Gilman Hill Asset Management LLC bought a new stake in Pioneer Natural Resources (NYSE:PXD – Get Rating) in the second quarter, Holdings Channel.com reports. The institutional investor bought 7,657 shares of the oil and gas development company’s stock, valued at approximately $1,708,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors increased its holdings in Pioneer Natural Resources by 45.1% during the 4th 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 purchasing an additional 1,898,932 shares in the last quarter. Capital World Investors increased its holdings in Pioneer Natural Resources by 10.0% during the 1st 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 purchasing an additional 1,423,102 shares in the last quarter. First Trust Advisors LP increased its holdings in Pioneer Natural Resources by 236.0% during the 1st 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 purchasing an additional 1,146,401 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Pioneer Natural Resources by 20.6% during the 1st 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 purchasing an additional 903,653 shares in the last quarter. Finally, Abrams Bison Investments LLC bought a new stake in Pioneer Natural Resources during the 4th quarter worth approximately $108,764,000. 89.97% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on PXD shares. Citigroup decreased their price objective on Pioneer Natural Resources from $260.00 to $257.00 and set a “buy” rating for the company in a report on Wednesday. KeyCorp started coverage on Pioneer Natural Resources in a report on Monday. They issued an “overweight” rating and a $290.00 target price for the company. Tudor Pickering lowered Pioneer Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Royal Bank of Canada lowered Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and set a $290.00 target price for the company. in a report on Wednesday, July 6th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $264.00 target price on shares of Pioneer Natural Resources in a report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $287.65.
Pioneer Natural Resources Price Performance
Pioneer Natural Resources (NYSE:PXD – Get Rating) last issued 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 analysts’ consensus estimates of $8.81 by $0.55. Pioneer Natural Resources had a return on equity of 28.26% and a net margin of 28.29%. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the business posted $2.55 earnings per share. As a group, equities analysts predict that Pioneer Natural Resources will post 32.75 earnings per share for the current fiscal year.
Pioneer Natural Resources Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, September 6th were given a $8.57 dividend. This represents a $34.28 dividend on an annualized basis and a dividend yield of 16.28%. The ex-dividend date of this dividend was Friday, September 2nd. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $7.38. Pioneer Natural Resources’s dividend payout ratio (DPR) is 18.19%.
Pioneer Natural Resources 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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