Schedule 13G/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

 

 

Under the Securities Exchange Act of 1934

(Amendment No. 2)

 

 

 

PIONEER NATURAL RESOURCES COMPANY


(Name of Issuer)

 

COMMON STOCK, PAR VALUE $0.01 PER SHARE


(Title of Class of Securities)

 

 

723787107


                                (CUSIP Number)                                

 

March 16, 2022


(Date of Event Which Requires Filing of this Statement)

 

CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED:

 

¨ Rule 13d-1(b)

 

x Rule 13d-1(c)

 

¨ Rule 13d-1(d)


CUSIP No. 723787107   13G   Page 2 of 10 Pages

 

  1.  

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

            Highfields Capital Management LP

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Delaware

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5.    SOLE VOTING POWER

 

                11,210,211


  6.    SHARED VOTING POWER

 

                —0—


  7.    SOLE DISPOSITIVE POWER

 

                11,210,211


  8.    SHARED DISPOSITIVE POWER

 

                —0—

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,210,211

   
10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

 

¨

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

            7.8%

   
12.  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

            PN

   

 

 


CUSIP No. 723787107   13G   Page 3 of 10 Pages

 

  1.  

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

            Highfields GP LLC

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Delaware

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5.    SOLE VOTING POWER

 

                11,210,211


  6.    SHARED VOTING POWER

 

                —0—


  7.    SOLE DISPOSITIVE POWER

 

                11,210,211


  8.    SHARED DISPOSITIVE POWER

 

                —0—

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,210,211

   
10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

 

¨

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

            7.8%

   
12.  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

            OO

   

 

 


CUSIP No. 723787107   13G   Page 4 of 10 Pages

 

  1.  

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

            Jonathon S. Jacobson

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            United States

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5.    SOLE VOTING POWER

 

                11,210,211


  6.    SHARED VOTING POWER

 

                —0—


  7.    SOLE DISPOSITIVE POWER

 

                11,210,211


  8.    SHARED DISPOSITIVE POWER

 

                —0—

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,210,211

   
10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

 

¨

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

            7.8%

   
12.  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

            IN

   

 

 


CUSIP No. 723787107   13G   Page 5 of 10 Pages

 

  1.  

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

            Richard L. Grubman

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            United States

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5.    SOLE VOTING POWER

 

                11,210,211


  6.    SHARED VOTING POWER

 

                —0—


  7.    SOLE DISPOSITIVE POWER

 

                11,210,211


  8.    SHARED DISPOSITIVE POWER

 

                —0—

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,210,211

   
10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

 

¨

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

            7.8%

   
12.  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

            IN

   

 

 


CUSIP No. 723787107   13G   Page 6 of 10 Pages

 

  1.  

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

            Highfields Capital Ltd.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Cayman Islands, B.W.I.

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5.    SOLE VOTING POWER

 

                7,936,772


  6.    SHARED VOTING POWER

 

                —0—


  7.    SOLE DISPOSITIVE POWER

 

                7,936,772


  8.    SHARED DISPOSITIVE POWER

 

                —0—

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            7,936,772

   
10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

 

¨

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

            5.5%

   
12.  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

            CO

   

 

 


CUSIP No. 723787107   13G   Page 7 of 10 Pages

 

Item 1

 

(a).

   Name of Issuer:          
         Pioneer Natural Resources Company (the “Issuer”)          

Item 1

 

(b).

   Address of Issuer’s Principal Executive Offices:          
         5205 N. O’Connor Blvd., Suite 900, Irving, Texas 75039          

Item 2

 

(a).

   Name of Person Filing:          
         This statement is being filed by the following persons with respect to the shares of Common Stock of the Issuer directly owned by Highfields Capital I LP (“Highfields I”), Highfields Capital II LP (“Highfields II”) and Highfields Capital Ltd. (collectively, the “Funds”):          
        

(i)     Highfields Capital Management LP, a Delaware limited partnership (“Highfields Capital Management”) and investment manager to each of the Funds;

         
        

(ii)    Highfields GP LLC, a Delaware limited liability company (“Highfields GP”) and the General Partner of Highfields Capital Management;

         
        

(iii)  Jonathon S. Jacobson, a Managing Member of Highfields GP; and

         
        

(iv)   Richard L. Grubman, a Managing Member of Highfields GP.

