Tamar Securities LLC lifted its stake in Pioneer Natural Resources (NYSE:PXD – Get Rating) by 16.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,716 shares of the oil and gas development company’s stock after acquiring an additional 4,124 shares during the quarter. Pioneer Natural Resources makes up approximately 2.0% of Tamar Securities LLC’s investment portfolio, making the stock its 26th largest position. Tamar Securities LLC’s holdings in Pioneer Natural Resources were worth $6,218,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of PXD. Massachusetts Financial Services Co. MA grew its position in Pioneer Natural Resources by 22.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,489,330 shares of the oil and gas development company’s stock valued at $1,447,639,000 after purchasing an additional 1,198,899 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Pioneer Natural Resources by 144.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,346,688 shares of the oil and gas development company’s stock valued at $969,659,000 after buying an additional 2,569,044 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Pioneer Natural Resources by 2.0% during the first quarter. Northern Trust Corp now owns 2,568,917 shares of the oil and gas development company’s stock valued at $642,307,000 after buying an additional 51,444 shares during the last quarter. Legal & General Group Plc increased its position in shares of Pioneer Natural Resources by 9.6% during the second quarter. Legal & General Group Plc now owns 1,800,616 shares of the oil and gas development company’s stock worth $401,682,000 after acquiring an additional 157,273 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Pioneer Natural Resources by 1.3% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,628,028 shares of the oil and gas development company’s stock worth $363,181,000 after acquiring an additional 21,611 shares during the last quarter. 89.75% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
PXD has been the subject of a number of analyst reports. KeyCorp cut their price target on Pioneer Natural Resources from $290.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, December 8th. Wells Fargo & Company initiated coverage on Pioneer Natural Resources in a report on Tuesday. They set an “underweight” rating and a $225.00 price target for the company. Citigroup increased their price target on Pioneer Natural Resources to $255.00 in a research report on Thursday, November 17th. Raymond James cut their price objective on shares of Pioneer Natural Resources from $315.00 to $310.00 and set a “strong-buy” rating on the stock in a report on Monday, October 24th. Finally, Piper Sandler increased their target price on shares of Pioneer Natural Resources from $346.00 to $347.00 and gave the company an “overweight” rating in a report on Thursday, November 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $274.94.
Pioneer Natural Resources Stock Performance
Pioneer Natural Resources (NYSE:PXD – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The oil and gas development company reported $7.48 EPS for the quarter, beating analysts’ consensus estimates of $7.43 by $0.05. Pioneer Natural Resources had a return on equity of 31.82% and a net margin of 30.33%. The firm had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $6.56 billion. As a group, equities analysts anticipate that Pioneer Natural Resources will post 30.73 EPS for the current fiscal year.
Pioneer Natural Resources Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were paid a dividend of $5.71 per share. This represents a $22.84 dividend on an annualized basis and a dividend yield of 9.84%. The ex-dividend date was Tuesday, November 29th. Pioneer Natural Resources’s payout ratio is currently 15.69%.
Pioneer Natural Resources Profile
Pioneer Natural Resources Co operates as an independent oil and gas exploration and production company. The firm engages in hydrocarbon exploration in the Cline Shale. It focuses on the operation of the Permian Basin, Eagle Ford Shale, Rockies, and West Panhandle projects. The company was founded by Scott Douglas Sheffield on April 2, 1997, and is headquartered in Irving, TX.
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