Black Maple Capital Management LP Invests $245,000 in Pioneer Natural Resources (NYSE:PXD)

Black Maple Capital Management LP purchased a new stake in Pioneer Natural Resources (NYSE:PXD) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,200 shares of the oil and gas development company’s stock, valued at approximately $245,000.

Several other hedge funds also recently added to or reduced their stakes in PXD. Tradewinds Capital Management LLC grew its position in shares of Pioneer Natural Resources by 148.3% in the 1st quarter. Tradewinds Capital Management LLC now owns 149 shares of the oil and gas development company’s stock valued at $30,000 after buying an additional 89 shares during the last quarter. Carmichael Hill & Associates Inc. increased its position in shares of Pioneer Natural Resources by 175.0% during the first quarter. Carmichael Hill & Associates Inc. now owns 165 shares of the oil and gas development company’s stock worth $34,000 after purchasing an additional 105 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Pioneer Natural Resources in the 1st quarter valued at about $35,000. Hanson & Doremus Investment Management acquired a new stake in shares of Pioneer Natural Resources in the 1st quarter valued at about $36,000. Finally, American National Bank grew its stake in Pioneer Natural Resources by 1,228.6% during the 1st quarter. American National Bank now owns 186 shares of the oil and gas development company’s stock worth $38,000 after buying an additional 172 shares during the last quarter. 82.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com started coverage on Pioneer Natural Resources in a report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley raised their price objective on shares of Pioneer Natural Resources from $219.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, August 18th. Truist Financial upped their target price on shares of Pioneer Natural Resources from $196.00 to $225.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. JPMorgan Chase & Co. raised Pioneer Natural Resources from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $251.00 to $264.00 in a report on Wednesday, August 16th. Finally, Benchmark initiated coverage on Pioneer Natural Resources in a research note on Wednesday, July 12th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $262.80.

Pioneer Natural Resources Stock Performance

NYSE:PXD opened at $233.64 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $54.47 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43. The firm has a 50-day moving average price of $226.85 and a two-hundred day moving average price of $213.84. Pioneer Natural Resources has a twelve month low of $177.26 and a twelve month high of $274.70.

Pioneer Natural Resources (NYSE:PXD) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas development company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $0.37. Pioneer Natural Resources had a net margin of 28.46% and a return on equity of 25.53%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.68 billion. As a group, research analysts expect that Pioneer Natural Resources will post 20.43 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, September 6th will be paid a dividend of $1.84 per share. This represents a $7.36 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Tuesday, September 5th. Pioneer Natural Resources’s payout ratio is currently 21.31%.

About Pioneer Natural Resources

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.