abrdn plc Raises Stock Position in Pioneer Natural Resources (NYSE:PXD)

abrdn plc lifted its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 52.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 103,403 shares of the oil and gas development company’s stock after acquiring an additional 35,546 shares during the quarter. abrdn plc’s holdings in Pioneer Natural Resources were worth $23,253,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. J.W. Cole Advisors Inc. boosted its stake in shares of Pioneer Natural Resources by 3.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 16,829 shares of the oil and gas development company’s stock valued at $3,784,000 after purchasing an additional 549 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Pioneer Natural Resources during the fourth quarter valued at approximately $117,000. Greenleaf Trust boosted its stake in shares of Pioneer Natural Resources by 11.9% during the fourth quarter. Greenleaf Trust now owns 5,336 shares of the oil and gas development company’s stock valued at $1,200,000 after purchasing an additional 568 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Pioneer Natural Resources by 1.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 26,730 shares of the oil and gas development company’s stock valued at $6,011,000 after purchasing an additional 342 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Pioneer Natural Resources by 27.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 5,420 shares of the oil and gas development company’s stock valued at $1,219,000 after purchasing an additional 1,167 shares in the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PXD has been the topic of a number of recent research reports. Susquehanna increased their price objective on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a research note on Monday. Scotiabank raised their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Truist Financial raised their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research note on Friday, April 5th. StockNews.com assumed coverage on shares of Pioneer Natural Resources in a research note on Sunday. They issued a “hold” rating for the company. Finally, Mizuho raised their target price on shares of 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $264.10.

Pioneer Natural Resources Trading Up 0.6 %

Shares of Pioneer Natural Resources stock opened at $275.12 on Wednesday. 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 200 day moving average price of $239.17. Pioneer Natural Resources has a 1 year low of $196.74 and a 1 year high of $278.83. The stock has a market cap of $64.27 billion, a PE ratio of 13.59 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last issued its 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 return on equity of 22.42% and a net margin of 25.28%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the business earned $5.91 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts predict that Pioneer Natural Resources will post 21.66 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

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

Insider Buying and Selling at Pioneer Natural Resources

In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction on 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 transaction, the executive vice president now owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Pioneer Natural Resources news, EVP Mark H. Kleinman sold 3,500 shares of Pioneer Natural Resources stock in a transaction on 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 transaction, the executive vice president now owns 49,856 shares of the company’s stock, valued at $11,683,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jerome D. Hall, Jr. sold 7,000 shares of Pioneer Natural Resources stock in a transaction on Friday, March 15th. The shares were sold at an average price of $250.74, for a total transaction of $1,755,180.00. Following the completion of the transaction, the executive vice president now directly owns 76,885 shares of the company’s stock, valued at approximately $19,278,144.90. 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. Corporate insiders own 0.55% of the company’s stock.

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.