Teachers Retirement System of The State of Kentucky Trims Stock Holdings in Pioneer Natural Resources (NYSE:PXD)

Teachers Retirement System of The State of Kentucky decreased its stake in Pioneer Natural Resources (NYSE:PXD) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,800 shares of the oil and gas development company’s stock after selling 1,500 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Pioneer Natural Resources were worth $5,900,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PXD. Morgan Stanley increased its position in Pioneer Natural Resources by 19.1% in the third quarter. Morgan Stanley now owns 470,949 shares of the oil and gas development company’s stock worth $40,496,000 after buying an additional 75,579 shares in the last quarter. Engineers Gate Manager LP increased its position in Pioneer Natural Resources by 124.5% in the third quarter. Engineers Gate Manager LP now owns 15,492 shares of the oil and gas development company’s stock worth $1,332,000 after buying an additional 8,592 shares in the last quarter. Nuveen Asset Management LLC increased its position in Pioneer Natural Resources by 5.8% in the third quarter. Nuveen Asset Management LLC now owns 2,217,517 shares of the oil and gas development company’s stock worth $190,684,000 after buying an additional 122,413 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Pioneer Natural Resources by 436.7% in the third quarter. Cubist Systematic Strategies LLC now owns 123,086 shares of the oil and gas development company’s stock worth $10,584,000 after buying an additional 100,154 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its position in Pioneer Natural Resources by 557.5% in the third quarter. Point72 Hong Kong Ltd now owns 16,248 shares of the oil and gas development company’s stock worth $1,397,000 after buying an additional 13,777 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Shares of PXD stock opened at $153.53 on Thursday. Pioneer Natural Resources has a 52-week low of $67.00 and a 52-week high of $169.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.32 and a current ratio of 1.43. The firm has a market capitalization of $33.25 billion, a P/E ratio of 150.52, a P/E/G ratio of 2.72 and a beta of 1.92. The stock has a 50 day moving average price of $156.09 and a 200 day moving average price of $118.49.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results on Monday, February 22nd. The oil and gas development company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.37. Pioneer Natural Resources had a return on equity of 4.67% and a net margin of 2.30%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $2.36 EPS. Pioneer Natural Resources’s quarterly revenue was down 30.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Pioneer Natural Resources will post 1.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st will be paid a dividend of $0.56 per share. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Tuesday, March 30th. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 27.38%.

A number of analysts have commented on PXD shares. Morgan Stanley upped their price target on Pioneer Natural Resources from $160.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Monday. Cowen increased their target price on Pioneer Natural Resources from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays increased their target price on Pioneer Natural Resources from $151.00 to $153.00 and gave the stock an “overweight” rating in a research report on Thursday, January 14th. Credit Suisse Group increased their target price on Pioneer Natural Resources from $172.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Truist increased their target price on Pioneer Natural Resources from $135.00 to $175.00 in a research report on Thursday, February 25th. Five investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $169.33.

In other Pioneer Natural Resources news, Director J Kenneth Thompson sold 1,500 shares of Pioneer Natural Resources stock in a transaction on Friday, March 12th. The stock was sold at an average price of $165.76, for a total transaction of $248,640.00. Following the completion of the sale, the director now directly owns 15,669 shares of the company’s stock, valued at approximately $2,597,293.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott D. Sheffield sold 29,882 shares of Pioneer Natural Resources stock in a transaction on Friday, March 5th. The shares were sold at an average price of $162.73, for a total value of $4,862,697.86. Following the sale, the chief executive officer now directly owns 456,949 shares of the company’s stock, valued at $74,359,310.77. The disclosure for this sale can be found here. Insiders have sold a total of 52,338 shares of company stock valued at $8,536,408 over the last three months. 0.91% of the stock is owned by corporate 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 primarily in the Permian Basin in West Texas. As of December 31, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil, 16 million barrels of NGLs, and 83 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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