Integrated Wealth Concepts LLC Sells 426 Shares of Pioneer Natural Resources (NYSE:PXD)

Integrated Wealth Concepts LLC cut its holdings in Pioneer Natural Resources (NYSE:PXDGet Rating) by 33.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 853 shares of the oil and gas development company’s stock after selling 426 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Pioneer Natural Resources were worth $213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PXD. Capital World Investors increased its holdings in Pioneer Natural Resources by 10.3% during the fourth quarter. Capital World Investors now owns 14,256,214 shares of the oil and gas development company’s stock valued at $2,592,908,000 after buying an additional 1,334,183 shares during the period. Capital International Investors raised its holdings in Pioneer Natural Resources by 45.1% in the fourth quarter. Capital International Investors now owns 6,105,125 shares of the oil and gas development company’s stock worth $1,110,392,000 after purchasing an additional 1,898,932 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Pioneer Natural Resources by 20.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,290,431 shares of the oil and gas development company’s stock worth $1,322,766,000 after acquiring an additional 903,653 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of Pioneer Natural Resources by 8.5% during the first quarter. Primecap Management Co. CA now owns 5,200,646 shares of the oil and gas development company’s stock valued at $1,300,318,000 after acquiring an additional 408,800 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Pioneer Natural Resources by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,328,150 shares of the oil and gas development company’s stock valued at $785,194,000 after purchasing an additional 29,148 shares during the last quarter. 89.97% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Trading Down 1.9 %

NYSE PXD opened at $234.54 on Thursday. Pioneer Natural Resources has a 12 month low of $143.63 and a 12 month high of $288.46. The stock has a market capitalization of $56.75 billion, a P/E ratio of 9.70, a PEG ratio of 0.85 and a beta of 1.46. The firm’s 50-day moving average is $228.38 and its two-hundred day moving average is $242.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.33 and a quick ratio of 1.20.

Pioneer Natural Resources (NYSE:PXDGet Rating) last posted its earnings results on Tuesday, August 2nd. The oil and gas development company reported $9.36 earnings per share for the quarter, beating the consensus estimate of $8.63 by $0.73. Pioneer Natural Resources had a net margin of 28.29% and a return on equity of 28.26%. During the same period in the prior year, the firm posted $2.55 earnings per share. On average, sell-side analysts anticipate that Pioneer Natural Resources will post 33.4 earnings per share for the current year.

Pioneer Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Tuesday, September 6th will be issued a dividend of $8.57 per share. This represents a $34.28 dividend on an annualized basis and a yield of 14.62%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $7.38. The ex-dividend date is Friday, September 2nd. Pioneer Natural Resources’s dividend payout ratio (DPR) is 18.19%.

Analyst Ratings Changes

A number of research analysts have issued reports on PXD shares. Piper Sandler cut their price target on shares of Pioneer Natural Resources from $345.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, July 22nd. Wells Fargo & Company dropped their price objective on shares of Pioneer Natural Resources from $289.00 to $283.00 and set an “overweight” rating on the stock in a report on Monday, July 11th. Credit Suisse Group reduced their price objective on Pioneer Natural Resources from $290.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, August 3rd. Royal Bank of Canada cut shares of Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and set a $290.00 price objective on the stock. in a research note on Wednesday, July 6th. Finally, KeyCorp boosted their target price on shares of Pioneer Natural Resources from $272.00 to $294.00 and gave the company an “overweight” rating in a research note on Thursday, May 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $285.59.

About Pioneer Natural Resources

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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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