Kovack Advisors Inc. Has $1.20 Million Position in Pioneer Natural Resources (NYSE:PXD)

Kovack Advisors Inc. grew its holdings in Pioneer Natural Resources (NYSE:PXD) by 161.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,312 shares of the oil and gas development company’s stock after purchasing an additional 3,281 shares during the quarter. Kovack Advisors Inc.’s holdings in Pioneer Natural Resources were worth $1,195,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PXD. Private Trust Co. NA grew its position in shares of Pioneer Natural Resources by 12.7% in the third quarter. Private Trust Co. NA now owns 1,115 shares of the oil and gas development company’s stock valued at $256,000 after purchasing an additional 126 shares during the last quarter. Koshinski Asset Management Inc. grew its position in shares of Pioneer Natural Resources by 20.1% in the third quarter. Koshinski Asset Management Inc. now owns 1,290 shares of the oil and gas development company’s stock valued at $296,000 after purchasing an additional 216 shares during the last quarter. CX Institutional grew its position in shares of Pioneer Natural Resources by 28.9% in the third quarter. CX Institutional now owns 2,418 shares of the oil and gas development company’s stock valued at $555,000 after purchasing an additional 542 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Pioneer Natural Resources by 6.5% during the third quarter. Asset Management One Co. Ltd. now owns 107,239 shares of the oil and gas development company’s stock worth $24,617,000 after buying an additional 6,579 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Pioneer Natural Resources during the third quarter worth about $224,000. 80.57% of the stock is owned by institutional investors and hedge funds.

Pioneer Natural Resources Price Performance

Shares of NYSE:PXD traded down $6.28 during trading on Friday, reaching $268.87. The stock had a trading volume of 2,059,204 shares, compared to its average volume of 1,564,386. Pioneer Natural Resources has a 52 week low of $196.74 and a 52 week high of $278.83. The business’s 50-day moving average price is $255.15 and its 200 day moving average price is $239.90. 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 stock has a market capitalization of $62.81 billion, a PE ratio of 13.28 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings results 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 company 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 revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.91 EPS. As a group, equities analysts predict that Pioneer Natural Resources will post 22.47 earnings per share for the current 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 $2.56 dividend. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio is currently 24.70%.

Insider Activity at Pioneer Natural Resources

In related news, CAO Christopher L. Washburn sold 1,416 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $260.95, for a total value of $369,505.20. Following the completion of the sale, the chief accounting officer now owns 4,990 shares of the company’s stock, valued at $1,302,140.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Pioneer Natural Resources news, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources stock in a transaction on Thursday, March 28th. The shares were 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 of the company’s stock, valued at approximately $1,302,140.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction on Monday, March 4th. The stock was sold at an average price of $235.25, for a total transaction of $2,352,500.00. Following the sale, the director now directly owns 462,112 shares of the company’s stock, valued at approximately $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 quarter. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PXD. Truist Financial lifted their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $279.00 target price on shares of Pioneer Natural Resources in a research report on Thursday, April 11th. Mizuho lifted their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. StockNews.com began coverage on Pioneer Natural Resources in a research report on Sunday, April 21st. They set a “hold” rating on the stock. Finally, Susquehanna lifted their target price on Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $264.10.

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.