Short Interest in Pioneer Natural Resources (NYSE:PXD) Declines By 31.8%

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

PXD has been the topic of several analyst reports. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Friday, April 26th. Goldman Sachs Group lowered Encana to a “buy” rating in a research report on Friday, April 12th. Citigroup increased their target price on Walt Disney from $126.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Imperial Capital lowered Denbury Resources from an “outperform” rating to an “in-line” rating in a research report on Wednesday, May 8th. Finally, Barclays increased their target price on Worldpay from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $203.70.

Shares of PXD traded down $1.74 during trading hours on Thursday, reaching $144.86. 1,050,618 shares of the company’s stock traded hands, compared to its average volume of 1,840,461. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 0.88 and a beta of 1.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.99 and a quick ratio of 0.89. Pioneer Natural Resources has a twelve month low of $119.08 and a twelve month high of $193.03. The stock has a fifty day simple moving average of $146.83.

Pioneer Natural Resources (NYSE:PXD) last issued 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 company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.19 billion. Pioneer Natural Resources had a return on equity of 9.31% and a net margin of 11.89%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. On average, research analysts forecast that Pioneer Natural Resources will post 9.12 earnings per share for the current fiscal year.

In other Pioneer Natural Resources news, CAO Margaret Montemayor sold 888 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.38, for a total value of $136,201.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.91% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Pioneer Natural Resources by 63.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,081 shares of the oil and gas development company’s stock worth $537,000 after buying an additional 1,585 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Pioneer Natural Resources by 12.0% in the 4th quarter. Advisor Group Inc. now owns 9,411 shares of the oil and gas development company’s stock worth $1,237,000 after buying an additional 1,008 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of Pioneer Natural Resources by 25.9% in the 4th quarter. Fiera Capital Corp now owns 1,549 shares of the oil and gas development company’s stock worth $204,000 after buying an additional 319 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Pioneer Natural Resources in the 4th quarter worth about $1,055,000. Finally, Commonwealth Bank of Australia increased its holdings in shares of Pioneer Natural Resources by 75.5% in the 4th quarter. Commonwealth Bank of Australia now owns 9,566 shares of the oil and gas development company’s stock worth $1,252,000 after buying an additional 4,115 shares during the last quarter. 87.82% of the stock is currently owned by hedge funds and other institutional investors.

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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