American International Group Inc. Acquires 2,368 Shares of Pioneer Natural Resources (NYSE:PXD)

American International Group Inc. boosted its stake in Pioneer Natural Resources (NYSE:PXDGet Rating) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,702 shares of the oil and gas development company’s stock after purchasing an additional 2,368 shares during the period. American International Group Inc.’s holdings in Pioneer Natural Resources were worth $14,678,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. AdvisorNet Financial Inc raised its holdings in Pioneer Natural Resources by 4.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,081 shares of the oil and gas development company’s stock valued at $197,000 after buying an additional 50 shares during the last quarter. Telemus Capital LLC raised its stake in shares of Pioneer Natural Resources by 3.1% during the fourth quarter. Telemus Capital LLC now owns 1,839 shares of the oil and gas development company’s stock valued at $334,000 after acquiring an additional 56 shares during the last quarter. Column Capital Advisors LLC grew its stake in shares of Pioneer Natural Resources by 25.1% in the fourth quarter. Column Capital Advisors LLC now owns 279 shares of the oil and gas development company’s stock worth $51,000 after purchasing an additional 56 shares during the last quarter. Montecito Bank & Trust increased its holdings in Pioneer Natural Resources by 1.9% in the fourth quarter. Montecito Bank & Trust now owns 3,095 shares of the oil and gas development company’s stock valued at $563,000 after purchasing an additional 58 shares during the period. Finally, Tributary Capital Management LLC raised its position in Pioneer Natural Resources by 4.1% during the 4th quarter. Tributary Capital Management LLC now owns 1,675 shares of the oil and gas development company’s stock worth $305,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.

Shares of NYSE:PXD opened at $271.25 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.42 and a debt-to-equity ratio of 0.23. The stock has a market cap of $65.63 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.53. The stock’s fifty day simple moving average is $251.27 and its two-hundred day simple moving average is $220.41. Pioneer Natural Resources has a 1-year low of $133.73 and a 1-year high of $279.98.

Pioneer Natural Resources (NYSE:PXDGet Rating) last announced its earnings results on Wednesday, May 4th. The oil and gas development company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.32 by $0.42. Pioneer Natural Resources had a net margin of 22.85% and a return on equity of 21.01%. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The firm’s revenue for the quarter was up 152.5% on a year-over-year basis. On average, sell-side analysts forecast that Pioneer Natural Resources will post 32.49 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Tuesday, May 31st will be paid a $7.38 dividend. This represents a $29.52 dividend on an annualized basis and a dividend yield of 10.88%. The ex-dividend date is Friday, May 27th. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.78. Pioneer Natural Resources’s payout ratio is presently 15.09%.

A number of equities analysts recently commented on PXD shares. KeyCorp lifted their price objective on Pioneer Natural Resources from $252.00 to $272.00 and gave the stock an “overweight” rating in a research note on Thursday, March 24th. Scotiabank lowered shares of Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $260.00 to $270.00 in a report on Monday, April 18th. Credit Suisse Group increased their price target on Pioneer Natural Resources from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, February 17th. TD Securities boosted their price objective on Pioneer Natural Resources from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, May 5th. Finally, StockNews.com started coverage on Pioneer Natural Resources in a report on Thursday, March 31st. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Pioneer Natural Resources currently has an average rating of “Buy” and an average target price of $276.53.

In related news, CAO Margaret Montemayor sold 3,855 shares of the business’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $239.21, for a total value of $922,154.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Tyson L. Taylor sold 1,978 shares of Pioneer Natural Resources stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $228.55, for a total transaction of $452,071.90. The disclosure for this sale can be found here. In the last three months, insiders sold 102,502 shares of company stock worth $24,950,261. Insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Profile (Get Rating)

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. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants.

Further Reading

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

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