CWA Asset Management Group LLC Boosts Stake in Pioneer Natural Resources (NYSE:PXD)

Posted by on Mar 19th, 2023

CWA Asset Management Group LLC grew its position in shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) by 8.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,367 shares of the oil and gas development company’s stock after acquiring an additional 107 shares during the period. CWA Asset Management Group LLC’s holdings in Pioneer Natural Resources were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Pioneer Natural Resources by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,283,043 shares of the oil and gas development company’s stock worth $4,175,358,000 after acquiring an additional 511,005 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Pioneer Natural Resources by 9.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,078,403 shares of the oil and gas development company’s stock worth $1,532,686,000 after purchasing an additional 589,073 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Pioneer Natural Resources by 144.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,346,688 shares of the oil and gas development company’s stock worth $969,659,000 after purchasing an additional 2,569,044 shares in the last quarter. Northern Trust Corp boosted its position in shares of Pioneer Natural Resources by 2.0% in the 1st quarter. Northern Trust Corp now owns 2,568,917 shares of the oil and gas development company’s stock worth $642,307,000 after purchasing an additional 51,444 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Pioneer Natural Resources by 9.8% in the 3rd quarter. First Trust Advisors LP now owns 2,123,840 shares of the oil and gas development company’s stock worth $459,875,000 after purchasing an additional 190,321 shares in the last quarter. Hedge funds and other institutional investors own 89.75% of the company’s stock.

Pioneer Natural Resources Price Performance

NYSE PXD opened at $182.05 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.85. The stock has a market capitalization of $42.78 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 0.96 and a beta of 1.41. Pioneer Natural Resources has a 1-year low of $177.26 and a 1-year high of $288.46. The business’s fifty day moving average price is $218.31 and its 200-day moving average price is $232.22.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The oil and gas development company reported $5.91 EPS for the quarter, topping the consensus estimate of $5.83 by $0.08. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.59 billion. Pioneer Natural Resources had a return on equity of 33.15% and a net margin of 32.29%. Pioneer Natural Resources’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.58 EPS. On average, equities analysts predict that Pioneer Natural Resources will post 22.67 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Monday, March 6th were paid a $5.58 dividend. The ex-dividend date of this dividend was Friday, March 3rd. This represents a $22.32 annualized dividend and a dividend yield of 12.26%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 14.17%.

Analyst Ratings Changes

A number of brokerages have recently commented on PXD. Tudor, Pickering, Holt & Co. raised Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research report on Monday, February 27th. Morgan Stanley dropped their price target on Pioneer Natural Resources from $261.00 to $247.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 24th. Piper Sandler lowered 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. Roth Capital reaffirmed a “buy” rating on shares of Pioneer Natural Resources in a research report on Wednesday, February 22nd. Finally, StockNews.com started coverage on Pioneer Natural Resources in a research report on Thursday. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $263.68.

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.

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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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