Jacinto Hernandez, a director at Pioneer Natural Resources (PXD), recently picked up 588 shares. The buy increased the director’s stake by over 37 percent, and came to a total cost just over $148,000.
This marks the first insider buy at the energy exploration and production company in nearly a year. Otherwise, company insiders, including both executives and directors, have been regular and consistent sellers of the stock over the past three years.
Overall, insiders own 0.6 percent of shares.
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Shares are up 45 percent in the past year, as investors have moved into the energy space. Revenues have grown by 22 percent, and earnings are up nearly 90 percent. So even with a big rally, shares still look inexpensive at just 9 times forward earnings.
Action to take: Investors may like shares here, especially as the company has been a big dividend payer. The most recent payout came to a yield of 10 percent. And with a payout ratio of 72 percent, the dividend is unlikely to see a big cut anytime soon.
For traders, the March 2023 $275 calls, last going for about $10.90, can capitalize on the stock’s upward trajectory in the months ahead. Given the recent market volatility, traders may want to look to buy on a down day for shares and flip the options for a faster gain, rather than hold until expiration.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.