Top 5 Stock Picks of Gavin Abrams’ Abrams Bison Investments

2. Pioneer Natural Resources Company (NYSE:PXD)

Stake Value in Abrams Bison Investment’s 13F Portfolio: $133.40 million

Percentage of Abrams Bison Investments portfolio: 15.08%

Number of Hedge Funds: 56

Pioneer Natural Resources Company (NYSE:PXD) is an oil and gas exploration company. The year has been good for energy stocks which gave high returns to investors. Amongst these stocks Pioneer Natural Resources Company (NYSE:PXD) was a prominent name. The company has a good dividend history and has been paying dividends for 4 years. In August 2022, Pioneer Natural Resources Company (NYSE:PXD) reported a dividend of $1.10 with a 1.81% dividend yield.

Citi analyst Scott Gruber maintained a Buy rating on the shares and lowered the firm’s price target for Pioneer Natural from $260 to $257.

In its Q1 2022 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks, and Pioneer Natural Resources Company (NYSE:PXD) was one of them. Here is what the fund said:

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.