Telemark Asset Management Lowers stake in Pioneer Natural Resources (PXD)

Pioneer Natural Resources (PXD) : Telemark Asset Management reduced its stake in Pioneer Natural Resources by 52.0% during the most recent quarter end. The investment management company now holds a total of 120,000 shares of Pioneer Natural Resources which is valued at $19.6 Million after selling 130,000 shares in Pioneer Natural Resources , the firm said in a disclosure report filed with the SEC on May 12, 2016.Pioneer Natural Resources makes up approximately 4.69% of Telemark Asset Management’s portfolio.

Other Hedge Funds, Including , Tower Bridge Advisors boosted its stake in PXD in the latest quarter, The investment management firm added 60 additional shares and now holds a total of 2,110 shares of Pioneer Natural Resources which is valued at $345,175. Pioneer Natural Resources makes up approx 0.04% of Tower Bridge Advisors’s portfolio.Comerica Bank boosted its stake in PXD in the latest quarter, The investment management firm added 5,812 additional shares and now holds a total of 52,426 shares of Pioneer Natural Resources which is valued at $8.6 Million. Pioneer Natural Resources makes up approx 0.08% of Comerica Bank’s portfolio.Sentry Investment Management reduced its stake in PXD by selling 968 shares or 8.65% in the most recent quarter. The Hedge Fund company now holds 10,220 shares of PXD which is valued at $1.7 Million. Pioneer Natural Resources makes up approx 0.08% of Sentry Investment Management’s portfolio. Connable Office Inc added PXD to its portfolio by purchasing 12,774 company shares during the most recent quarter which is valued at $2.1 Million. Pioneer Natural Resources makes up approx 0.58% of Connable Office Inc’s portfolio. Alexandria Capital sold out all of its stake in PXD during the most recent quarter. The investment firm sold 460 shares of PXD which is valued $76,406.

Pioneer Natural Resources opened for trading at $163.5 and hit $165.53 on the upside on Friday, eventually ending the session at $164.34, with a gain of 0.92% or 1.5 points. The heightened volatility saw the trading volume jump to 16,43,917 shares. Company has a market cap of $26,879 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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