Red Spruce Capital LLC Grows Stock Holdings in Pioneer Natural Resources (NYSE:PXD)

Red Spruce Capital LLC lifted its position in Pioneer Natural Resources (NYSE:PXD) by 9.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,768 shares of the oil and gas development company’s stock after buying an additional 784 shares during the quarter. Red Spruce Capital LLC’s holdings in Pioneer Natural Resources were worth $1,817,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allred Capital Management LLC grew its holdings in shares of Pioneer Natural Resources by 2.4% in the 4th quarter. Allred Capital Management LLC now owns 2,090 shares of the oil and gas development company’s stock worth $477,000 after acquiring an additional 48 shares during the period. Tradition Wealth Management LLC grew its holdings in Pioneer Natural Resources by 8.6% in the first quarter. Tradition Wealth Management LLC now owns 666 shares of the oil and gas development company’s stock valued at $136,000 after purchasing an additional 53 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Pioneer Natural Resources by 5.7% in the first quarter. AdvisorNet Financial Inc now owns 1,013 shares of the oil and gas development company’s stock valued at $207,000 after buying an additional 55 shares in the last quarter. Fiduciary Planning LLC raised its stake in shares of Pioneer Natural Resources by 1.1% during the 1st quarter. Fiduciary Planning LLC now owns 4,860 shares of the oil and gas development company’s stock worth $993,000 after buying an additional 55 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its stake in Pioneer Natural Resources by 3.9% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,479 shares of the oil and gas development company’s stock valued at $302,000 after acquiring an additional 55 shares during the last quarter. 82.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Raymond James lowered their price target on shares of Pioneer Natural Resources from $268.00 to $265.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Morgan Stanley boosted their price target on Pioneer Natural Resources from $219.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, August 18th. Piper Sandler raised their target price on shares of Pioneer Natural Resources from $311.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. Jefferies Financial Group lifted their target price on Pioneer Natural Resources from $245.00 to $265.00 and gave the company a “hold” rating in a report on Monday, August 28th. Finally, Mizuho raised their price objective on Pioneer Natural Resources from $265.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $262.80.

Pioneer Natural Resources Price Performance

Shares of NYSE PXD traded up $2.28 during midday trading on Thursday, reaching $238.11. The company’s stock had a trading volume of 471,453 shares, compared to its average volume of 2,131,299. Pioneer Natural Resources has a one year low of $177.26 and a one year high of $274.70. The company has a market cap of $55.51 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43. The company has a 50 day moving average price of $227.99 and a 200 day moving average price of $214.27. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 0.23.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas development company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.37. Pioneer Natural Resources had a return on equity of 25.53% and a net margin of 28.46%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.68 billion. On average, equities research analysts expect that Pioneer Natural Resources will post 20.43 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Wednesday, September 6th will be issued a dividend of $1.84 per share. This represents a $7.36 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, September 5th. Pioneer Natural Resources’s dividend payout ratio is 21.31%.

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. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.