Diversified Trust Co Buys 77 Shares of Pioneer Natural Resources (NYSE:PXD)

Diversified Trust Co raised its stake in Pioneer Natural Resources (NYSE:PXDGet Rating) by 2.8% during the 2nd quarter, Holdings Channel reports. The fund owned 2,859 shares of the oil and gas development company’s stock after acquiring an additional 77 shares during the period. Diversified Trust Co’s holdings in Pioneer Natural Resources were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

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

Pioneer Natural Resources Stock Down 1.6 %

Shares of PXD opened at $228.00 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.20 and a current ratio of 1.33. Pioneer Natural Resources has a 52 week low of $149.34 and a 52 week high of $288.46. The stock has a market capitalization of $55.17 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 0.84 and a beta of 1.46. The stock has a fifty day moving average of $232.94 and a 200-day moving average of $242.62.

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 (EPS) for the quarter, topping 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 period in the previous year, the firm posted $2.55 earnings per share. As a group, sell-side analysts anticipate that Pioneer Natural Resources will post 32.66 earnings per share for the current fiscal year.

Pioneer Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, September 6th were given a dividend of $8.57 per share. 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 annualized dividend and a yield of 15.04%. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 18.19%.

Analysts Set New Price Targets

PXD has been the topic of a number of analyst reports. Tudor, Pickering, Holt & Co. lowered shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. KeyCorp assumed coverage on Pioneer Natural Resources in a research note on Monday. They set an “overweight” rating and a $290.00 price objective on the stock. Bank of America downgraded Pioneer Natural Resources from a “neutral” rating to an “underperform” rating and cut their target price for the company from $272.00 to $244.00 in a research report on Tuesday, July 19th. Barclays decreased their price target on Pioneer Natural Resources from $324.00 to $309.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 31st. Finally, Credit Suisse Group dropped their price target on Pioneer Natural Resources from $290.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pioneer Natural Resources has an average rating of “Moderate Buy” and a consensus target price of $287.65.

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.

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

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