Avantax Advisory Services Inc. Acquires 587 Shares of Pioneer Natural Resources (NYSE:PXD)

Posted by Defense World Staff on Jul 23rd, 2023

Pioneer Natural Resources logo Avantax Advisory Services Inc. lifted its holdings in Pioneer Natural Resources (NYSE:PXD – Free Report) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,183 shares of the oil and gas development company’s stock after acquiring an additional 587 shares during the period. Avantax Advisory Services Inc.’s holdings in Pioneer Natural Resources were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PXD. CIBC Private Wealth Group LLC raised its position in shares of Pioneer Natural Resources by 108.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,469,309 shares of the oil and gas development company’s stock worth $859,012,000 after acquiring an additional 1,802,353 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Pioneer Natural Resources by 46.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,242,203 shares of the oil and gas development company’s stock worth $968,877,000 after acquiring an additional 1,343,601 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Pioneer Natural Resources by 75,598.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 996,195 shares of the oil and gas development company’s stock worth $227,521,000 after acquiring an additional 994,879 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Pioneer Natural Resources in the 1st quarter worth about $77,871,000. Finally, Pacer Advisors Inc. increased its position in Pioneer Natural Resources by 47.8% in the 4th quarter. Pacer Advisors Inc. now owns 919,282 shares of the oil and gas development company’s stock valued at $209,955,000 after buying an additional 297,117 shares in the last quarter. 84.73% of the stock is owned by institutional investors.

Pioneer Natural Resources Price Performance

Shares of NYSE PXD opened at $215.85 on Friday. Pioneer Natural Resources has a twelve month low of $177.26 and a twelve month high of $274.70. The stock’s 50 day moving average price is $206.32 and its 200-day moving average price is $212.43. The company has a market capitalization of $50.45 billion, a PE ratio of 7.65, a PEG ratio of 1.30 and a beta of 1.41. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.23.

Pioneer Natural Resources (NYSE:PXD – Get Free Report) last posted its quarterly earnings data on Wednesday, April 26th. The oil and gas development company reported $5.21 EPS for the quarter, beating the consensus estimate of $4.90 by $0.31. Pioneer Natural Resources had a return on equity of 30.71% and a net margin of 31.15%. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.98 billion. During the same quarter in the prior year, the business earned $7.74 earnings per share. Pioneer Natural Resources’s revenue for the quarter was down 26.4% on a year-over-year basis. On average, equities analysts anticipate that Pioneer Natural Resources will post 19.45 EPS for the current year.

Pioneer Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Thursday, June 1st were paid a $3.34 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $13.36 annualized dividend and a yield of 6.19%. Pioneer Natural Resources’s payout ratio is 17.72%.

Analysts Set New Price Targets

PXD has been the subject of a number of research analyst reports. Piper Sandler decreased their target price on Pioneer Natural Resources from $319.00 to $315.00 in a research report on Tuesday, June 13th. Royal Bank of Canada decreased their target price on Pioneer Natural Resources from $270.00 to $260.00 in a research report on Friday, July 14th. UBS Group initiated coverage on Pioneer Natural Resources in a research report on Wednesday, April 19th. They issued a “neutral” rating and a $238.00 target price for the company. Stifel Nicolaus decreased their target price on Pioneer Natural Resources from $290.00 to $273.00 in a research report on Monday, May 22nd. Finally, Morgan Stanley decreased their price objective on Pioneer Natural Resources from $223.00 to $219.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $256.37.

Pioneer Natural Resources Profile

(Free Report)

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.