Sandy Spring Bank Takes $43,000 Position in Pioneer Natural Resources (NYSE:PXD)

Posted by Defense World Staff on Aug 8th, 2023

Pioneer Natural Resources logo Sandy Spring Bank purchased a new stake in shares of Pioneer Natural Resources (NYSE:PXD – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 212 shares of the oil and gas development company’s stock, valued at approximately $43,000.

Other large investors have also recently modified their holdings of the company. Montag A & Associates Inc. raised its stake in Pioneer Natural Resources by 36.3% during the fourth quarter. Montag A & Associates Inc. now owns 199 shares of the oil and gas development company’s stock worth $45,000 after buying an additional 53 shares during the last quarter. Financial Counselors Inc. grew its holdings in Pioneer Natural Resources by 24.4% in the first quarter. Financial Counselors Inc. now owns 1,101 shares of the oil and gas development company’s stock worth $225,000 after purchasing an additional 216 shares during the period. Glass Jacobson Investment Advisors llc acquired a new stake in Pioneer Natural Resources in the fourth quarter worth $170,000. Royal London Asset Management Ltd. grew its holdings in Pioneer Natural Resources by 5.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 84,950 shares of the oil and gas development company’s stock worth $19,402,000 after purchasing an additional 4,349 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in Pioneer Natural Resources by 42.6% in the first quarter. Janney Montgomery Scott LLC now owns 85,212 shares of the oil and gas development company’s stock worth $17,404,000 after purchasing an additional 25,443 shares during the period. Institutional investors own 84.73% of the company’s stock.

Pioneer Natural Resources Stock Performance

NYSE PXD opened at $232.32 on Tuesday. The company’s 50 day moving average is $209.65 and its 200-day moving average is $211.67. Pioneer Natural Resources has a 12-month low of $177.26 and a 12-month high of $274.70. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 0.23. The firm has a market cap of $54.16 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 1.44 and a beta of 1.43.

Pioneer Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, September 6th will be issued a dividend of $1.84 per share. This represents a $7.36 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Tuesday, September 5th. Pioneer Natural Resources’s dividend payout ratio (DPR) is presently 21.31%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. The Goldman Sachs Group raised their price target on shares of Pioneer Natural Resources from $217.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, April 21st. Piper Sandler reduced their price objective on shares of Pioneer Natural Resources from $319.00 to $315.00 in a report on Tuesday, June 13th. UBS Group assumed coverage on shares of Pioneer Natural Resources in a report on Wednesday, April 19th. They set a “neutral” rating and a $238.00 price objective for the company. Truist Financial lifted their price objective on shares of Pioneer Natural Resources from $196.00 to $225.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Stifel Nicolaus lifted their price objective on shares of Pioneer Natural Resources from $273.00 to $275.00 and gave the company a “buy” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.74.

Read Our Latest Research Report on PXD

Pioneer Natural Resources Company 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.