty day moving average price of $252.53 and a two-hundred day moving average price of $239.17.

Pioneer Natural Resources (NYSE:PXD) last announced 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 the consensus estimate 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 firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the firm posted $5.91 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Research analysts predict that Pioneer Natural Resources will post 21.66 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared 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 annualized dividend 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 (DPR) is 24.70%.

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.