Prudent Man Advisors LLC Acquires New Shares in Pioneer Natural Resources (NYSE:PXD)

Prudent Man Advisors LLC acquired a new stake in shares of Pioneer Natural Resources (NYSE:PXDGet Rating) during the 1st quarter, Holdings Channel.com reports. The fund acquired 2,090 shares of the oil and gas development company’s stock, valued at approximately $523,000.

Several other institutional investors also recently modified their holdings of the business. Riverview Trust Co bought a new position in Pioneer Natural Resources in the first quarter valued at about $29,000. Icapital Wealth LLC bought a new position in Pioneer Natural Resources in the first quarter valued at about $33,000. CVA Family Office LLC lifted its holdings in Pioneer Natural Resources by 55.6% in the first quarter. CVA Family Office LLC now owns 140 shares of the oil and gas development company’s stock valued at $35,000 after acquiring an additional 50 shares during the period. Covestor Ltd bought a new position in Pioneer Natural Resources in the fourth quarter valued at about $27,000. Finally, Fairfield Bush & CO. bought a new position in Pioneer Natural Resources in the first quarter valued at about $42,000. 87.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PXD. Barclays lowered their target price on Pioneer Natural Resources from $339.00 to $324.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Piper Sandler decreased their price objective on Pioneer Natural Resources from $345.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, July 22nd. Raymond James raised their price objective on Pioneer Natural Resources from $285.00 to $400.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 25th. TD Securities raised their price objective on Pioneer Natural Resources from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Finally, Scotiabank downgraded Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $260.00 to $270.00 in a research note on Monday, April 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $288.35.

Pioneer Natural Resources Price Performance

PXD opened at $217.15 on Friday. The business has a fifty day moving average of $234.89 and a 200 day moving average of $239.01. Pioneer Natural Resources has a 52-week low of $137.54 and a 52-week high of $288.46. The company has a quick ratio of 1.42, a current ratio of 1.33 and a debt-to-equity ratio of 0.19. The stock has a market cap of $52.54 billion, a P/E ratio of 8.98, a PEG ratio of 0.75 and a beta of 1.51.

Pioneer Natural Resources (NYSE:PXDGet Rating) last issued its earnings results on Tuesday, August 2nd. The oil and gas development company reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates of $8.63 by $0.73. Pioneer Natural Resources had a return on equity of 28.26% and a net margin of 28.29%. During the same quarter last year, the firm posted $2.55 earnings per share. As a group, sell-side analysts anticipate that Pioneer Natural Resources will post 33.37 EPS for the current year.

Pioneer Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Tuesday, September 6th will be given a dividend of $8.57 per share. The ex-dividend date is Friday, September 2nd. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $7.38. This represents a $34.28 dividend on an annualized basis and a yield of 15.79%. Pioneer Natural Resources’s payout ratio is 11.12%.

Insider Buying and Selling at Pioneer Natural Resources

In other Pioneer Natural Resources news, EVP Jerome D. Hall, Jr. sold 2,000 shares of Pioneer Natural Resources stock in a transaction on Friday, May 13th. The stock was sold at an average price of $262.19, for a total transaction of $524,380.00. Following the completion of the sale, the executive vice president now directly owns 53,006 shares of the company’s stock, valued at approximately $13,897,643.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Tyson L. Taylor sold 1,835 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $279.02, for a total value of $512,001.70. Following the completion of the transaction, the senior vice president now directly owns 4,876 shares of the company’s stock, valued at approximately $1,360,501.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jerome D. Hall, Jr. sold 2,000 shares of the business’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $262.19, for a total value of $524,380.00. Following the completion of the transaction, the executive vice president now directly owns 53,006 shares of the company’s stock, valued at $13,897,643.14. The disclosure for this sale can be found here. Insiders sold a total of 8,835 shares of company stock valued at $2,439,657 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Pioneer Natural Resources Profile

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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. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants.

See Also

Want to see what other hedge funds are holding PXD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pioneer Natural Resources (NYSE:PXDGet Rating).

Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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