Capital Group Private Client Services Inc. Makes New Investment in Pioneer Natural Resources (NYSE:PXD)

Capital Group Private Client Services Inc. purchased a new position in Pioneer Natural Resources (NYSE:PXDGet Rating) in the 1st quarter, HoldingsChannel reports. The fund purchased 95,339 shares of the oil and gas development company’s stock, valued at approximately $23,838,000.

Several other institutional investors have also modified their holdings of PXD. Riverview Trust Co purchased a new stake in shares of Pioneer Natural Resources during the 1st quarter worth $29,000. Icapital Wealth LLC purchased a new stake in shares of Pioneer Natural Resources during the 1st quarter worth $33,000. Lee Financial Co lifted its position in shares of Pioneer Natural Resources by 423.1% during the 1st quarter. Lee Financial Co now owns 136 shares of the oil and gas development company’s stock worth $34,000 after purchasing an additional 110 shares during the last quarter. Tcwp LLC purchased a new stake in shares of Pioneer Natural Resources during the 1st quarter worth $34,000. Finally, CVA Family Office LLC lifted its position in shares of Pioneer Natural Resources by 55.6% during the 1st quarter. CVA Family Office LLC now owns 140 shares of the oil and gas development company’s stock worth $35,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.

Pioneer Natural Resources Price Performance

Shares of NYSE:PXD opened at $239.62 on Friday. The company has a 50-day simple moving average of $228.91 and a 200-day simple moving average of $242.47. Pioneer Natural Resources has a one year low of $146.40 and a one year high of $288.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.20 and a current ratio of 1.33. The stock has a market capitalization of $57.98 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.84 and a beta of 1.46.

Pioneer Natural Resources (NYSE:PXDGet Rating) last announced its earnings results on Tuesday, August 2nd. The oil and gas development company reported $9.36 EPS for the quarter, beating analysts’ consensus estimates of $8.63 by $0.73. Pioneer Natural Resources had a net margin of 28.29% and a return on equity of 28.26%. During the same period in the previous year, the business earned $2.55 earnings per share. On average, analysts predict that Pioneer Natural Resources will post 33.4 EPS for the current year.

Pioneer Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Tuesday, September 6th will be paid a dividend of $8.57 per share. This represents a $34.28 dividend on an annualized basis and a dividend yield of 14.31%. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $7.38. The ex-dividend date of this dividend is Friday, September 2nd. Pioneer Natural Resources’s payout ratio is 18.19%.

Wall Street Analyst Weigh In

PXD has been the subject of several recent analyst reports. Bank of America cut shares of Pioneer Natural Resources from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $272.00 to $244.00 in a research report on Tuesday, July 19th. Tudor, Pickering, Holt & Co. cut shares of Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Credit Suisse Group reduced their price target on shares of Pioneer Natural Resources from $290.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, August 3rd. Royal Bank of Canada cut shares of Pioneer Natural Resources from an “outperform” rating to a “sector perform” rating and set a $290.00 price target for the company. in a research report on Wednesday, July 6th. Finally, MKM Partners reissued a “buy” rating and issued a $264.00 price target on shares of Pioneer Natural Resources in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $285.59.

Pioneer Natural Resources Company 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. As of December 31, 2021, the company had proved undeveloped reserves and proved developed non-producing reserves of 130 million barrels of oil, 92 million barrels of NGLs, and 462 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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Institutional Ownership by Quarter for Pioneer Natural Resources (NYSE:PXD)

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