YorkBridge Wealth Partners LLC reduced its position in shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,628 shares of the oil and gas development company’s stock after selling 72 shares during the period. YorkBridge Wealth Partners LLC’s holdings in Pioneer Natural Resources were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of PXD. Riverview Trust Co purchased a new position in shares of Pioneer Natural Resources during the first quarter worth $29,000. Icapital Wealth LLC purchased a new position in Pioneer Natural Resources in the first quarter valued at $33,000. Tcwp LLC purchased a new position in Pioneer Natural Resources in the first quarter valued at $34,000. Lee Financial Co boosted its holdings in Pioneer Natural Resources by 423.1% in the first quarter. Lee Financial Co now owns 136 shares of the oil and gas development company’s stock valued at $34,000 after purchasing an additional 110 shares during the period. Finally, CVA Family Office LLC boosted 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 purchasing an additional 50 shares during the period. 89.97% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Credit Suisse Group decreased their target price on Pioneer Natural Resources from $290.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, August 3rd. Royal Bank of Canada cut Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and set a $290.00 target price on the stock. in a research report on Wednesday, July 6th. Truist Financial dropped their price target on Pioneer Natural Resources from $247.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, August 18th. KeyCorp began coverage on Pioneer Natural Resources in a report on Monday. They issued an “overweight” rating and a $290.00 price objective on the stock. Finally, Piper Sandler lowered their price objective on Pioneer Natural Resources from $345.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $287.65.
Pioneer Natural Resources Trading Down 0.6 %
Pioneer Natural Resources (NYSE:PXD – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The oil and gas development company reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $8.81 by $0.55. The company had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.93 billion. Pioneer Natural Resources had a net margin of 28.29% and a return on equity of 28.26%. During the same period last year, the firm earned $2.55 EPS. Research analysts forecast that Pioneer Natural Resources will post 32.75 EPS for the current year.
Pioneer Natural Resources Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, September 6th were paid a $8.57 dividend. The ex-dividend date of this dividend was Friday, September 2nd. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $7.38. This represents a $34.28 dividend on an annualized basis and a dividend yield of 15.12%. Pioneer Natural Resources’s payout ratio is currently 18.19%.
About Pioneer Natural Resources
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.
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