GeoWealth Management LLC Trims Holdings in Pioneer Natural Resources (NYSE:PXD)

GeoWealth Management LLC lessened its stake in Pioneer Natural Resources (NYSE:PXD) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,639 shares of the oil and gas development company’s stock after selling 66 shares during the period. GeoWealth Management LLC’s holdings in Pioneer Natural Resources were worth $546,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Financial Counselors Inc. increased its stake in shares of Pioneer Natural Resources by 24.4% during the first quarter. Financial Counselors Inc. now owns 1,101 shares of the oil and gas development company’s stock valued at $225,000 after buying an additional 216 shares during the period. Gradient Investments LLC increased its holdings in Pioneer Natural Resources by 6.3% during the second quarter. Gradient Investments LLC now owns 3,854 shares of the oil and gas development company’s stock valued at $798,000 after buying an additional 227 shares during the period. Xcel Wealth Management LLC raised its stake in Pioneer Natural Resources by 39.9% in the second quarter. Xcel Wealth Management LLC now owns 4,720 shares of the oil and gas development company’s stock worth $978,000 after buying an additional 1,345 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Pioneer Natural Resources by 18.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 32,813 shares of the oil and gas development company’s stock valued at $6,798,000 after acquiring an additional 5,171 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Pioneer Natural Resources by 25.6% in the 1st quarter. Advisors Asset Management Inc. now owns 57,259 shares of the oil and gas development company’s stock valued at $11,695,000 after acquiring an additional 11,653 shares during the period. 82.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PXD shares. Morgan Stanley lifted their target price 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. Piper Sandler lifted 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. Citigroup raised their price objective on Pioneer Natural Resources from $234.00 to $256.00 in a research report on Wednesday, September 20th. Jefferies Financial Group increased their price target on Pioneer Natural Resources from $245.00 to $265.00 and gave the company a “hold” rating in a research note on Monday, August 28th. Finally, Capital One Financial downgraded shares of Pioneer Natural Resources from an “overweight” rating to an “equal weight” rating and set a $253.00 target price on the stock. in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Pioneer Natural Resources presently has an average rating of “Hold” and a consensus target price of $258.45.

Pioneer Natural Resources Price Performance

NYSE:PXD opened at $237.37 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. Pioneer Natural Resources has a 52 week low of $177.26 and a 52 week high of $258.06. The stock’s 50-day moving average price is $236.59 and its 200-day moving average price is $223.97. The stock has a market capitalization of $55.38 billion, a PE ratio of 11.34 and a beta of 1.38.

Pioneer Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Thursday, November 30th will be given a $3.20 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. 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 dividend yield of 5.39%. Pioneer Natural Resources’s payout ratio 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.