8,400 Shares in Pioneer Natural Resources (NYSE:PXD) Purchased by New Century Advisors LLC

New Century Advisors LLC acquired a new position in shares of Pioneer Natural Resources (NYSE:PXDGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,400 shares of the oil and gas development company’s stock, valued at approximately $1,874,000. Pioneer Natural Resources makes up about 2.1% of New Century Advisors LLC’s portfolio, making the stock its 11th largest position.

Several other hedge funds have also bought and sold shares of PXD. Capital International Investors boosted its stake in Pioneer Natural Resources by 45.1% during 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 acquiring an additional 1,898,932 shares in the last quarter. Capital World Investors lifted its stake in shares of Pioneer Natural Resources by 10.0% in the first quarter. Capital World Investors now owns 15,679,316 shares of the oil and gas development company’s stock worth $3,920,478,000 after buying an additional 1,423,102 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Pioneer Natural Resources by 236.0% in the first quarter. First Trust Advisors LP now owns 1,632,267 shares of the oil and gas development company’s stock worth $408,116,000 after buying an additional 1,146,401 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Pioneer Natural Resources by 20.6% in the first 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 buying an additional 903,653 shares in the last quarter. Finally, Abrams Bison Investments LLC bought a new position in shares of Pioneer Natural Resources in the fourth quarter worth approximately $108,764,000. Institutional investors own 89.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PXD. Morgan Stanley dropped their target price on shares of Pioneer Natural Resources from $274.00 to $267.00 and set an “equal weight” rating on the stock in a research note on Monday, August 29th. Piper Sandler dropped their target price 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. Citigroup dropped their target price on shares of Pioneer Natural Resources from $260.00 to $257.00 and set a “buy” rating on the stock in a research note on Wednesday. Tudor Pickering downgraded shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Finally, Bank of America downgraded shares of Pioneer Natural Resources from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $272.00 to $244.00 in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $287.65.

Pioneer Natural Resources Price Performance

Shares of Pioneer Natural Resources stock traded down $18.93 during trading on Friday, reaching $207.72. 139,982 shares of the stock traded hands, compared to its average volume of 2,379,921. The company has a market capitalization of $50.26 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 0.81 and a beta of 1.46. The business has a fifty day simple moving average of $233.37 and a two-hundred day simple moving average of $242.55. 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 has a 52-week low of $150.39 and a 52-week high of $288.46.

Pioneer Natural Resources (NYSE:PXDGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The oil and gas development company reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates of $8.81 by $0.55. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.93 billion. Pioneer Natural Resources had a return on equity of 28.26% and a net margin of 28.29%. During the same quarter last year, the business posted $2.55 earnings per share. Sell-side analysts expect that Pioneer Natural Resources will post 32.75 EPS for the current year.

Pioneer Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Tuesday, September 6th were given a dividend of $8.57 per share. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $7.38. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $34.28 dividend on an annualized basis and a dividend yield of 16.50%. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 18.19%.

Pioneer Natural Resources Company 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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