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

Pioneer Natural Resources (NYSE:PXD) saw a large 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 shares of the company are sold short. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is currently 1.7 days.

PXD has been the topic of a number of research reports. SunTrust Banks cut shares of SUNDANCE ENERGY/S to a “hold” rating in a report on Monday, July 8th. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Friday, April 26th. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays lifted their price objective on shares of Worldpay from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, KeyCorp lifted their price objective on shares of WPX Energy from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Pioneer Natural Resources has an average rating of “Buy” and a consensus price target of $203.55.

In related news, CAO Margaret Montemayor sold 888 shares of Pioneer Natural Resources stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.38, for a total value of $136,201.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.91% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in Pioneer Natural Resources by 2.3% in the second quarter. Nisa Investment Advisors LLC now owns 52,990 shares of the oil and gas development company’s stock worth $8,153,000 after acquiring an additional 1,200 shares in the last quarter. CENTRAL TRUST Co grew its position in Pioneer Natural Resources by 3.7% in the second quarter. CENTRAL TRUST Co now owns 12,123 shares of the oil and gas development company’s stock worth $1,756,000 after acquiring an additional 438 shares in the last quarter. Patten Group Inc. purchased a new position in Pioneer Natural Resources in the second quarter worth $219,000. Legacy Bridge LLC purchased a new position in Pioneer Natural Resources in the second quarter worth $200,000. Finally, Harbour Capital Advisors LLC grew its position in Pioneer Natural Resources by 21.1% in the second quarter. Harbour Capital Advisors LLC now owns 5,253 shares of the oil and gas development company’s stock worth $808,000 after acquiring an additional 916 shares in the last quarter. Hedge funds and other institutional investors own 87.82% of the company’s stock.

Shares of PXD traded down $0.57 during mid-day 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 business has a fifty day simple moving average of $146.81. The firm has a market cap of $24.40 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 0.88 and a beta of 1.09. The company has a current ratio of 0.99, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. Pioneer Natural Resources has a 1 year low of $119.08 and a 1 year high of $193.03.

Pioneer Natural Resources (NYSE:PXD) last released its quarterly earnings results on Monday, May 6th. The oil and gas development company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.19 billion. Pioneer Natural Resources had a net margin of 11.89% and a return on equity of 9.31%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. Equities analysts anticipate that Pioneer Natural Resources will post 9.01 EPS for the current fiscal 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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