Fintel reports that on August 3, 2023, Truist Securities maintained coverage of Pioneer Natural Resources (NYSE:PXD) with a Hold recommendation.
Analyst Price Forecast Suggests 11.16% Upside
As of August 2, 2023, the average one-year price target for Pioneer Natural Resources is 253.38. The forecasts range from a low of 197.96 to a high of $326.55. The average price target represents an increase of 11.16% from its latest reported closing price of 227.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Pioneer Natural Resources is 16,544MM, a decrease of 18.85%. The projected annual non-GAAP EPS is 27.44.
What is the Fund Sentiment?
There are 2326 funds or institutions reporting positions in Pioneer Natural Resources. This is a decrease of 43 owner(s) or 1.82% in the last quarter. Average portfolio weight of all funds dedicated to PXD is 0.45%, a decrease of 8.73%. Total shares owned by institutions decreased in the last three months by 5.91% to 250,751K shares. 
The put/call ratio of PXD is 0.93, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 10,217K shares representing 4.37% ownership of the company. In it's prior filing, the firm reported owning 19,089K shares, representing a decrease of 86.83%. The firm decreased its portfolio allocation in PXD by 53.59% over the last quarter.
Capital International Investors holds 8,543K shares representing 3.65% ownership of the company. In it's prior filing, the firm reported owning 9,145K shares, representing a decrease of 7.05%. The firm decreased its portfolio allocation in PXD by 19.94% over the last quarter.
Massachusetts Financial Services holds 7,487K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 7,530K shares, representing a decrease of 0.57%. The firm decreased its portfolio allocation in PXD by 86.63% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,914K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 6,864K shares, representing an increase of 0.72%. The firm decreased its portfolio allocation in PXD by 16.83% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 6,828K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 6,878K shares, representing a decrease of 0.72%. The firm decreased its portfolio allocation in PXD by 4.53% over the last quarter.
Pioneer Natural Resources Background Information
(This description is provided by the company.)
Pioneer Natural Resources Company is an American energy company engaged in hydrocarbon exploration in the Cline Shale, which is part of the Spraberry Trend of the Permian Basin, where the company is the largest acreage holder. The company is organized in Delaware and headquartered in Irving, Texas.
Additional reading:
- Pioneer Natural Resources Reports Second Quarter 2023 Financial and Operating Results
- SECOND AMENDMENT TO CREDIT AGREEMENT
- Form of Amended and Restated Change in Control Agreement, dated February 8, 2023, between the Company and each of Scott D. Sheffield, Richard P. Dealy, Neal H. Shah, Mark S. Berg,
- Pioneer Natural Resources Reports First Quarter 2023 Financial and Operating Results
- Sixth Supplemental Indenture, dated March 29, 2023, by and between Pioneer Natural Resources Company and Computershare Trust Company, N.A. (as successor to Wells Fargo Bank, National Association).
This story originally appeared on Fintel.
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