Schedule 13G/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

 

 

Under the Securities Exchange Act of 1934

(Amendment No. 1)

 

 

 

PIONEER NATURAL RESOURCES COMPANY


(Name of Issuer)

 

COMMON STOCK, PAR VALUE $0.01 PER SHARE


(Title of Class of Securities)

 

 

723787107


                                (CUSIP Number)                                

 

December 31, 2021


(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 11 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

 

                9,390,211


  6.    SHARED VOTING POWER

 

                —0—


  7.    SOLE DISPOSITIVE POWER

 

                9,390,211


  8.    SHARED DISPOSITIVE POWER

 

                —0—

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            9,390,211

   
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

 

            6.4%

   
12.  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

            PN

   

 

 


CUSIP No. 723787107

  13G   Page 3 of 11 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

 

                9,390,211


  6.    SHARED VOTING POWER

 

                —0—


  7.    SOLE DISPOSITIVE POWER

 

                9,390,211


  8.    SHARED DISPOSITIVE POWER

 

                —0—

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            9,390,211

   
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

 

            6.4%

   
12.  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

            OO

   

 

 


CUSIP No. 723787107

  13G   Page 4 of 11 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

 

                9,390,211


  6.    SHARED VOTING POWER

 

                —0—


  7.    SOLE DISPOSITIVE POWER

 

                9,390,211


  8.    SHARED DISPOSITIVE POWER

 

                —0—

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            9,390,211

   
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

 

            6.4%

   
12.  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

            IN

   

 

 


CUSIP No. 723787107

  13G   Page 5 of 11 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

 

                9,390,211


  6.    SHARED VOTING POWER

 

                —0—


  7.    SOLE DISPOSITIVE POWER

 

                9,390,211


  8.    SHARED DISPOSITIVE POWER

 

                —0—

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            9,390,211

   
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

 

            6.4%

   
12.  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

            IN

   

 

 


CUSIP No. 723787107

  13G   Page 6 of 11 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.

 

Highfields Capital Management, Highfields GP, Mr. Jacobson and Mr. Grubman 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

         

Item 2

 

(c).

  

Citizenship:

 

Highfields Capital Management – Delaware

Highfields GP – Delaware

Jonathon S. Jacobson – United States

Richard L. Grubman – United States

         

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 7 of 11 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: 9,390,211 shares of Common Stock          
     (b)    Percent of class: 6.4%          
     (c)    Number of shares as to which such person has:          
          (i)    Sole power to vote or to direct the vote: 9,390,211          
          (ii)    Shared power to vote or to direct the vote: —0—          
          (iii)    Sole power to dispose or to direct the disposition of: 9,390,211          
          (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 and Mr. Grubman are beneficially owned by the Funds. Each of Highfields I, Highfields II and Highfields Capital Ltd. 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 8 of 11 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.

 

February 14, 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 9 of 11 Pages

 

EXHIBIT INDEX

 

Exhibit  1         Limited Power of Attorney.
Limited Power Of Attorney

CUSIP No. 723787107

  13G   Page 10 of 11 Pages

 

Exhibit 1

 

LIMITED POWER OF ATTORNEY FOR FILINGS UNDER

THE SECURITIES ACT OF 1933, AS AMENDED AND

THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

Know all by these presents, that the undersigned hereby constitutes and appoints Jennifer L. Stier and Joseph F. Mazzella, or any one of them, with full power of substitution, as the undersigned’s true and lawful attorneys-in-fact and agents to:

 

(1) execute for and on behalf of the undersigned, in the undersigned’s capacity as: (a) Managing Member of Highfields GP LLC, the General Partner of Highfields Capital Management LP; (b) Senior Managing Member of Highfields Associates LLC, the General Partner of Highfields Capital I LP and Highfields Capital II LP; (c) in any other capacity related to any of these entities; or (d) in the undersigned’s individual capacity, all documents, certificates, instruments, statements, filings and agreements (“documents”) to be filed with or delivered in accordance with the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations thereunder;

 

(2) do and perform any and all acts for and on behalf of the undersigned that may be necessary or desirable to complete and execute and timely file any such documents with the United States Securities and Exchange Commission (the “SEC”) and any stock exchange or similar authority; and

 

(3) take any other action of any type whatsoever that, in the opinion of such attorneys-in-fact, may be necessary or desirable in connection with the foregoing authority, it being understood that the documents executed by such attorneys-in-fact on behalf of the undersigned pursuant to this Limited Power of Attorney shall be in such form and shall contain such terms and conditions as such attorneys-in-fact may approve.

 

The undersigned hereby grants to such attorneys-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorneys-in-fact, or such attorneys-in-fact’s substitute or substitutes, have lawfully done or cause to be done or shall lawfully do or cause to be done by virtue of this Limited Power of Attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, any of the undersigned’s responsibilities to comply with the Act.

 

This Limited Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file documents under the Securities Act and the Exchange Act with respect to securities held by the undersigned, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact. This Limited Power of Attorney may be filed with the SEC as a confirming statement of the authority granted herein.

 

IN WITNESS WHEREOF, the undersigned has caused this Limited Power of Attorney to be executed as of this 14th day of February, 2005.

 

/s/ Richard L. Grubman


Richard L. Grubman


CUSIP No. 723787107

  13G   Page 11 of 11 Pages

 

LIMITED POWER OF ATTORNEY FOR FILINGS UNDER

THE SECURITIES ACT OF 1933, AS AMENDED AND

THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

Know all by these presents, that the undersigned hereby constitutes and appoints Jennifer L. Stier and Joseph F. Mazzella, or any one of them, with full power of substitution, as the undersigned’s true and lawful attorneys-in-fact and agents to:

 

(1) execute for and on behalf of the undersigned, in the undersigned’s capacity as: (a) Managing Member of Highfields GP LLC, the General Partner of Highfields Capital Management LP; (b) Senior Managing Member of Highfields Associates LLC, the General Partner of Highfields Capital I LP and Highfields Capital II LP; (c) in any other capacity related to any of these entities; or (d) in the undersigned’s individual capacity, all documents, certificates, instruments, statements, filings and agreements (“documents”) to be filed with or delivered in accordance with the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations thereunder;

 

(2) do and perform any and all acts for and on behalf of the undersigned that may be necessary or desirable to complete and execute and timely file any such documents with the United States Securities and Exchange Commission (the “SEC”) and any stock exchange or similar authority; and

 

(3) take any other action of any type whatsoever that, in the opinion of such attorneys-in-fact, may be necessary or desirable in connection with the foregoing authority, it being understood that the documents executed by such attorneys-in-fact on behalf of the undersigned pursuant to this Limited Power of Attorney shall be in such form and shall contain such terms and conditions as such attorneys-in-fact may approve.

 

The undersigned hereby grants to such attorneys-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorneys-in-fact, or such attorneys-in-fact’s substitute or substitutes, have lawfully done or cause to be done or shall lawfully do or cause to be done by virtue of this Limited Power of Attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, any of the undersigned’s responsibilities to comply with the Act.

 

This Limited Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file documents under the Securities Act and the Exchange Act with respect to securities held by the undersigned, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact. This Limited Power of Attorney may be filed with the SEC as a confirming statement of the authority granted herein.

 

IN WITNESS WHEREOF, the undersigned has caused this Limited Power of Attorney to be executed as of this 14th day of February, 2005.

 

/s/ Jonathon S. Jacobson


Jonathon S. Jacobson

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