Pioneer Natural Resources (NYSE:PXD) Shares Acquired by Canandaigua National Corp

Canandaigua National Corp grew its holdings in Pioneer Natural Resources (NYSE:PXDGet Rating) by 78.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,222 shares of the oil and gas development company’s stock after acquiring an additional 1,862 shares during the period. Canandaigua National Corp’s holdings in Pioneer Natural Resources were worth $942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Capital World Investors grew its stake in shares of Pioneer Natural Resources by 10.0% in the first quarter. Capital World Investors now owns 15,679,316 shares of the oil and gas development company’s stock worth $3,920,478,000 after acquiring an additional 1,423,102 shares in the last quarter. Capital International Investors grew its stake in shares of Pioneer Natural Resources by 25.1% in the first quarter. Capital International Investors now owns 7,639,978 shares of the oil and gas development company’s stock worth $1,910,622,000 after acquiring an additional 1,534,853 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Pioneer Natural Resources by 20.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,290,431 shares of the oil and gas development company’s stock worth $1,322,766,000 after acquiring an additional 903,653 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Pioneer Natural Resources by 8.5% in the first quarter. Primecap Management Co. CA now owns 5,200,646 shares of the oil and gas development company’s stock worth $1,300,318,000 after acquiring an additional 408,800 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Pioneer Natural Resources by 2.0% during the 1st quarter. Northern Trust Corp now owns 2,568,917 shares of the oil and gas development company’s stock worth $642,307,000 after purchasing an additional 51,444 shares during the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.

Pioneer Natural Resources Trading Down 1.9 %

Shares of Pioneer Natural Resources stock opened at $234.85 on Tuesday. Pioneer Natural Resources has a 52-week low of $146.40 and a 52-week high of $288.46. The company has a quick ratio of 1.20, a current ratio of 1.33 and a debt-to-equity ratio of 0.19. The company’s 50-day simple moving average is $231.75 and its 200-day simple moving average is $242.84. The firm has a market cap of $56.82 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.85 and a beta of 1.46.

Pioneer Natural Resources (NYSE:PXDGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The oil and gas development company reported $9.36 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business earned $2.55 EPS. As a group, equities research analysts anticipate that Pioneer Natural Resources will post 32.9 earnings per share for the current year.

Pioneer Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, September 6th were given a dividend of $8.57 per share. This is a positive change from Pioneer Natural Resources’s previous quarterly dividend of $7.38. This represents a $34.28 annualized dividend and a yield of 14.60%. The ex-dividend date was Friday, September 2nd. Pioneer Natural Resources’s dividend payout ratio is presently 18.19%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PXD. Wells Fargo & Company decreased their price objective on shares of Pioneer Natural Resources from $289.00 to $283.00 and set an “overweight” rating for the company in a research report on Monday, July 11th. 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 objective for the company. in a research report on Wednesday, July 6th. Piper Sandler decreased their price objective on shares of Pioneer Natural Resources from $345.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. Morgan Stanley decreased their price objective on shares of Pioneer Natural Resources from $274.00 to $267.00 and set an “equal weight” rating for the company in a research report on Monday, August 29th. Finally, KeyCorp began coverage on shares of Pioneer Natural Resources in a research report on Monday. They issued an “overweight” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Pioneer Natural Resources has an average rating of “Moderate Buy” and an average price target of $285.59.

About Pioneer Natural Resources

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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.

See Also

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

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