Kestra Private Wealth Services LLC boosted its position in shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) by 10.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,247 shares of the oil and gas development company’s stock after buying an additional 116 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Pioneer Natural Resources were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gradient Investments LLC raised its holdings in Pioneer Natural Resources by 30.7% during the 1st quarter. Gradient Investments LLC now owns 1,664 shares of the oil and gas development company’s stock valued at $416,000 after buying an additional 391 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Pioneer Natural Resources by 321.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 337 shares of the oil and gas development company’s stock valued at $85,000 after buying an additional 257 shares during the last quarter. First National Bank of Omaha raised its holdings in Pioneer Natural Resources by 40.7% during the 1st quarter. First National Bank of Omaha now owns 6,147 shares of the oil and gas development company’s stock valued at $1,537,000 after buying an additional 1,777 shares during the last quarter. Advisory Services Network LLC raised its holdings in Pioneer Natural Resources by 47.0% in the 1st quarter. Advisory Services Network LLC now owns 9,051 shares of the oil and gas development company’s stock worth $2,265,000 after purchasing an additional 2,895 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Pioneer Natural Resources in the 1st quarter worth $204,000. 89.97% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on PXD. Barclays decreased their price objective on shares of Pioneer Natural Resources from $324.00 to $309.00 and set an “overweight” rating for the company in a report on Wednesday, August 31st. Wells Fargo & Company reduced their target price on shares of 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. Bank of America downgraded shares of Pioneer Natural Resources from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $272.00 to $244.00 in a research report on Tuesday, July 19th. Truist Financial lowered their target price on shares of Pioneer Natural Resources from $247.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, August 18th. Finally, Tudor, Pickering, Holt & Co. cut shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research note 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $285.35.
Pioneer Natural Resources Price Performance
Pioneer Natural Resources (NYSE:PXD – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The oil and gas development company reported $9.36 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company earned $2.55 earnings per share. Sell-side analysts anticipate that Pioneer Natural Resources will post 32.9 earnings per share for the current year.
Pioneer Natural Resources Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, September 6th were given a dividend of $8.57 per share. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $7.38. This represents a $34.28 annualized dividend and a yield of 14.79%. The ex-dividend date was Friday, September 2nd. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 18.19%.
Pioneer Natural Resources Company 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. 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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