         
         This statement is also being filed by Highfields Capital Ltd., an exempted limited company organized under the laws of the Cayman Island, B.W.I., with respect to the shares of Common Stock of the Issuer owned by Highfields Capital Ltd. (which shares of Common Stock are also included in the filings for Highfields Capital Management, Highfields GP, Mr. Jacobson and Mr. Grubman).          
         Highfields Capital Management, Highfields GP, Mr. Jacobson, Mr. Grubman and Highfields Capital Ltd. are sometimes individually referred to herein as a “Reporting Person” and collectively as the “Reporting Persons.”          
Item 2  

(b).

   Address of Principal Business Office or, if None, Residence:          
        

Address for Highfields Capital Management, Highfields GP,

Mr. Jacobson and Mr. Grubman:

c/o Highfields Capital Management

John Hancock Tower

200 Clarendon Street, 51st Floor

Boston, Massachusetts 02116

         
        

Address of Highfields Capital Ltd.:

c/o Goldman Sachs (Cayman) Trust, Limited

Harbour Centre, Second Floor

George Town, Grand Cayman

Cayman Islands, B.W.I.

         
Item 2  

(c).

   Citizenship:          
        

Highfields Capital Management - Delaware

Highfields GP - Delaware

Jonathon S. Jacobson – United States

Richard L. Grubman – United States

Highfields Capital Ltd. – Cayman Islands, B.W.I.

         
Item 2  

(d).

   Title of Class of Securities:          
         Common Stock, par value $0.01 per share          
Item 2  

(e).

   CUSIP Number:          
         723787107          

Item 3.

       Not applicable.          


CUSIP No. 723787107   13G   Page 8 of 10 Pages

 

Item 4.

   Ownership.          
     Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.          
     For Highfields Capital Management, Highfields GP, Mr. Jacobson and Mr. Grubman:          
     (a)    Amount beneficially owned: 11,210,211 shares of Common Stock          
     (b)    Percent of class: 7.8%          
     (c)    Number of shares as to which such person has:          
          (i)    Sole power to vote or to direct the vote: 11,210,211          
          (ii)    Shared power to vote or to direct the vote: —0—          
          (iii)    Sole power to dispose or to direct the disposition of: 11,210,211          
          (iv)    Shared power to dispose or to direct the disposition of: —0—          
     For Highfields Capital Ltd:          
     (a)    Amount beneficially owned: 7,936,772 shares of Common Stock          
     (b)    Percent of class: 5.5%          
     (c)    Number of shares as to which such person has:          
          (i)    Sole power to vote or to direct the vote: 7,936,772          
          (ii)    Shared power to vote or to direct the vote: —0—          
          (iii)    Sole power to dispose or to direct the disposition of: 7,936,772          
          (iv)    Shared power to dispose or to direct the disposition of: —0—          

Item 5.

   Ownership of Five Percent or Less of a Class.     
     Not applicable.     

Item 6.

   Ownership of More than Five Percent on Behalf of Another Person.          
     The shares beneficially owned by Highfields Capital Management, Highfields GP, Mr. Jacobson, Mr. Grubman and Highfields Capital Ltd. are beneficially owned by the Funds. Highfields I and Highfields II individually own less than 5% of the shares. Highfields Capital Management serves as the investment manager to each of the Funds. Each of Highfields Capital Management, Highfields GP, Mr. Jacobson and Mr. Grubman has the power to direct the dividends from or the proceeds of the sale of the shares owned by the Funds.          

Item 7.

   Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.
     Not applicable.

Item 8.

   Identification and Classification of Members of the Group.          
     Not applicable.          

Item 9.

   Notice of Dissolution of Group.          
     Not applicable.          

Item 10.

   Certification.          
     By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.          


CUSIP No. 723787107   13G   Page 9 of 10 Pages

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

March 25, 2022


Date
HIGHFIELDS CAPITAL MANAGEMENT LP
By: Highfields GP LLC, its General Partner

/s/ Joseph F. Mazzella


Signature

Joseph F. Mazzella, Authorized Signatory


Name/Title
HIGHFIELDS GP LLC

/s/ Joseph F. Mazzella


Signature

Joseph F. Mazzella, Authorized Signatory


Name/Title
JONATHON S. JACOBSON

/s/ Joseph F. Mazzella


Signature

Joseph F. Mazzella, Authorized Signatory


Name/Title
RICHARD L. GRUBMAN

/s/ Joseph F. Mazzella


Signature

Joseph F. Mazzella, Authorized Signatory


Name/Title


CUSIP No. 723787107   13G   Page 10 of 10 Pages

 

HIGHFIELDS CAPITAL LTD.
By: Highfields Capital Management LP, its
Investment Manager
By: Highfields GP LLC, its General Partner

/s/ Joseph F. Mazzella


Signature

Joseph F. Mazzella, Authorized Signatory


Name/Title

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