Westpac Banking Corp lowered its stake in shares of Pioneer Natural Resources (NYSE:PXD – Free Report) by 96.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 744 shares of the oil and gas development company’s stock after selling 18,514 shares during the quarter. Westpac Banking Corp’s holdings in Pioneer Natural Resources were worth $154,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fiduciary Alliance LLC bought a new position in shares of Pioneer Natural Resources during the 2nd quarter valued at $30,000. Ancora Advisors LLC grew its holdings 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 purchasing an additional 65 shares during the last quarter. Solstein Capital LLC bought a new position in shares of Pioneer Natural Resources during the 2nd quarter valued at $31,000. HHM Wealth Advisors LLC bought a new position in shares of Pioneer Natural Resources during the 1st quarter valued at $35,000. Finally, Dividend Assets Capital LLC bought a new position in shares of Pioneer Natural Resources during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 82.72% of the company’s stock.
Wall Street Analyst Weigh In
PXD has been the topic of several recent research reports. Sanford C. Bernstein lowered shares of Pioneer Natural Resources from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $273.00 to $246.00 in a report on Tuesday, October 17th. JPMorgan Chase & Co. raised shares of Pioneer Natural Resources from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $251.00 to $264.00 in a report on Wednesday, August 16th. Wells Fargo & Company raised their price target on shares of Pioneer Natural Resources from $227.00 to $239.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Piper Sandler raised their price target on shares of Pioneer Natural Resources from $311.00 to $332.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. Finally, Capital One Financial lowered shares of Pioneer Natural Resources from an “overweight” rating to an “equal weight” rating and set a $253.00 price target on the stock. in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pioneer Natural Resources has a consensus rating of “Hold” and an average target price of $259.14.
Pioneer Natural Resources Trading Up 2.5 %
Shares of NYSE PXD opened at $238.16 on Friday. Pioneer Natural Resources has a 1 year low of $177.26 and a 1 year high of $258.06. The stock has a market cap of $55.56 billion, a P/E ratio of 11.37 and a beta of 1.38. The firm has a 50-day moving average of $236.52 and a 200 day moving average of $223.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.70.
Pioneer Natural Resources Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Thursday, November 30th will be given a dividend of $3.20 per share. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $1.84. This represents a $12.80 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend is Wednesday, November 29th. Pioneer Natural Resources’s dividend payout ratio (DPR) is 23.88%.
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. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.
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