OLD National Bancorp IN Decreases Stock Position in Pioneer Natural Resources (NYSE:PXD)

OLD National Bancorp IN cut its holdings in Pioneer Natural Resources (NYSE:PXD) by 54.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,087 shares of the oil and gas development company’s stock after selling 2,495 shares during the period. OLD National Bancorp IN’s holdings in Pioneer Natural Resources were worth $469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PXD. Hartford Financial Management Inc. increased its position in shares of Pioneer Natural Resources by 61.1% during the fourth 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. BluePath Capital Management LLC acquired a new stake in shares of Pioneer Natural Resources during the third quarter worth about $29,000. Carmel Capital Partners LLC acquired a new stake in shares of Pioneer Natural Resources during the third quarter worth about $34,000. Jones Financial Companies Lllp increased its position in shares of Pioneer Natural Resources by 85.0% during the third 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 in the last quarter. Finally, OLD Second National Bank of Aurora acquired a new stake in shares of Pioneer Natural Resources during the fourth quarter worth about $34,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $234.35, for a total value of $820,225.00. Following the transaction, the executive vice president now directly owns 49,856 shares of the company’s stock, valued at approximately $11,683,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Mark H. Kleinman sold 3,500 shares of the stock in a transaction on Monday, March 4th. The stock was 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 approximately $11,683,753.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director J Kenneth Thompson sold 1,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the sale, the director now owns 16,070 shares of the company’s stock, valued at $4,017,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,766 shares of company stock valued at $9,067,373. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Pioneer Natural Resources Trading Up 0.1 %

Shares of Pioneer Natural Resources stock opened at $275.52 on Thursday. The business has a 50 day moving average price of $253.53 and a 200 day moving average price of $239.42. 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 company has a market capitalization of $64.37 billion, a P/E ratio of 13.61 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 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 the consensus estimate of $5.41 by ($0.13). The business 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 company’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.91 earnings per share. Sell-side analysts anticipate that Pioneer Natural Resources will post 22.11 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 4th were given a $2.56 dividend. This represents a $10.24 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, March 1st. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 24.70%.

Pioneer Natural Resources Company 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.