Advisory Services Network LLC Buys 2,895 Shares of Pioneer Natural Resources (NYSE:PXD)

Advisory Services Network LLC lifted its stake in shares of Pioneer Natural Resources (NYSE:PXDGet Rating) by 47.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,051 shares of the oil and gas development company’s stock after purchasing an additional 2,895 shares during the quarter. Advisory Services Network LLC’s holdings in Pioneer Natural Resources were worth $2,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fiduciary Trust Co. bought a new stake in shares of Pioneer Natural Resources during the 1st quarter valued at $275,000. Riverview Trust Co bought a new position in Pioneer Natural Resources in the 1st quarter worth about $29,000. PNC Financial Services Group Inc. increased its stake in Pioneer Natural Resources by 60.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 79,595 shares of the oil and gas development company’s stock worth $19,902,000 after acquiring an additional 29,852 shares during the last quarter. Atria Investments LLC increased its stake in Pioneer Natural Resources by 30.3% in the 1st quarter. Atria Investments LLC now owns 23,852 shares of the oil and gas development company’s stock worth $5,964,000 after acquiring an additional 5,545 shares during the last quarter. Finally, Intersect Capital LLC bought a new position in Pioneer Natural Resources in the 1st quarter worth about $220,000. 89.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PXD has been the topic of a number of research analyst reports. Mizuho decreased their target price on Pioneer Natural Resources from $334.00 to $316.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. Barclays decreased their target price on Pioneer Natural Resources from $324.00 to $309.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. Tudor, Pickering, Holt & Co. lowered Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. KeyCorp increased their price objective on Pioneer Natural Resources from $272.00 to $294.00 and gave the company an “overweight” rating in a research report on Thursday, May 26th. Finally, Morgan Stanley reduced their price objective on Pioneer Natural Resources from $274.00 to $267.00 and set an “equal weight” rating on the stock in a research report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $285.59.

Pioneer Natural Resources Stock Performance

Shares of PXD stock opened at $239.50 on Friday. The firm has a market capitalization of $57.95 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.85 and a beta of 1.46. The stock has a fifty day moving average of $231.75 and a 200 day moving average of $242.81. Pioneer Natural Resources has a 52 week low of $146.40 and a 52 week high of $288.46. The company has a quick ratio of 1.20, a current ratio of 1.33 and a debt-to-equity ratio of 0.19.

Pioneer Natural Resources (NYSE:PXDGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The oil and gas development company reported $9.36 earnings per share for the quarter, beating the consensus estimate of $8.63 by $0.73. Pioneer Natural Resources had a net margin of 28.29% and a return on equity of 28.26%. During the same period in the previous year, the company earned $2.55 EPS. As a group, research analysts expect that Pioneer Natural Resources will post 33.49 earnings per share for the current year.

Pioneer Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, September 6th were issued a $8.57 dividend. The ex-dividend date was Friday, September 2nd. This represents a $34.28 annualized dividend and a yield of 14.31%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $7.38. Pioneer Natural Resources’s payout ratio is 18.19%.

Pioneer Natural Resources Profile

(Get Rating)

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.

Further Reading

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)

Receive News & Ratings for Pioneer Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.