Nan Shan Life Insurance Co. Ltd. acquired a new stake in Pioneer Natural Resources (NYSE:PXD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 190,858 shares of the oil and gas development company’s stock, valued at approximately $21,737,000.
Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in shares of Pioneer Natural Resources by 200.6% in the third quarter. Parallel Advisors LLC now owns 490 shares of the oil and gas development company’s stock valued at $42,000 after purchasing an additional 327 shares during the period. Fieldpoint Private Securities LLC purchased a new stake in shares of Pioneer Natural Resources in the 4th quarter worth $46,000. O Shaughnessy Asset Management LLC grew its position in shares of Pioneer Natural Resources by 1,034.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 715 shares of the oil and gas development company’s stock worth $61,000 after buying an additional 652 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Pioneer Natural Resources during the fourth quarter valued at $63,000. Finally, Founders Capital Management purchased a new position in shares of Pioneer Natural Resources during the fourth quarter valued at $66,000. Institutional investors and hedge funds own 89.92% of the company’s stock.
Several research analysts have issued reports on the stock. Citigroup increased their target price on shares of Pioneer Natural Resources from $130.00 to $154.00 in a report on Friday, January 15th. Morgan Stanley began coverage on shares of Pioneer Natural Resources in a report on Monday, February 8th. They set an “equal weight” rating and a $120.00 price objective on the stock. Truist raised shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $135.00 in a research note on Tuesday, December 22nd. The Goldman Sachs Group assumed coverage on Pioneer Natural Resources in a research report on Thursday, January 21st. They set a “buy” rating on the stock. Finally, Stifel Nicolaus reduced their price target on Pioneer Natural Resources from $161.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $132.91.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 14th. Shareholders of record on Wednesday, March 31st will be issued a $0.56 dividend. The ex-dividend date is Tuesday, March 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $0.55. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 26.89%.
In other news, EVP Chris J. Cheatwood sold 6,728 shares of the stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $116.29, for a total value of $782,399.12. Following the transaction, the executive vice president now directly owns 46,026 shares of the company’s stock, valued at $5,352,363.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Stephen Berg sold 5,607 shares of the firm’s stock in a transaction dated Wednesday, November 25th. The stock was sold at an average price of $110.05, for a total value of $617,050.35. Following the completion of the transaction, the executive vice president now owns 21,511 shares of the company’s stock, valued at $2,367,285.55. The disclosure for this sale can be found here. Insiders have sold 13,835 shares of company stock valued at $1,567,819 over the last quarter. Insiders own 0.91% of the company’s stock.
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 primarily in the Permian Basin in West Texas. As of December 31, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil, 16 million barrels of NGLs, and 83 billion cubic feet of gas; and owned interests in 11 gas processing plants.
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