5 Dogs of the S&P 500

1. Pioneer Natural Resources Company (NYSE:PXD)

Dividend Yield as of June 22: 11.41%

Pioneer Natural Resources Company (NYSE:PXD) tops our list of the dogs of the S&P 500 stocks. The American exploration and production company pays a quarterly dividend of $3.34 per share. It has been making regular dividend payments to shareholders since 2004. The stock has a dividend yield of 11.41%, as of June 22.

At the end of Q1 2023, 45 hedge funds tracked by Insider Monkey were long Pioneer Natural Resources Company (NYSE:PXD). The collective value of stakes owned by these hedge funds is over $1.3 billion.

Ave Maria mentioned Pioneer Natural Resources Company (NYSE:PXD) in its Q1 2023 investor letter. Here is what the firm has to say:

“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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