Community Trust & Investment Co. Lowers Holdings in Pioneer Natural Resources (NYSE:PXD)

Community Trust & Investment Co. cut its position in Pioneer Natural Resources (NYSE:PXD) by 0.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 91,465 shares of the oil and gas development company’s stock after selling 437 shares during the quarter. Pioneer Natural Resources accounts for approximately 1.5% of Community Trust & Investment Co.’s investment portfolio, making the stock its 18th biggest holding. Community Trust & Investment Co.’s holdings in Pioneer Natural Resources were worth $18,950,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new position in Pioneer Natural Resources in the first quarter valued at about $42,000. Cetera Advisor Networks LLC boosted its holdings in shares of Pioneer Natural Resources by 59.5% in the first quarter. Cetera Advisor Networks LLC now owns 2,074 shares of the oil and gas development company’s stock worth $519,000 after buying an additional 774 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Pioneer Natural Resources by 52.1% during the 1st quarter. Cetera Investment Advisers now owns 3,249 shares of the oil and gas development company’s stock valued at $812,000 after acquiring an additional 1,113 shares during the period. Baird Financial Group Inc. grew its stake in shares of Pioneer Natural Resources by 22.6% during the 1st quarter. Baird Financial Group Inc. now owns 108,614 shares of the oil and gas development company’s stock valued at $27,157,000 after acquiring an additional 20,023 shares during the period. Finally, Mather Group LLC. raised its position in shares of Pioneer Natural Resources by 35.9% during the 1st quarter. Mather Group LLC. now owns 3,430 shares of the oil and gas development company’s stock valued at $858,000 after purchasing an additional 907 shares during the period. Institutional investors own 82.72% of the company’s stock.

Pioneer Natural Resources Price Performance

Shares of Pioneer Natural Resources stock traded up $0.06 during trading hours on Tuesday, reaching $235.34. 388,678 shares of the company’s stock were exchanged, compared to its average volume of 2,127,212. The company has a market capitalization of $54.87 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.34 and a beta of 1.43. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 0.23. Pioneer Natural Resources has a 1 year low of $177.26 and a 1 year high of $274.70. The business has a fifty day moving average of $229.22 and a two-hundred day moving average of $214.82.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas development company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.12 by $0.37. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Pioneer Natural Resources had a return on equity of 25.53% and a net margin of 28.46%. As a group, research analysts predict that Pioneer Natural Resources will post 20.43 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Wednesday, September 6th will be given a dividend of $1.84 per share. This represents a $7.36 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, September 5th. Pioneer Natural Resources’s dividend payout ratio is currently 21.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Pioneer Natural Resources from $245.00 to $265.00 and gave the company a “hold” rating in a report on Monday, August 28th. Piper Sandler increased their price target on Pioneer Natural Resources from $311.00 to $332.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. Evercore ISI dropped their price objective on shares of Pioneer Natural Resources from $253.00 to $243.00 in a research note on Monday, July 10th. StockNews.com started coverage on Pioneer Natural Resources in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of Pioneer Natural Resources from $275.00 to $281.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $263.15.

Pioneer Natural Resources Profile

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. Pioneer Natural Resources Company was founded in 1997 and is headquartered in Irving, Texas.