Diversified Trust Co Boosts Stake in Pioneer Natural Resources (NYSE:PXD)

Posted by on Mar 26th, 2023

Diversified Trust Co increased its stake in shares of Pioneer Natural Resources (NYSE:PXD – Get Rating) by 23.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,628 shares of the oil and gas development company’s stock after buying an additional 689 shares during the quarter. Diversified Trust Co’s holdings in Pioneer Natural Resources were worth $829,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Cowa LLC purchased a new stake in Pioneer Natural Resources during the 3rd quarter valued at about $27,000. Kistler Tiffany Companies LLC purchased a new stake in Pioneer Natural Resources in the third quarter valued at approximately $27,000. Evermay Wealth Management LLC increased its holdings in Pioneer Natural Resources by 48.2% in the 3rd quarter. Evermay Wealth Management LLC now owns 123 shares of the oil and gas development company’s stock worth $27,000 after buying an additional 40 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Pioneer Natural Resources in the 4th quarter worth approximately $27,000. Finally, Ronald Blue Trust Inc. lifted its stake in 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 acquiring an additional 58 shares during the period. 89.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Pioneer Natural Resources from $261.00 to $247.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 24th. Barclays reduced their price objective on Pioneer Natural Resources from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, March 16th. KeyCorp lowered their target price on Pioneer Natural Resources from $290.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, December 8th. Roth Capital reiterated a “buy” rating on shares of Pioneer Natural Resources in a research report on Wednesday, February 22nd. Finally, StockNews.com initiated coverage on Pioneer Natural Resources in a report on Thursday, March 16th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Pioneer Natural Resources has a consensus rating of “Moderate Buy” and an average target price of $264.58.

Pioneer Natural Resources Stock Up 1.6 %

PXD opened at $192.22 on Friday. The company has a market cap of $45.17 billion, a PE ratio of 6.19, a price-to-earnings-growth ratio of 0.98 and a beta of 1.41. Pioneer Natural Resources has a twelve month low of $177.26 and a twelve month high of $288.46. The company has a 50-day moving average price of $213.95 and a 200 day moving average price of $230.33. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.18.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last announced its earnings results on Wednesday, February 22nd. The oil and gas development company reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.83 by $0.08. Pioneer Natural Resources had a return on equity of 33.15% and a net margin of 32.29%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter in the prior year, the firm earned $4.58 earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts expect that Pioneer Natural Resources will post 22.68 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Monday, March 6th were issued a dividend of $5.58 per share. This represents a $22.32 dividend on an annualized basis and a dividend yield of 11.61%. The ex-dividend date of this dividend was Friday, March 3rd. Pioneer Natural Resources’s payout ratio is 14.17%.

Pioneer Natural Resources Company Profile

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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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