Beacon Investment Advisory Services Inc. Sells 299 Shares of Pioneer Natural Resources (NYSE:PXD)

Posted by on Mar 24th, 2023

Beacon Investment Advisory Services Inc. reduced its position in Pioneer Natural Resources (NYSE:PXD – Get Rating) by 18.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,300 shares of the oil and gas development company’s stock after selling 299 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Pioneer Natural Resources were worth $297,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PXD. Cowa LLC purchased a new stake in shares of Pioneer Natural Resources during the 3rd quarter valued at $27,000. Kistler Tiffany Companies LLC purchased a new stake in shares of Pioneer Natural Resources during the 3rd quarter valued at $27,000. Evermay Wealth Management LLC increased its position in shares of Pioneer Natural Resources by 48.2% during the 3rd quarter. Evermay Wealth Management LLC now owns 123 shares of the oil and gas development company’s stock valued at $27,000 after purchasing an additional 40 shares during the last quarter. Ronald Blue Trust Inc. increased its position in shares of Pioneer Natural Resources by 84.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 127 shares of the oil and gas development company’s stock valued at $29,000 after purchasing an additional 58 shares during the last quarter. Finally, Accurate Wealth Management LLC purchased a new stake in shares of Pioneer Natural Resources during the 4th quarter valued at $34,000. 89.75% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Trading Down 0.3 %

Shares of NYSE:PXD opened at $189.18 on Friday. The company has a market cap of $44.46 billion, a P/E ratio of 6.09, a PEG ratio of 1.01 and a beta of 1.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.85. Pioneer Natural Resources has a 1 year low of $177.26 and a 1 year high of $288.46. The stock’s fifty day moving average price is $214.89 and its 200-day moving average price is $230.74.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The oil and gas development company reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.83 by $0.08. The firm had revenue of $5.11 billion for 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 quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.58 earnings per share. Sell-side analysts expect that Pioneer Natural Resources will post 22.68 earnings per share for the current year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Monday, March 6th were given a $5.58 dividend. This represents a $22.32 dividend on an annualized basis and a yield of 11.80%. The ex-dividend date was Friday, March 3rd. Pioneer Natural Resources’s payout ratio is 14.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Roth Capital reaffirmed a “buy” rating on shares of Pioneer Natural Resources in a research report on Wednesday, February 22nd. Tudor, Pickering, Holt & Co. upgraded Pioneer Natural Resources from a “hold” rating to a “buy” rating in a research note on Monday, February 27th. Tudor Pickering upgraded 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 for the company in a research report on Tuesday, January 24th. Finally, Susquehanna dropped their target price on Pioneer Natural Resources from $286.00 to $266.00 and set a “positive” rating for the company in a research report on Monday, February 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Pioneer Natural Resources currently has an average rating of “Moderate Buy” and an average price target of $264.58.

Pioneer Natural Resources Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding PXD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pioneer Natural Resources (NYSE:PXD – Get Rating).

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

Receive News & Ratings for Pioneer Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.