Carnegie Capital Asset Management LLC Buys 8,964 Shares of Pioneer Natural Resources (NYSE:PXD)

Carnegie Capital Asset Management LLC raised its stake in shares of Pioneer Natural Resources (NYSE:PXDGet Rating) by 629.5% during the 1st quarter, Holdings Channel reports. The fund owned 10,388 shares of the oil and gas development company’s stock after purchasing an additional 8,964 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Pioneer Natural Resources were worth $2,597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PXD. Old North State Trust LLC boosted its position in Pioneer Natural Resources by 353.1% during the 4th quarter. Old North State Trust LLC now owns 145 shares of the oil and gas development company’s stock valued at $26,000 after acquiring an additional 113 shares in the last quarter. Covestor Ltd acquired a new stake in shares of Pioneer Natural Resources in the 4th quarter worth $27,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Pioneer Natural Resources by 238.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 176 shares of the oil and gas development company’s stock worth $32,000 after purchasing an additional 124 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Pioneer Natural Resources in the 4th quarter worth $37,000. Finally, Exane Derivatives boosted its position in shares of Pioneer Natural Resources by 485.7% in the 4th quarter. Exane Derivatives now owns 205 shares of the oil and gas development company’s stock worth $37,000 after purchasing an additional 170 shares in the last quarter. 87.65% of the stock is currently owned by institutional investors and hedge funds.

NYSE PXD opened at $228.81 on Thursday. The stock has a 50-day simple moving average of $257.54 and a two-hundred day simple moving average of $232.17. The firm has a market capitalization of $55.36 billion, a P/E ratio of 13.93, a PEG ratio of 0.77 and a beta of 1.51. Pioneer Natural Resources has a fifty-two week low of $133.73 and a fifty-two week high of $288.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.42 and a current ratio of 1.54.

Pioneer Natural Resources (NYSE:PXDGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The oil and gas development company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.32 by $0.42. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $5.99 billion. Pioneer Natural Resources had a return on equity of 21.01% and a net margin of 22.85%. The company’s revenue was up 152.5% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. As a group, analysts forecast that Pioneer Natural Resources will post 33.9 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 31st were paid a dividend of $7.38 per share. The ex-dividend date was Friday, May 27th. This represents a $29.52 dividend on an annualized basis and a dividend yield of 12.90%. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $0.78. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 19.78%.

In related news, SVP Tyson L. Taylor sold 1,835 shares of Pioneer Natural Resources stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $279.02, for a total value of $512,001.70. Following the completion of the transaction, the senior vice president now owns 4,876 shares in the company, valued at approximately $1,360,501.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Chris J. Cheatwood sold 4,653 shares of Pioneer Natural Resources stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of $257.19, for a total value of $1,196,705.07. The disclosure for this sale can be found here. Insiders have sold a total of 18,488 shares of company stock valued at $4,915,737 in the last quarter. Company insiders own 0.55% of the company’s stock.

A number of analysts have recently weighed in on PXD shares. Wells Fargo & Company raised their price objective on Pioneer Natural Resources from $244.00 to $276.00 and gave the stock an “overweight” rating in a research report on Monday, March 14th. KeyCorp raised their price objective on Pioneer Natural Resources from $272.00 to $294.00 and gave the stock an “overweight” rating in a research report on Thursday, May 26th. Raymond James raised their price objective on Pioneer Natural Resources from $285.00 to $400.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 25th. Truist Financial raised their price objective on Pioneer Natural Resources from $245.00 to $281.00 in a research report on Thursday, April 21st. Finally, Morgan Stanley raised their target price on Pioneer Natural Resources from $272.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Monday, June 6th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $286.71.

Pioneer Natural Resources Company Profile (Get Rating)

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. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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