Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Mid Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Equities rose early in the quarter on the back of a broader appetite for risk, however, they eventually fell when interest rates crossed 4%. Value and growth stocks performed similarly in the market’s large- and mid-cap categories. On the other hand, value stocks proved to be more defensive in the small-cap group. The Russell Midcap Value Index fell 4.5%, with only the energy and financials sectors seeing gains. Healthcare, communication services, and consumer staples detracted. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Chartwell Mid Cap Value Fund highlighted stocks like Pioneer Natural Resources Company (NYSE:PXD) in the third quarter 2023 investor letter. Headquartered in Irving, Texas, Pioneer Natural Resources Company (NYSE:PXD) is an oil and gas exploration and production company. On December 22, 2023, Pioneer Natural Resources Company (NYSE:PXD) stock closed at $228.63 per share. One-month return of Pioneer Natural Resources Company (NYSE:PXD) was -3.81%, and its shares lost 0.21% of their value over the last 52 weeks. Pioneer Natural Resources Company (NYSE:PXD) has a market capitalization of $53.367 billion.
Carillon Chartwell Mid Cap Value Fund made the following comment about Pioneer Natural Resources Company (NYSE:PXD) in its Q3 2023 investor letter:
“The Russell Midcap Value Index declined 4.5%, with only the energy and financials sectors generating positive returns. The healthcare, communication services, and consumer staples sectors were the weakest. Pioneer Natural Resources Company (NYSE:PXD) produces oil and natural gas in the Permian Basin of West Texas and southeastern New Mexico. Its shares rallied along with oil prices, a key driver of revenue and earnings.”
A crowded drilling platform in the Western Canada Sedimentary Basin, the workers handling oil and natural gas equipment.
Pioneer Natural Resources Company (NYSE:PXD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held Pioneer Natural Resources Company (NYSE:PXD) at the end of third quarter which was 54 in the previous quarter.
We discussed Pioneer Natural Resources Company (NYSE:PXD) in another article and shared TimesSquare Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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