Looks like a large wound (and callus tissue around the edge of it) hiding under the sap. The sap is actually protecting the wound from insects, fungus, etc. Are you sure you didn't notice a wound there before the sap-leak? Whatever it is, not sure there's anything to be able to do.

Definitely had not noticed any wound - doesn’t mean I didn’t miss it earlier, though.

The last two pictures are almost too close to really see the whole wound.

Can you take a picture a couple of feet a way so we can see the entire area around the wound?

Thanks!

The lower trunk of the tree is wet from sprinklers running. The wound is higher than my head, so not likely it was an errant jab from a yard tool.
We had another pine tree removed back in April because it developed a crack high in the tree. The arborist who looked at it then, as well as the tree service who took it down, were both of the opinion that first one had been struck by lightning several years in the past. But now I am wondering about beetles.

The whitish sap is a general response to a variety of issues of a pine tree.

The missing bark is puzzling, possibly an old branch socket?

In your third picture down, there appears to be a small thick area of sap flowing, with beetle frass to the left, a sign of the tree having a beetle issue at that spot.

I don't think the damage is from a lightning strike.

Not knowing the particular type of pine tree you have, I'll still say that trees, will begin to decline when they reach the upper limits of their life expectancy.

You may just want it removed or pay an aborist to analyze it further.

IMO: Possibly the tree will encapsulate the wound, the sap will stop flowing and the few beetles attacking the tree will be stopped by the trees own defensive mechanism and you'll get a few to several more years of enjoying your pine.

On the down side, the tree will continue to decline and in a few years, will have to be removed anyways.

The rationale here is If the tree is out in the open, away from it falling on anything valuable, like buildings or vehicles, you could monitor things over the next couple of years, to see what the tree does. Then decide what to do about it.

@L.D. Johnson, from your last pic, it doesn't look very serious to me, and I'm thinking the tree will be OK. When I trim branches off of my pines, sap will leak out and drain down like yours' shows.

Thank you for your perspectives, I appreciate it. I did place a call to get a professional out to look at it because it could definitely take out my brand new roof or my neighbor’s if it decides to come down of its own inclination. Sure would hate to lose ~ 50 year-old trees in six months.