Sunbelt Securities Inc. Acquires 345 Shares of Pioneer Natural Resources (NYSE:PXD)

Posted by Defense World Staff on Mar 16th, 2023

Pioneer Natural Resources logo Sunbelt Securities Inc. boosted its holdings in Pioneer Natural Resources (NYSE:PXD – Get Rating) by 6.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,535 shares of the oil and gas development company’s stock after acquiring an additional 345 shares during the quarter. Sunbelt Securities Inc.’s holdings in Pioneer Natural Resources were worth $1,198,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its stake in Pioneer Natural Resources by 1.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 30,685 shares of the oil and gas development company’s stock worth $6,845,000 after acquiring an additional 386 shares during the last quarter. Symmetry Partners LLC increased its stake in Pioneer Natural Resources by 6.1% in the 3rd quarter. Symmetry Partners LLC now owns 5,420 shares of the oil and gas development company’s stock worth $1,174,000 after acquiring an additional 313 shares during the last quarter. Guardian Capital Advisors LP increased its position in shares of Pioneer Natural Resources by 296.3% during the 3rd quarter. Guardian Capital Advisors LP now owns 11,395 shares of the oil and gas development company’s stock valued at $2,813,000 after purchasing an additional 8,520 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Pioneer Natural Resources by 106.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 169 shares of the oil and gas development company’s stock valued at $37,000 after purchasing an additional 87 shares during the last quarter. Finally, Lyell Wealth Management LP increased its position in shares of Pioneer Natural Resources by 2.6% during the 3rd quarter. Lyell Wealth Management LP now owns 1,769 shares of the oil and gas development company’s stock valued at $383,000 after purchasing an additional 45 shares during the last quarter. 89.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PXD. Raymond James reduced their price objective on Pioneer Natural Resources from $310.00 to $300.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 26th. KeyCorp reduced their price objective on Pioneer Natural Resources from $290.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, December 8th. Sanford C. Bernstein reduced their price objective on Pioneer Natural Resources from $283.00 to $241.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 28th. Piper Sandler reduced their price objective on Pioneer Natural Resources from $340.00 to $322.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 7th. Finally, Wells Fargo & Company upgraded Pioneer Natural Resources from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $225.00 to $220.00 in a report on Thursday, March 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $266.00.

Pioneer Natural Resources Stock Performance

Pioneer Natural Resources stock opened at $181.85 on Thursday. Pioneer Natural Resources has a twelve month low of $180.38 and a twelve month high of $288.46. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $42.73 billion, a P/E ratio of 5.85, a PEG ratio of 1.01 and a beta of 1.41. The stock’s 50 day moving average is $220.15 and its 200 day moving average is $233.26.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The oil and gas development company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.83 by $0.08. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.59 billion. Pioneer Natural Resources had a return on equity of 33.15% and a net margin of 32.29%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the company earned $4.58 earnings per share. On average, equities research analysts predict that Pioneer Natural Resources will post 23.01 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Monday, March 6th will be issued a dividend of $5.58 per share. This represents a $22.32 dividend on an annualized basis and a dividend yield of 12.27%. The ex-dividend date is Friday, March 3rd. Pioneer Natural Resources’s payout ratio is 14.17%.

About Pioneer Natural Resources

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Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.