Steadfast Capital Management Lp buys $102,742,760 stake in Pioneer Natural Resources (PXD)

Pioneer Natural Resources (PXD) : Steadfast Capital Management Lp scooped up 119,105 additional shares in Pioneer Natural Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 582,046 shares of Pioneer Natural Resources which is valued at $102,742,760.Pioneer Natural Resources makes up approximately 2.64% of Steadfast Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Clough Capital Partners L P boosted its stake in PXD in the latest quarter, The investment management firm added 41,060 additional shares and now holds a total of 250,890 shares of Pioneer Natural Resources which is valued at $44,287,103. Pioneer Natural Resources makes up approx 2.22% of Clough Capital Partners L P’s portfolio.Tortoise Capital Advisors L.l.c. reduced its stake in PXD by selling 7,060 shares or 3.22% in the most recent quarter. The Hedge Fund company now holds 212,356 shares of PXD which is valued at $37,485,081. Pioneer Natural Resources makes up approx 0.26% of Tortoise Capital Advisors L.l.c.’s portfolio.Ci Investments reduced its stake in PXD by selling 24,780 shares or 26.37% in the most recent quarter. The Hedge Fund company now holds 69,190 shares of PXD which is valued at $11,630,147. Pioneer Natural Resources makes up approx 0.14% of Ci Investments’s portfolio.New Mexico Educational Retirement Board boosted its stake in PXD in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 19,067 shares of Pioneer Natural Resources which is valued at $3,110,018. Pioneer Natural Resources makes up approx 0.14% of New Mexico Educational Retirement Board’s portfolio.

Pioneer Natural Resources opened for trading at $178.03 and hit $180.34 on the upside on Thursday, eventually ending the session at $180.22, with a gain of 0.65% or 1.17 points. The heightened volatility saw the trading volume jump to 15,48,758 shares. Company has a market cap of $30,567 M.

On the company’s financial health, Pioneer Natural Resources reported $-0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.35. The company had revenue of $786.00 million for the quarter, compared to analysts expectations of $783.47 million. The company’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Investors should note that on Aug 25, 2016, Pioneer Natural Resources announced a cash dividend of $0.0400. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 12, 2016.

Many Wall Street Analysts have commented on Pioneer Natural Resources. Williams Capital Group Initiated Pioneer Natural Resources on Aug 29, 2016 to “Buy”, Price Target of the shares are set at $217.Pioneer Natural Resources was Initiated by Bernstein to “Outperform” on Aug 17, 2016. Pioneer Natural Resources was Downgraded by Societe Generale to ” Sell” on Aug 4, 2016.

Pioneer Natural Resources Company (Pioneer) is an independent oil and gas exploration and production company with operations in the United States. The Company focuses on production of oil natural gas liquid (NGLs) and gas through development drilling production enhancement activities and acquisitions of producing properties. The Company’s properties include Spraberry/Wolfcamp oil field located in West Texas; the liquid-rich Eagle Ford Shale field located in South Texas; Raton gas field located in southern Colorado; the West Panhandle gas and liquids field located in the Texas Panhandle and the Edwards gas field located in South Texas. The Company’s operations include well stimulation and hydraulic fracturing. The Company’s proved reserves include approximately 89 million Bbls (MMBbl) of oil 42 MMBbls of NGLs and 317 billion cubic feet (Bcf) of gas. The Company owns interests in six gas processing plants and eight treating facilities.

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