Carolinas Wealth Consulting LLC Sells 99 Shares of Pioneer Natural Resources (NYSE:PXD)

09 Dec 2023, 14:24 by Sarita Garza · The Markets Daily

Carolinas Wealth Consulting LLC decreased its position in shares of Pioneer Natural Resources (NYSE:PXD – Free Report) by 33.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194 shares of the oil and gas development company’s stock after selling 99 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Pioneer Natural Resources were worth $40,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PXD. Fiduciary Alliance LLC bought a new position in Pioneer Natural Resources in the second quarter valued at approximately $30,000. Ancora Advisors LLC lifted its stake in Pioneer Natural Resources by 77.4% in the first quarter. Ancora Advisors LLC now owns 149 shares of the oil and gas development company’s stock valued at $30,000 after buying an additional 65 shares in the last quarter. Solstein Capital LLC bought a new position in Pioneer Natural Resources in the second quarter valued at approximately $31,000. Dividend Assets Capital LLC bought a new position in Pioneer Natural Resources in the second quarter valued at approximately $37,000. Finally, KB Financial Partners LLC bought a new position in Pioneer Natural Resources in the first quarter valued at approximately $38,000. Institutional investors own 82.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Pioneer Natural Resources from $224.00 to $269.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. Truist Financial lowered their price objective on shares of Pioneer Natural Resources from $255.00 to $238.00 and set a “hold” rating on the stock in a report on Friday, November 17th. BMO Capital Markets downgraded shares of Pioneer Natural Resources from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Roth Mkm reiterated a “buy” rating and issued a $245.00 price objective on shares of Pioneer Natural Resources in a report on Friday, October 6th. Finally, Raymond James reiterated a “market perform” rating on shares of Pioneer Natural Resources in a report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $258.38.

Check Out Our Latest Research Report on Pioneer Natural Resources

Pioneer Natural Resources Trading Up 1.1 %

PXD stock opened at $223.05 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.70. The company has a fifty day moving average price of $236.55 and a two-hundred day moving average price of $226.01. Pioneer Natural Resources has a one year low of $177.26 and a one year high of $257.76. The stock has a market cap of $52.04 billion, a price-to-earnings ratio of 10.65 and a beta of 1.31.

Pioneer Natural Resources (NYSE:PXD – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas development company reported $5.83 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.30. Pioneer Natural Resources had a net margin of 26.52% and a return on equity of 23.48%. The firm had revenue of $5 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Equities analysts anticipate that Pioneer Natural Resources will post 21.46 EPS for the current year.

Pioneer Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Thursday, November 30th will be given a dividend of $3.20 per share. This represents a $12.80 dividend on an annualized basis and a yield of 5.74%. This is a boost from Pioneer Natural Resources’s previous quarterly dividend of $1.84. The ex-dividend date is Wednesday, November 29th. Pioneer Natural Resources’s payout ratio is 23.88%.

Pioneer Natural Resources Company Profile

(Free Report)

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.

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