Pioneer Natural Resources (NYSE:PXD) Sees Large Decrease in Short Interest

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Pioneer Natural Resources (NYSE:PXD) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 3,108,700 shares, a decline of 31.8% from the May 30th total of 4,558,800 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is currently 1.7 days.

In related news, CAO Margaret Montemayor sold 888 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $153.38, for a total transaction of $136,201.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.91% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Samlyn Capital LLC grew its holdings in shares of Pioneer Natural Resources by 40.1% during the fourth quarter. Samlyn Capital LLC now owns 204,408 shares of the oil and gas development company’s stock valued at $26,883,000 after buying an additional 58,467 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Pioneer Natural Resources during the first quarter valued at approximately $1,355,000. Hodges Capital Management Inc. bought a new position in Pioneer Natural Resources during the first quarter valued at approximately $206,000. Suntrust Banks Inc. lifted its position in Pioneer Natural Resources by 880.8% during the fourth quarter. Suntrust Banks Inc. now owns 39,643 shares of the oil and gas development company’s stock valued at $5,214,000 after purchasing an additional 35,601 shares during the period. Finally, Empire Life Investments Inc. lifted its position in Pioneer Natural Resources by 11.5% during the first quarter. Empire Life Investments Inc. now owns 104,251 shares of the oil and gas development company’s stock valued at $15,875,000 after purchasing an additional 10,722 shares during the period. Hedge funds and other institutional investors own 87.82% of the company’s stock.

PXD has been the topic of several research analyst reports. Morgan Stanley upgraded shares of to an “overweight” rating and set a GBX 400 ($5.23) price target on the stock in a research report on Friday. Goldman Sachs Group cut shares of Encana to a “buy” rating in a report on Friday, April 12th. Imperial Capital cut shares of Denbury Resources from an “outperform” rating to an “in-line” rating in a report on Wednesday, May 8th. Macquarie restated an “underperform” rating on shares of Mandom in a report on Monday, April 15th. Finally, S&P Equity Research restated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of Pioneer Natural Resources in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $203.55.

Shares of NYSE:PXD traded down $0.57 during trading on Friday, reaching $144.29. 1,029,591 shares of the stock traded hands, compared to its average volume of 1,364,896. The firm’s 50-day moving average price is $146.81. Pioneer Natural Resources has a 52-week low of $119.08 and a 52-week high of $193.03. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.99. The company has a market capitalization of $24.40 billion, a PE ratio of 22.87, a P/E/G ratio of 0.88 and a beta of 1.09.

Pioneer Natural Resources (NYSE:PXD) last posted its quarterly earnings results on Monday, May 6th. The oil and gas development company reported $1.83 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.22. Pioneer Natural Resources had a net margin of 11.89% and a return on equity of 9.31%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Analysts predict that Pioneer Natural Resources will post 9.01 earnings per share for the current year.

Pioneer Natural Resources Company Profile

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeast Colorado, and the West Panhandle field in the Texas Panhandle.

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