Bank OZK Sells 1,998 Shares of Pioneer Natural Resources (NYSE:PXD)

Bank OZK cut its holdings in shares of Pioneer Natural Resources (NYSE:PXD) by 45.1% during the fourth quarter, Holdings Channel reports. The fund owned 2,432 shares of the oil and gas development company’s stock after selling 1,998 shares during the quarter. Bank OZK’s holdings in Pioneer Natural Resources were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Pioneer Natural Resources during the 4th quarter worth approximately $1,089,000. Golden State Equity Partners increased its holdings in shares of Pioneer Natural Resources by 5.9% during the 4th quarter. Golden State Equity Partners now owns 5,342 shares of the oil and gas development company’s stock worth $1,201,000 after acquiring an additional 296 shares during the last quarter. Kovack Advisors Inc. increased its holdings in shares of Pioneer Natural Resources by 161.5% during the 4th quarter. Kovack Advisors Inc. now owns 5,312 shares of the oil and gas development company’s stock worth $1,195,000 after acquiring an additional 3,281 shares during the last quarter. Bryn Mawr Capital Management LLC acquired a new position in shares of Pioneer Natural Resources during the 4th quarter worth approximately $529,000. Finally, Syon Capital LLC increased its holdings in shares of Pioneer Natural Resources by 40.7% during the 4th quarter. Syon Capital LLC now owns 3,352 shares of the oil and gas development company’s stock worth $754,000 after acquiring an additional 969 shares during the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

Pioneer Natural Resources Trading Down 2.3 %

Pioneer Natural Resources stock traded down $6.28 during trading hours on Friday, hitting $268.87. The stock had a trading volume of 2,059,204 shares, compared to its average volume of 1,564,386. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.21. The stock has a market cap of $62.81 billion, a price-to-earnings ratio of 13.28 and a beta of 1.31. Pioneer Natural Resources has a one year low of $196.74 and a one year high of $278.83. The business’s 50 day simple moving average is $255.15 and its 200-day simple moving average is $239.90.

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 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.91 EPS. On average, equities analysts predict that Pioneer Natural Resources will post 22.47 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 annualized dividend and a dividend yield of 3.81%. Pioneer Natural Resources’s payout ratio is 24.70%.

Insider Activity

In other news, CAO Christopher L. Washburn sold 1,416 shares of the stock in a transaction dated Thursday, March 28th. The stock was 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 legal filing with the SEC, which is available at this link. In other Pioneer Natural Resources news, Director J Kenneth Thompson sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owns 4,990 shares of the company’s stock, valued at approximately $1,302,140.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,766 shares of company stock valued at $9,067,373. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial boosted their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a report on Friday, April 5th. StockNews.com started coverage on Pioneer Natural Resources in a report on Sunday, April 21st. They issued 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. Scotiabank upped their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, Mizuho upped their price objective on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a 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 given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $264.10.

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.