Alken Asset Management Ltd. Lowers stake in Pioneer Natural Resources (PXD)

Pioneer Natural Resources (PXD) : Alken Asset Management Ltd. reduced its stake in Pioneer Natural Resources by 4.85% during the most recent quarter end. The investment management company now holds a total of 460,613 shares of Pioneer Natural Resources which is valued at $75.4 Million after selling 23,500 shares in Pioneer Natural Resources , the firm said in a disclosure report filed with the SEC on May 11, 2016.Pioneer Natural Resources makes up approximately 7.51% of Alken Asset Management Ltd.’s portfolio.

Other Hedge Funds, Including , Norinchukin Bank The boosted its stake in PXD in the latest quarter, The investment management firm added 1,400 additional shares and now holds a total of 8,378 shares of Pioneer Natural Resources which is valued at $1.4 Million. Pioneer Natural Resources makes up approx 0.03% of Norinchukin Bank The’s portfolio.Mutual Of America Capital Management boosted its stake in PXD in the latest quarter, The investment management firm added 2,008 additional shares and now holds a total of 19,102 shares of Pioneer Natural Resources which is valued at $3.1 Million. Pioneer Natural Resources makes up approx 0.07% of Mutual Of America Capital Management’s portfolio.Ci Investments boosted its stake in PXD in the latest quarter, The investment management firm added 420 additional shares and now holds a total of 93,970 shares of Pioneer Natural Resources which is valued at $15 Million. Pioneer Natural Resources makes up approx 0.19% of Ci Investments’s portfolio.Commerce Bank boosted its stake in PXD in the latest quarter, The investment management firm added 149 additional shares and now holds a total of 3,022 shares of Pioneer Natural Resources which is valued at $501,954. Pioneer Natural Resources makes up approx 0.01% of Commerce Bank’s portfolio.

Pioneer Natural Resources opened for trading at $166.3 and hit $168.5 on the upside on Monday, eventually ending the session at $166.19, with a gain of 1.59% or 2.6 points. The heightened volatility saw the trading volume jump to 13,84,301 shares. Company has a market cap of $27,181 M.

On the company’s financial health, Pioneer Natural Resources reported $-0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $-0.75. The company had revenue of $685.00 million for the quarter, compared to analysts expectations of $752.01 million. The company’s revenue was down -21.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.03 EPS.

Many Wall Street Analysts have commented on Pioneer Natural Resources. Company shares were Reiterated by Wunderlich on Apr 27, 2016 to “Buy”, Firm has raised the Price Target to $ 177 from a previous price target of $128 .Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 183 from a previous price target of $165 .Company shares were Reiterated by Topeka Capital Markets on Apr 26, 2016 to “Buy”, Firm has raised the Price Target to $ 190 from a previous price target of $165 .

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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