5 Best Gas Stocks To Buy Now

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In this article, we discuss 5 best gas stocks to buy now. If you want to see more stocks in this selection, check out 11 Best Gas Stocks To Buy Now

5. Pioneer Natural Resources Company (NYSE:PXD)

Number of Hedge Fund Holders: 49

Pioneer Natural Resources Company (NYSE:PXD) is an independent oil and gas exploration and production company in the United States, with operations in the Midland Basin in West Texas. The company explores for, develops, and produces oil, natural gas liquids, and gas. Pioneer Natural Resources Company (NYSE:PXD) declared on October 27 a $5.71 per share quarterly dividend. The dividend is distributable on December 15, to shareholders of record on November 30. The dividend yield on November 28 came in at 10.25%. 

On November 17, Piper Sandler analyst Mark Lear raised the price target on Pioneer Natural Resources Company (NYSE:PXD) to $347 from $346 and maintained an Overweight rating on the shares. The analyst updated his exploration and production models and fiscal 2023 outlook following the Q3 results.

Among the hedge funds tracked by Insider Monkey, 49 funds reported owning stakes worth $851.4 million in Pioneer Natural Resources Company (NYSE:PXD) at the end of Q3 2022, compared to 56 funds in the last quarter worth $696 million. Andrew Weiss’ Weiss Asset Management is the leading position holder in the company, with 1.2 million shares worth $273.5 million. 

Here is what Carillon Scout Mid Cap Fund has to say about Pioneer Natural Resources Company (NYSE:PXD) in its Q1 2022 investor letter:

“Pioneer Natural Resources (NYSE:PXD) performed well in a strong energy sector. Pioneer stood out recently with a pledge to return a large majority of free cash flow to shareowners through dividends and stock buybacks, and ended hedging to give shareowners more earnings and dividend potential should oil and gas prices continue to rise.”

Follow Pioneer Natural Resources Co (NYSE:PXD)

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