Gilman Hill Asset Management LLC Takes $1.71 Million Position in Pioneer Natural Resources (NYSE:PXD)

Gilman Hill Asset Management LLC acquired a new stake in shares of Pioneer Natural Resources (NYSE:PXDGet Rating) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,657 shares of the oil and gas development company’s stock, valued at approximately $1,708,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital Analysts LLC increased its position in shares of Pioneer Natural Resources by 0.3% during the first quarter. Capital Analysts LLC now owns 14,291 shares of the oil and gas development company’s stock valued at $3,573,000 after purchasing an additional 41 shares during the period. Savant Capital LLC grew its position in Pioneer Natural Resources by 3.4% in the first quarter. Savant Capital LLC now owns 1,466 shares of the oil and gas development company’s stock valued at $367,000 after acquiring an additional 48 shares during the period. CVA Family Office LLC grew its position in Pioneer Natural Resources by 55.6% in the first quarter. CVA Family Office LLC now owns 140 shares of the oil and gas development company’s stock valued at $35,000 after acquiring an additional 50 shares during the period. Rosenberg Matthew Hamilton grew its position in Pioneer Natural Resources by 3.2% in the second quarter. Rosenberg Matthew Hamilton now owns 1,791 shares of the oil and gas development company’s stock valued at $401,000 after acquiring an additional 56 shares during the period. Finally, IndexIQ Advisors LLC grew its position in Pioneer Natural Resources by 9.6% in the first quarter. IndexIQ Advisors LLC now owns 717 shares of the oil and gas development company’s stock valued at $179,000 after acquiring an additional 63 shares during the period. 89.97% of the stock is currently owned by institutional investors.

Pioneer Natural Resources Stock Down 7.1 %

Shares of NYSE:PXD traded down $16.04 during mid-day trading on Friday, reaching $210.61. 48,366 shares of the stock were exchanged, compared to its average volume of 2,379,921. The stock’s 50 day simple moving average is $233.37 and its 200-day simple moving average is $242.55. Pioneer Natural Resources has a one year low of $150.39 and a one year 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 has a market cap of $50.96 billion, a P/E ratio of 9.37, a P/E/G ratio of 0.81 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 EPS for the quarter, beating the consensus estimate of $8.81 by $0.55. Pioneer Natural Resources had a return on equity of 28.26% and a net margin of 28.29%. The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the prior year, the firm posted $2.55 earnings per share. As a group, equities research analysts predict that Pioneer Natural Resources will post 32.75 EPS for the current year.

Pioneer Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, September 6th were given a dividend of $8.57 per share. The ex-dividend date of this dividend was Friday, September 2nd. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $7.38. This represents a $34.28 annualized dividend and a yield of 16.28%. Pioneer Natural Resources’s dividend payout ratio is 18.19%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PXD. Wells Fargo & Company lowered their price target on Pioneer Natural Resources from $289.00 to $283.00 and set an “overweight” rating on the stock in a research report on Monday, July 11th. Truist Financial lowered their price target on Pioneer Natural Resources from $247.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, August 18th. Tudor, Pickering, Holt & Co. cut Pioneer Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Piper Sandler reduced their price objective on Pioneer Natural Resources from $345.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, July 22nd. Finally, Bank of America lowered Pioneer Natural Resources from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $272.00 to $244.00 in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pioneer Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of $287.65.

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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