Kovack Advisors Inc. Buys 3,281 Shares of Pioneer Natural Resources (NYSE:PXD)

Kovack Advisors Inc. boosted its stake in shares of Pioneer Natural Resources (NYSE:PXD) by 161.5% 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 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 Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. boosted its holdings in Pioneer Natural Resources by 61.1% in the fourth quarter. Hartford Financial Management Inc. now owns 116 shares of the oil and gas development company’s stock worth $26,000 after acquiring an additional 44 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in Pioneer Natural Resources in the third quarter worth about $29,000. Carmel Capital Partners LLC acquired a new stake in Pioneer Natural Resources in the third quarter worth about $34,000. Jones Financial Companies Lllp raised its stake in shares of Pioneer Natural Resources by 85.0% in 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 during the last quarter. Finally, OLD Second National Bank of Aurora purchased a new position in shares of Pioneer Natural Resources in the fourth quarter worth about $34,000. Institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Price Performance

Pioneer Natural Resources stock traded down $6.28 during mid-day trading on Friday, hitting $268.87. 2,059,204 shares of the company were exchanged, compared to its average volume of 1,564,386. 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 business’s 50 day simple moving average is $255.15 and its two-hundred day simple moving average is $239.90. The company has a market capitalization of $62.81 billion, a P/E ratio of 13.28 and a beta of 1.31. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83.

Pioneer Natural Resources (NYSE:PXD) last released 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 for the quarter, compared to analysts’ expectations of $5.28 billion. Pioneer Natural Resources had a return on equity of 22.42% and a net margin of 25.28%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $5.91 EPS. Analysts forecast that Pioneer Natural Resources will post 22.47 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

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

Analyst Ratings Changes

PXD has been the subject of several research analyst reports. Truist Financial raised their price objective on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. StockNews.com initiated coverage on Pioneer Natural Resources in a research note on Sunday, April 21st. They issued a “hold” rating for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $279.00 price objective on shares of Pioneer Natural Resources in a research note on Thursday, April 11th. Mizuho lifted 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. Finally, Scotiabank lifted their price target on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Two 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.com, the company presently has an average rating of “Hold” and a consensus target price of $264.10.

Insider Transactions at Pioneer Natural Resources

In other news, Director Scott D. Sheffield sold 10,000 shares of the firm’s 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 owns 462,112 shares in the company, valued at $108,711,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Scott D. Sheffield sold 10,000 shares of Pioneer Natural Resources stock in a transaction dated 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 $108,711,848. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher L. Washburn sold 1,416 shares of Pioneer Natural Resources 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 sale, the chief accounting officer now directly owns 4,990 shares in the company, valued at $1,302,140.50. 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 quarter. 0.57% of the stock is currently owned by insiders.

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.