Fulton Bank N.A. decreased its holdings in Pioneer Natural Resources (NYSE:PXD – Get Rating) by 5.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,377 shares of the oil and gas development company’s stock after selling 147 shares during the period. Fulton Bank N.A.’s holdings in Pioneer Natural Resources were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of PXD. Covestor Ltd acquired a new stake in Pioneer Natural Resources in the 4th quarter worth about $27,000. Riverview Trust Co acquired a new stake in Pioneer Natural Resources in the 1st quarter worth about $29,000. Icapital Wealth LLC acquired a new stake in Pioneer Natural Resources in the 1st quarter worth about $33,000. Tcwp LLC acquired a new stake in Pioneer Natural Resources in the 1st quarter worth about $34,000. Finally, Lee Financial Co raised its stake in Pioneer Natural Resources by 423.1% in the 1st quarter. Lee Financial Co now owns 136 shares of the oil and gas development company’s stock worth $34,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.
Pioneer Natural Resources Trading Down 2.0 %
PXD opened at $239.50 on Friday. Pioneer Natural Resources has a fifty-two week low of $146.40 and a fifty-two week high of $288.46. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.33 and a quick ratio of 1.20. 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 company’s 50 day moving average price is $231.75 and its two-hundred day moving average price is $242.81.
Pioneer Natural Resources Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, September 6th were issued a dividend of $8.57 per share. This represents a $34.28 dividend on an annualized basis and a yield of 14.31%. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $7.38. The ex-dividend date was Friday, September 2nd. Pioneer Natural Resources’s payout ratio is presently 18.19%.
Analysts Set New Price Targets
Several brokerages have recently commented on PXD. Truist Financial dropped their target price on shares of Pioneer Natural Resources from $247.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, August 18th. Tudor Pickering cut shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Tudor, Pickering, Holt & Co. cut shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Credit Suisse Group dropped their target price on shares of Pioneer Natural Resources from $290.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, August 3rd. Finally, Bank of America cut shares of Pioneer Natural Resources from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $272.00 to $244.00 in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $285.59.
Pioneer Natural Resources Profile
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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