MAI Capital Management raised its position in shares of Pioneer Natural Resources (NYSE:PXD – Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,363 shares of the oil and gas development company’s stock after buying an additional 174 shares during the quarter. MAI Capital Management’s holdings in Pioneer Natural Resources were worth $1,095,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in PXD. Financial Counselors Inc. raised its position in shares of Pioneer Natural Resources by 24.4% in the 1st 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 last quarter. Glass Jacobson Investment Advisors llc purchased a new position in Pioneer Natural Resources in the 4th quarter worth about $170,000. Royal London Asset Management Ltd. raised its position in Pioneer Natural Resources by 5.4% in the 4th 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 buying an additional 4,349 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Pioneer Natural Resources by 42.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 85,212 shares of the oil and gas development company’s stock worth $17,404,000 after buying an additional 25,443 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in Pioneer Natural Resources by 25.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 26,617 shares of the oil and gas development company’s stock worth $5,436,000 after buying an additional 5,326 shares during the last quarter. Hedge funds and other institutional investors own 84.73% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Piper Sandler boosted their target price on Pioneer Natural Resources from $311.00 to $332.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. Benchmark assumed coverage on Pioneer Natural Resources in a research report on Wednesday, July 12th. They issued a “hold” rating for the company. Evercore ISI decreased their target price on Pioneer Natural Resources from $253.00 to $243.00 in a research report on Monday, July 10th. Royal Bank of Canada cut their price target on Pioneer Natural Resources from $270.00 to $260.00 in a research note on Friday, July 14th. Finally, Stifel Nicolaus boosted their price target on Pioneer Natural Resources from $275.00 to $281.00 and gave the company a “buy” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $261.80.
Pioneer Natural Resources Stock Up 0.5 %
NYSE PXD opened at $237.86 on Monday. The stock’s 50 day moving average is $215.83 and its 200 day moving average is $211.70. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 0.23. Pioneer Natural Resources has a 12 month low of $177.26 and a 12 month high of $274.70. The stock has a market cap of $55.45 billion, a PE ratio of 10.14, a P/E/G ratio of 1.40 and a beta of 1.43.
Pioneer Natural Resources Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Wednesday, September 6th will be issued a dividend of $1.84 per share. The ex-dividend date is Tuesday, September 5th. This represents a $7.36 annualized dividend and a dividend yield of 3.09%. Pioneer Natural Resources’s dividend payout ratio (DPR) is 21.31%.
Pioneer Natural Resources Profile
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.
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