Hennessy Advisors Inc. Purchases 12,400 Shares of Pioneer Natural Resources (NYSE:PXD)

Posted by Defense World Staff on Jun 26th, 2023

Pioneer Natural Resources logo Hennessy Advisors Inc. increased its position in Pioneer Natural Resources (NYSE:PXD – Get Rating) by 278.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,850 shares of the oil and gas development company’s stock after acquiring an additional 12,400 shares during the quarter. Hennessy Advisors Inc.’s holdings in Pioneer Natural Resources were worth $3,441,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in Pioneer Natural Resources in the 4th quarter worth $27,000. Evermay Wealth Management LLC increased its holdings 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 worth $27,000 after purchasing an additional 40 shares during the period. Accurate Wealth Management LLC bought a new position in shares of Pioneer Natural Resources during the 4th quarter worth about $34,000. Tradewinds Capital Management LLC increased its holdings in shares of Pioneer Natural Resources by 148.3% during the 1st quarter. Tradewinds Capital Management LLC now owns 149 shares of the oil and gas development company’s stock worth $30,000 after purchasing an additional 89 shares during the period. Finally, MinichMacGregor Wealth Management LLC bought a new position in shares of Pioneer Natural Resources during the 4th quarter worth about $36,000. Institutional investors own 84.73% of the company’s stock.

Pioneer Natural Resources Price Performance

Shares of PXD stock opened at $198.66 on Monday. Pioneer Natural Resources has a 1 year low of $177.26 and a 1 year high of $274.70. The firm’s 50 day moving average is $209.65 and its 200-day moving average is $214.50. The firm has a market capitalization of $46.43 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 1.13 and a beta of 1.43. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23.

Pioneer Natural Resources (NYSE:PXD – Get Rating) last announced its earnings results on Wednesday, April 26th. The oil and gas development company reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.90 by $0.31. Pioneer Natural Resources had a net margin of 31.15% and a return on equity of 30.71%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.98 billion. During the same period in the prior year, the business earned $7.74 earnings per share. Pioneer Natural Resources’s quarterly revenue was down 26.4% on a year-over-year basis. Sell-side analysts forecast that Pioneer Natural Resources will post 20.58 EPS for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Thursday, June 1st were given a dividend of $3.34 per share. The ex-dividend date was Wednesday, May 31st. This represents a $13.36 dividend on an annualized basis and a dividend yield of 6.73%. Pioneer Natural Resources’s payout ratio is 17.72%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PXD. Truist Financial dropped their price objective on shares of Pioneer Natural Resources from $229.00 to $220.00 in a report on Tuesday, April 11th. Mizuho dropped their price objective on shares of Pioneer Natural Resources from $293.00 to $265.00 in a report on Friday, March 10th. Tudor Pickering upgraded shares of Pioneer Natural Resources from a “hold” rating to a “buy” rating in a report on Monday, February 27th. Wells Fargo & Company raised shares of Pioneer Natural Resources from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $225.00 to $220.00 in a research note on Thursday, March 2nd. Finally, Barclays lowered their target price on shares of Pioneer Natural Resources from $280.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, March 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $258.50.

Pioneer Natural Resources Profile

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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. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.