Capital Group Private Client Services Inc. Takes $23.84 Million Position in Pioneer Natural Resources (NYSE:PXD)

Capital Group Private Client Services Inc. acquired a new stake in shares of Pioneer Natural Resources (NYSE:PXDGet Rating) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 95,339 shares of the oil and gas development company’s stock, valued at approximately $23,838,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital World Investors increased its position in shares of Pioneer Natural Resources by 10.3% in the 4th 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 acquiring an additional 1,334,183 shares during the period. Capital International Investors increased its position in shares of Pioneer Natural Resources by 45.1% in the 4th quarter. Capital International Investors now owns 6,105,125 shares of the oil and gas development company’s stock valued at $1,110,392,000 after acquiring an additional 1,898,932 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Pioneer Natural Resources by 20.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,290,431 shares of the oil and gas development company’s stock valued at $1,322,766,000 after acquiring an additional 903,653 shares during the period. Primecap Management Co. CA increased its position in shares of Pioneer Natural Resources by 8.5% in the 1st 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 during the period. Finally, Geode Capital Management LLC increased 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 acquiring an additional 29,148 shares during the period. Hedge funds and other institutional investors own 89.97% of the company’s stock.

Pioneer Natural Resources Trading Up 2.4 %

Shares of Pioneer Natural Resources stock opened at $239.62 on Friday. The firm has a market capitalization of $57.98 billion, a PE ratio of 9.91, a P/E/G ratio of 0.84 and a beta of 1.46. Pioneer Natural Resources has a twelve month low of $146.40 and a twelve month high of $288.46. The firm’s 50-day moving average price is $228.91 and its 200 day moving average price is $242.47. The company has a current ratio of 1.33, a quick ratio of 1.20 and a debt-to-equity ratio of 0.19.

Pioneer Natural Resources (NYSE:PXDGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The oil and gas development company reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $2.55 EPS. On average, sell-side analysts predict that Pioneer Natural Resources will post 33.4 EPS for the current fiscal year.

Pioneer Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Tuesday, September 6th will be paid a $8.57 dividend. This represents a $34.28 dividend on an annualized basis and a yield of 14.31%. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $7.38. The ex-dividend date of this dividend is Friday, September 2nd. Pioneer Natural Resources’s dividend payout ratio (DPR) is 18.19%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays cut their target price on Pioneer Natural Resources from $324.00 to $309.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 31st. Mizuho cut their target price on Pioneer Natural Resources from $334.00 to $316.00 and set a “buy” rating on the stock in a research report on Thursday, August 18th. Tudor Pickering downgraded Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Wells Fargo & Company cut their price target on Pioneer Natural Resources from $289.00 to $283.00 and set an “overweight” rating on the stock in a research report on Monday, July 11th. Finally, Tudor, Pickering, Holt & Co. downgraded Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $285.59.

Pioneer Natural Resources Profile

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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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