Highland Capital Management Lp Lowers stake in Pioneer Natural Resources (PXD)

Pioneer Natural Resources (PXD) : Highland Capital Management Lp reduced its stake in Pioneer Natural Resources by 12.7% during the most recent quarter end. The investment management company now holds a total of 138,067 shares of Pioneer Natural Resources which is valued at $24,371,587 after selling 20,083 shares in Pioneer Natural Resources , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Pioneer Natural Resources makes up approximately 1.30% of Highland Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Cushing Asset Management Lp reduced its stake in PXD by selling 380 shares or 1.02% in the most recent quarter. The Hedge Fund company now holds 36,796 shares of PXD which is valued at $6,495,230. Pioneer Natural Resources makes up approx 0.24% of Cushing Asset Management Lp’s portfolio. Cipher Capital Lp added PXD to its portfolio by purchasing 73,826 company shares during the most recent quarter which is valued at $13,031,766. Pioneer Natural Resources makes up approx 0.86% of Cipher Capital Lp’s portfolio.Blackrock Advisors reduced its stake in PXD by selling 1,067,433 shares or 47.23% in the most recent quarter. The Hedge Fund company now holds 1,192,668 shares of PXD which is valued at $210,529,755. Pioneer Natural Resources makes up approx 0.22% of Blackrock Advisors’s portfolio.Wafra Investment Advisory Group Inc Ny reduced its stake in PXD by selling 101,644 shares or 69.47% in the most recent quarter. The Hedge Fund company now holds 44,665 shares of PXD which is valued at $7,884,266. Pioneer Natural Resources makes up approx 0.94% of Wafra Investment Advisory Group Inc Ny’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in PXD in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 21,505 shares of Pioneer Natural Resources which is valued at $3,507,681. Pioneer Natural Resources makes up approx 0.08% of Oregon Public Employees Retirement Fund’s portfolio.

Pioneer Natural Resources opened for trading at $184.48 and hit $188.6 on the upside on Wednesday, eventually ending the session at $188.31, with a gain of 2.62% or 4.81 points. The heightened volatility saw the trading volume jump to 2,035,364 shares. Company has a market cap of $31,939 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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