Cambria Investment Management L.P. Sells 976 Shares of Pioneer Natural Resources (NYSE:PXD)

Cambria Investment Management L.P. lessened its position in shares of Pioneer Natural Resources (NYSE:PXD) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,256 shares of the oil and gas development company’s stock after selling 976 shares during the quarter. Cambria Investment Management L.P.’s holdings in Pioneer Natural Resources were worth $6,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PXD. Fairfield Bush & CO. acquired a new stake in shares of Pioneer Natural Resources during the 1st quarter worth approximately $42,000. Cetera Advisor Networks LLC boosted its stake in Pioneer Natural Resources by 59.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 2,074 shares of the oil and gas development company’s stock valued at $519,000 after buying an additional 774 shares in the last quarter. Cetera Investment Advisers boosted its stake in Pioneer Natural Resources by 52.1% in the 1st quarter. Cetera Investment Advisers now owns 3,249 shares of the oil and gas development company’s stock valued at $812,000 after buying an additional 1,113 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Pioneer Natural Resources by 22.6% in the 1st quarter. Baird Financial Group Inc. now owns 108,614 shares of the oil and gas development company’s stock valued at $27,157,000 after buying an additional 20,023 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Pioneer Natural Resources by 35.9% in the 1st quarter. Mather Group LLC. now owns 3,430 shares of the oil and gas development company’s stock valued at $858,000 after buying an additional 907 shares in the last quarter. Institutional investors and hedge funds own 82.72% of the company’s stock.

Pioneer Natural Resources Trading Down 0.7 %

NYSE PXD opened at $235.20 on Thursday. The stock has a 50-day simple moving average of $236.67 and a 200 day simple moving average of $223.33. The company has a market capitalization of $54.87 billion, a PE ratio of 11.23 and a beta of 1.38. The company has a current ratio of 0.85, a quick ratio of 0.70 and a debt-to-equity ratio of 0.21. Pioneer Natural Resources has a 12 month low of $177.26 and a 12 month high of $261.84.

Pioneer Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Thursday, November 30th will be issued a $3.20 dividend. This represents a $12.80 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Wednesday, November 29th. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $1.84. Pioneer Natural Resources’s dividend payout ratio is currently 23.88%.

Wall Street Analyst Weigh In

Several analysts recently commented on PXD shares. Morgan Stanley boosted their price target on Pioneer Natural Resources from $230.00 to $236.00 and gave the company an “underweight” rating in a research note on Monday, October 2nd. BMO Capital Markets downgraded Pioneer Natural Resources from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Capital One Financial downgraded Pioneer Natural Resources from an “overweight” rating to an “equal weight” rating and set a $253.00 price objective for the company. in a research report on Thursday, October 12th. Wells Fargo & Company lifted their price objective on Pioneer Natural Resources from $227.00 to $239.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Finally, Truist Financial upgraded Pioneer Natural Resources to a “buy” rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Pioneer Natural Resources has a consensus rating of “Hold” and an average price target of $258.55.

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