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Here’s What Makes Pioneer Natural Resources (PXD) a Smart Investment Choice

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Carillon Tower Advisers, an investment management firm, published its “Carillon Scout Mid Cap Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The portfolio continues to be invested in a balance of companies that should do well in a cyclical recovery as well as in companies it believes to be secular winners, along with some defensive positions to help guard against rising interest rates. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Carillon Scout Mid Cap Fund mentioned Pioneer Natural Resources Company (NYSE:PXD) and explained its insights for the company. Founded in 1997, Pioneer Natural Resources Company (NYSE:PXD) is an Irving, Texas-based independent oil and gas exploration and production company with a $54.1 billion market capitalization. Pioneer Natural Resources Company (NYSE:PXD) delivered a 23.13% return since the beginning of the year, while its 12-month returns are up by 34.30%. The stock closed at $223.94 per share on July 01, 2022.

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."

Photo by Viktor Kharlashkin on Unsplash

Our calculations show that Pioneer Natural Resources Company (NYSE:PXD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Pioneer Natural Resources Company (NYSE:PXD) was in 54 hedge fund portfolios at the end of the first quarter of 2022, compared to 43 funds in the previous quarter. Pioneer Natural Resources Company (NYSE:PXD) delivered a -11.54% return in the past 3 months.

In April 2022, we also shared another hedge fund’s views on Pioneer Natural Resources Company (NYSE:PXD) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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