Arete Wealth Advisors LLC Purchases New Stake in Pioneer Natural Resources (NYSE:PXD)

Arete Wealth Advisors LLC acquired a new position in Pioneer Natural Resources (NYSE:PXD) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,862 shares of the oil and gas development company’s stock, valued at approximately $380,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PXD. Ameriprise Financial Inc. grew its stake in shares of Pioneer Natural Resources by 8.2% during the 1st quarter. Ameriprise Financial Inc. now owns 1,679,960 shares of the oil and gas development company’s stock worth $341,602,000 after purchasing an additional 127,684 shares during the period. Titleist Asset Management LLC acquired a new position in Pioneer Natural Resources during the first quarter worth about $1,311,000. Centaurus Financial Inc. increased its holdings in Pioneer Natural Resources by 30.8% in the first quarter. Centaurus Financial Inc. now owns 2,554 shares of the oil and gas development company’s stock valued at $522,000 after buying an additional 602 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Pioneer Natural Resources by 8.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,031 shares of the oil and gas development company’s stock valued at $2,661,000 after acquiring an additional 1,064 shares during the period. Finally, Advisory Services Network LLC boosted its stake in shares of Pioneer Natural Resources by 20.1% during the 1st quarter. Advisory Services Network LLC now owns 18,105 shares of the oil and gas development company’s stock worth $3,698,000 after acquiring an additional 3,026 shares in the last quarter. Institutional investors and hedge funds own 82.72% of the company’s stock.

Pioneer Natural Resources Stock Down 1.4 %

Shares of PXD opened at $234.00 on Friday. Pioneer Natural Resources has a fifty-two week low of $177.26 and a fifty-two week high of $274.70. The company’s fifty day moving average is $229.22 and its two-hundred day moving average is $214.75. The firm has a market cap of $54.55 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.43. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 0.23.

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

Pioneer Natural Resources Cuts Dividend

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

Analysts Set New Price Targets

PXD has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Pioneer Natural Resources from $245.00 to $265.00 and gave the stock a “hold” rating in a report on Monday, August 28th. Truist Financial boosted their price objective on shares of Pioneer Natural Resources from $196.00 to $225.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Benchmark assumed coverage on shares of Pioneer Natural Resources in a report on Wednesday, July 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. raised shares of Pioneer Natural Resources from a “neutral” rating to an “overweight” rating and upped their price target for the company from $251.00 to $264.00 in a report on Wednesday, August 16th. Finally, UBS Group raised their price objective on shares of Pioneer Natural Resources from $224.00 to $269.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.80.

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.