Evercore Wealth Management LLC reduced its position in shares of Pioneer Natural Resources (NYSE:PXD) by 19.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,757 shares of the oil and gas development company’s stock after selling 907 shares during the quarter. Evercore Wealth Management LLC’s holdings in Pioneer Natural Resources were worth $597,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Pioneer Natural Resources during the first quarter worth approximately $28,000. Essex Investment Management Co. LLC acquired a new stake in Pioneer Natural Resources during the first quarter valued at $30,000. Parkside Financial Bank & Trust grew its stake in Pioneer Natural Resources by 82.6% in the first quarter. Parkside Financial Bank & Trust now owns 199 shares of the oil and gas development company’s stock valued at $32,000 after purchasing an additional 90 shares in the last quarter. Vantage Consulting Group Inc acquired a new position in Pioneer Natural Resources in the 4th quarter worth about $26,000. Finally, Childress Capital Advisors LLC acquired a new position in Pioneer Natural Resources in the 4th quarter worth about $28,000. Institutional investors own 79.80% of the company’s stock.
Shares of NYSE PXD opened at $145.09 on Thursday. The company has a market cap of $35.39 billion, a price-to-earnings ratio of -50.91, a PEG ratio of 1.33 and a beta of 1.93. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 0.34. Pioneer Natural Resources has a 1 year low of $76.58 and a 1 year high of $175.37. The company has a 50-day simple moving average of $157.76.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 14th. Shareholders of record on Wednesday, June 30th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a $2.24 annualized dividend and a yield of 1.54%. Pioneer Natural Resources’s dividend payout ratio is presently 136.59%.
PXD has been the topic of several research reports. Truist lowered Pioneer Natural Resources from a “buy” rating to a “hold” rating and set a $190.00 target price on the stock. in a research report on Thursday, May 6th. Cowen raised their price target on shares of Pioneer Natural Resources from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, April 5th. Citigroup raised their price objective on Pioneer Natural Resources from $206.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 13th. KeyCorp raised their price objective on Pioneer Natural Resources from $178.00 to $182.00 and gave the company an “overweight” rating in a research note on Thursday, June 10th. Finally, Credit Suisse Group lifted their target price on shares of Pioneer Natural Resources from $172.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, April 5th. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $187.72.
Pioneer Natural Resources Company 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 Permian Basin in West Texas. As of December 31, 2020, the company had proved undeveloped reserves and proved developed non-producing reserves of 31 million barrels of oil, 17 million barrels of NGLs, and 88 billion cubic feet of gas; and owned interests in 11 gas processing plants.
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