Pioneer Natural Resources (NYSE:PXD) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 6.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 424,530 shares of the oil and gas development company’s stock after selling 30,052 shares during the period. California Public Employees Retirement System’s holdings in Pioneer Natural Resources were worth $95,468,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hartford Financial Management Inc. grew its position in 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 during the last quarter. BluePath Capital Management LLC purchased a new position in Pioneer Natural Resources during the 3rd quarter worth $29,000. Carmel Capital Partners LLC purchased a new position in Pioneer Natural Resources during the 3rd quarter worth $34,000. Jones Financial Companies Lllp grew its position in Pioneer Natural Resources by 85.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 148 shares of the oil and gas development company’s stock worth $34,000 after purchasing an additional 68 shares during the last quarter. Finally, OLD Second National Bank of Aurora purchased a new position in Pioneer Natural Resources during the 4th quarter worth $34,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. In related news, EVP Mark H. Kleinman sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 49,856 shares in the company, valued at $11,683,753.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 462,112 shares of the company’s stock, valued at $108,711,848. The disclosure for this sale can be found here. Insiders sold a total of 36,766 shares of company stock valued at $9,067,373 over the last 90 days. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

PXD has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 price objective on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Truist Financial lifted their target price on shares of Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a report on Friday, April 5th. Stifel Nicolaus lifted their target price on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the company a “hold” rating in a report on Tuesday. Susquehanna lifted their target price on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the company a “neutral” rating in a report on Monday. Finally, StockNews.com started coverage on shares of Pioneer Natural Resources in a report on Sunday. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $264.10.

Pioneer Natural Resources Stock Performance

Shares of PXD opened at $275.52 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. The stock has a market cap of $64.37 billion, a P/E ratio of 13.61 and a beta of 1.31. The company has a 50-day moving average of $253.53 and a two-hundred day moving average of $239.42. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. Pioneer Natural Resources had a net margin of 25.28% and a return on equity of 22.42%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.91 EPS. As a group, research analysts predict that Pioneer Natural Resources will post 22.11 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

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