Veritable L.P. trimmed its holdings in Pioneer Natural Resources (NYSE:PXD – Free Report) by 6.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,644 shares of the oil and gas development company’s stock after selling 253 shares during the quarter. Veritable L.P.’s holdings in Pioneer Natural Resources were worth $755,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Fiduciary Alliance LLC purchased a new position in shares of Pioneer Natural Resources during the 2nd quarter valued at about $30,000. Ancora Advisors LLC lifted its position in shares of Pioneer Natural Resources by 77.4% during the 1st quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock valued at $30,000 after buying an additional 65 shares in the last quarter. Solstein Capital LLC purchased a new position in shares of Pioneer Natural Resources during the 2nd quarter valued at about $31,000. HHM Wealth Advisors LLC purchased a new position in shares of Pioneer Natural Resources during the 1st quarter valued at about $35,000. Finally, Dividend Assets Capital LLC purchased a new position in shares of Pioneer Natural Resources during the 2nd quarter valued at about $37,000. 82.72% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently weighed in on PXD. 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. Roth Mkm reissued a “buy” rating and issued a $245.00 price target on shares of Pioneer Natural Resources in a report on Friday, October 6th. Raymond James reissued a “market perform” rating on shares of Pioneer Natural Resources in a report on Tuesday, October 24th. Sanford C. Bernstein cut Pioneer Natural Resources from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $273.00 to $246.00 in a report on Tuesday, October 17th. Finally, Bank of America boosted their price target on Pioneer Natural Resources from $240.00 to $250.00 in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $259.14.
Pioneer Natural Resources Stock Performance
NYSE PXD opened at $238.16 on Friday. The company has a market cap of $55.57 billion, a P/E ratio of 11.37 and a beta of 1.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.70 and a current ratio of 0.85. The business’s 50 day moving average price is $236.52 and its 200-day moving average price is $223.54. Pioneer Natural Resources has a fifty-two week low of $177.26 and a fifty-two week high of $258.06.
Pioneer Natural Resources Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Thursday, November 30th will be given a dividend of $3.20 per share. The ex-dividend date is Wednesday, November 29th. This represents a $12.80 annualized dividend and a dividend yield of 5.37%. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $1.84. Pioneer Natural Resources’s payout ratio is currently 23.88%.
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.
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