TCW Group Inc. Invests $2.28 Million in Pioneer Natural Resources (NYSE:PXD)

TCW Group Inc. acquired a new stake in Pioneer Natural Resources (NYSE:PXD) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,119 shares of the oil and gas development company’s stock, valued at approximately $2,275,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PXD. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Pioneer Natural Resources during the 3rd quarter valued at approximately $134,558,000. Alpine Associates Management Inc. bought a new position in shares of Pioneer Natural Resources in the 4th quarter valued at $96,372,000. International Assets Investment Management LLC lifted its stake in shares of Pioneer Natural Resources by 20,425.9% in the 4th quarter. International Assets Investment Management LLC now owns 302,757 shares of the oil and gas development company’s stock valued at $68,084,000 after acquiring an additional 301,282 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Pioneer Natural Resources during the 4th quarter worth $61,842,000. Finally, Clearbridge Investments LLC grew its position in Pioneer Natural Resources by 7.6% during the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock worth $748,271,000 after acquiring an additional 231,470 shares during the last quarter. Institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Stock Performance

Shares of NYSE PXD remained flat at $269.62 during midday trading on Friday. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The company’s 50-day moving average is $267.71 and its 200-day moving average is $243.39. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $63.00 billion, a P/E ratio of 13.32 and a beta of 1.28.

Pioneer Natural Resources (NYSE:PXD) last released 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). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the business posted $5.91 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Pioneer Natural Resources will post 22.07 EPS for the current fiscal year.

Insider Activity

In related news, Director Phillip A. Gobe sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the transaction, the director now directly owns 11,132 shares in the company, valued at $2,906,787.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pioneer Natural Resources news, Director Phillip A. Gobe sold 2,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $261.12, for a total transaction of $522,240.00. Following the completion of the transaction, the director now owns 11,132 shares in the company, valued at $2,906,787.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott D. Sheffield sold 10,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $235.25, for a total value of $2,352,500.00. Following the sale, the director now owns 462,112 shares in the company, valued at approximately $108,711,848. The disclosure for this sale can be found here. Insiders have sold 36,766 shares of company stock worth $9,067,373 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PXD has been the topic of a number of recent research reports. Truist Financial lifted their price target on Pioneer Natural Resources from $238.00 to $278.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Scotiabank boosted their target price on shares of Pioneer Natural Resources from $230.00 to $282.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $279.00 price target on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Stifel Nicolaus raised their target price on Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Finally, Mizuho upped their price target on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $264.10.

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.