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Should You Hold Pioneer Natural Resources Company (PXD)?

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 6.87% compared to the MSCI All Country World Index’s 7.30% return. You can check the top 5 holdings of the fund to know its best picks in 2023.

Ave Maria World Equity Fund highlighted stocks like Pioneer Natural Resources Company (NYSE:PXD) in the first quarter 2023 investor letter. Headquartered in Irving, Texas, Pioneer Natural Resources Company (NYSE:PXD) is an oil and gas exploration and production company. On June 7, 2023, Pioneer Natural Resources Company (NYSE:PXD) stock closed at $206.81 per share. One-month return of Pioneer Natural Resources Company (NYSE:PXD) was -0.19%, and its shares lost 25.28% of their value over the last 52 weeks. Pioneer Natural Resources Company (NYSE:PXD) has a market capitalization of $48.339 billion.

Ave Maria World Equity Fund made the following comment about Pioneer Natural Resources Company (NYSE:PXD) in its Q1 2023 investor letter:

"Pioneer Natural Resources Company (NYSE:PXD) is one of the largest independent E&P companies in the United States focused on the Permian Basin. Pioneer is a low-cost producer in the Permian basin and can generate free cash flow when the price of oil is more than $30 per barrel. Pioneer was one of the first companies in the industry to embrace a disciplined investment framework focused on returning excess capital to shareholders during periods of high realized pricing. This framework has materially benefited shareholders given the sharp rise in the price of crude oil."

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construction, drill, drilling, energy, equipment, exploration, fuel, gas, gasoline, holland, industrial, industry, maintenance, ocean, offshore, oil, petroleum, plant, platform, port, power, production, pump, refinery, rig, rotterdam, sea, sky, steel, technology, tower, well

Copyright: 1971yes / 123RF Stock Photo

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Pioneer Natural Resources Company (NYSE:PXD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held PIONEER Pioneer Natural Resources Company (NYSE:PXD) at the end of first quarter 2023 which was 55 in the previous quarter.

We discussed Pioneer Natural Resources Company (NYSE:PXD) in another article and shared the list of dividend stocks with over 10% yield. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.