Howard Hughes Medical Institute buys $2,345,196 stake in Pioneer Natural Resources (PXD)

Pioneer Natural Resources (PXD) : Howard Hughes Medical Institute scooped up 1,480 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 3, 2016. The investment management firm now holds a total of 14,378 shares of Pioneer Natural Resources which is valued at $2,345,196.Pioneer Natural Resources makes up approximately 0.75% of Howard Hughes Medical Institute’s portfolio.

Other Hedge Funds, Including , Diam Ltd. reduced its stake in PXD by selling 633 shares or 2.07% in the most recent quarter. The Hedge Fund company now holds 29,964 shares of PXD which is valued at $4,887,428. Pioneer Natural Resources makes up approx 0.07% of Diam Ltd.’s portfolio. Moody Lynn Lieberson sold out all of its stake in PXD during the most recent quarter. The investment firm sold 7,664 shares of PXD which is valued $1,245,936.Ruane Cunniff Goldfarb Inc reduced its stake in PXD by selling 1,094 shares or 39.04% in the most recent quarter. The Hedge Fund company now holds 1,708 shares of PXD which is valued at $267,900. Renaissance Investment Group added PXD to its portfolio by purchasing 13,528 company shares during the most recent quarter which is valued at $2,121,867. Pioneer Natural Resources makes up approx 1.01% of Renaissance Investment Group’s portfolio.

Pioneer Natural Resources opened for trading at $169.75 and hit $172.5 on the upside on Monday, eventually ending the session at $170.65, with a gain of 1.52% or 2.56 points. The heightened volatility saw the trading volume jump to 20,59,831 shares. Company has a market cap of $28,944 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.

Many Wall Street Analysts have commented on Pioneer Natural Resources. Pioneer Natural Resources was Downgraded by Societe Generale to ” Sell” on Aug 4, 2016. Company shares were Upgraded by Barclays on Aug 2, 2016 to ” Overweight”, Firm has raised the Price Target to $ 175 from a previous price target of $152 .Pioneer Natural Resources was Upgraded by CapitalOne to ” Overweight” on Jul 28, 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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