Yacktman Asset Management LP Lowers Stock Holdings in Pioneer Natural Resources (NYSE:PXD)

Yacktman Asset Management LP cut its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,114,110 shares of the oil and gas development company’s stock after selling 161,336 shares during the quarter. Pioneer Natural Resources accounts for approximately 2.3% of Yacktman Asset Management LP’s holdings, making the stock its 13th biggest position. Yacktman Asset Management LP’s holdings in Pioneer Natural Resources were worth $250,541,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its position in Pioneer Natural Resources by 4.0% during the third quarter. Proficio Capital Partners LLC now owns 1,030 shares of the oil and gas development company’s stock worth $236,000 after purchasing an additional 40 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of Pioneer Natural Resources by 1.5% in the third quarter. Caprock Group LLC now owns 2,855 shares of the oil and gas development company’s stock valued at $655,000 after purchasing an additional 41 shares in the last quarter. IFP Advisors Inc grew its position in shares of Pioneer Natural Resources by 3.1% in the third quarter. IFP Advisors Inc now owns 1,436 shares of the oil and gas development company’s stock valued at $330,000 after purchasing an additional 43 shares during the last quarter. Western Pacific Wealth Management LP grew its position in shares of Pioneer Natural Resources by 20.0% in the third quarter. Western Pacific Wealth Management LP now owns 264 shares of the oil and gas development company’s stock valued at $61,000 after purchasing an additional 44 shares during the last quarter. Finally, Hartford Financial Management Inc. increased its stake in shares of Pioneer Natural Resources by 61.1% during the 4th quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after purchasing an additional 44 shares in the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PXD shares. Truist Financial upped their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Susquehanna boosted their price target on Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com began coverage on Pioneer Natural Resources in a research note on Sunday, April 21st. They issued a “hold” rating on the stock. Scotiabank increased their price objective on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Pioneer Natural Resources presently has an average rating of “Hold” and a consensus target price of $264.10.

Insider Activity at Pioneer Natural Resources

In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $260.95, for a total value of $369,505.20. Following the transaction, the chief accounting officer now owns 4,990 shares in the company, valued at $1,302,140.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction that occurred on 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 owns 4,990 shares in the company, valued at approximately $1,302,140.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $261.12, for a total value of $522,240.00. Following the completion of the sale, the director now directly owns 11,132 shares of the company’s stock, valued at $2,906,787.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,766 shares of company stock valued at $9,067,373. Corporate insiders own 0.57% of the company’s stock.

Pioneer Natural Resources Price Performance

PXD traded down $4.04 during trading on Friday, reaching $271.11. The stock had a trading volume of 1,511,226 shares, compared to its average volume of 1,986,026. The stock has a 50 day moving average of $254.41 and a two-hundred day moving average of $239.67. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $63.34 billion, a price-to-earnings ratio of 13.36 and a beta of 1.31. Pioneer Natural Resources has a 1-year low of $196.74 and a 1-year high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last announced its earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company 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 earned $5.91 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors 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 3.78%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Pioneer Natural Resources 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 Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.