Investment Management of Virginia LLC grew its stake in Pioneer Natural Resources (NYSE:PXD) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,597 shares of the oil and gas development company’s stock after acquiring an additional 335 shares during the period. Investment Management of Virginia LLC’s holdings in Pioneer Natural Resources were worth $1,072,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new position in Pioneer Natural Resources in the 2nd quarter worth about $29,000. Essex Investment Management Co. LLC bought a new position in Pioneer Natural Resources in the 1st quarter worth about $30,000. Parkside Financial Bank & Trust grew its stake in Pioneer Natural Resources by 82.6% in the 1st quarter. Parkside Financial Bank & Trust now owns 199 shares of the oil and gas development company’s stock worth $32,000 after acquiring an additional 90 shares in the last quarter. KB Financial Partners LLC bought a new position in Pioneer Natural Resources in the 1st quarter worth about $35,000. Finally, Column Capital Advisors LLC bought a new position in Pioneer Natural Resources in the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 86.80% of the company’s stock.
A number of equities analysts have commented on the stock. Raymond James upped their target price on shares of Pioneer Natural Resources from $245.00 to $253.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 27th. Barclays upped their price target on shares of Pioneer Natural Resources from $193.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 3rd. Piper Sandler upped their price target on shares of Pioneer Natural Resources from $216.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, July 22nd. The Goldman Sachs Group raised shares of Pioneer Natural Resources from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, September 9th. Finally, Citigroup upped their price target on shares of Pioneer Natural Resources from $206.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 13th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Pioneer Natural Resources presently has an average rating of “Buy” and a consensus target price of $191.57.
Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings data on Sunday, August 1st. The oil and gas development company reported $2.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.56 by ($0.01). The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.47 billion. Pioneer Natural Resources had a return on equity of 7.67% and a net margin of 3.49%. The firm’s revenue was up 298.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.32) EPS. Analysts predict that Pioneer Natural Resources will post 12.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Thursday, September 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.24 annualized dividend and a yield of 1.40%. Pioneer Natural Resources’s dividend payout ratio is presently 368.29%.
About Pioneer Natural Resources
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 in the operation of 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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