Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pioneer Natural Resources Company shares valued at $717,250 were sold by BERG MARK STEPHEN on Jun 08. At $286.90 per share, BERG MARK STEPHEN sold 2,500 shares. The insider’s holdings dropped to 47,046 shares worth approximately $10.01 million following the completion of this transaction.
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Also, Taylor Tyson L. sold 1,835 shares, netting a total of over 512,002 in proceeds. Following the sale of shares at $279.02 each, the insider now holds 4,876 shares.
Before that, BERG MARK STEPHEN had sold 2,500 shares from its account. In a trade valued at $686,025, the EVP, Corporate Operations traded Pioneer Natural Resources Company shares for $274.41 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $10.55 million.
Analysts at BofA Securities downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in mid July. As of July 06, 2022, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for PXD. Earlier on January 10, 2022, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for PXD stock which previously was a “a Buy”.
Analyzing PXD’s Price Performance
On Thursday, Pioneer Natural Resources Company [NYSE: PXD] plunged -3.54% to $212.86. The stock’s lowest price that day was $212.57, but it reached a high of $221.03 in the same session. During the last five days, there has been a drop of approximately -6.91%. Over the course of the year, Pioneer Natural Resources Company shares have jumped approximately 21.47%. Shares of the company reached a 52-week high of $288.46 on 05/31/22 and a 52-week low of $179.80 on 01/03/22. A 50-day SMA is recorded $238.22, while a 200-day SMA reached $222.49. Nevertheless, trading volume fell to 3.8 million shares from 3.53 million shares the previous day.
Support And Resistance Levels for Pioneer Natural Resources Company (PXD)
According to the 24-hour chart, there is a support level at 209.94, which, if violated, would cause prices to drop to 207.03. In the upper region, resistance lies at 218.40. The next price resistance is at 223.95. RSI (Relative Strength Index) is 41.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.03, which suggests the price will decrease in the coming days. Percent R is at 80.23%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Pioneer Natural Resources Company subject to short interest?
Stocks of Pioneer Natural Resources Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.55 million shares to 5.43 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.98 million shares. A decline of -10.13% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.6 of the overall float, the days-to-cover ratio (short ratio) decline to 1.6.
Which companies own the most shares of Pioneer Natural Resources Company (PXD)?
According to The Vanguard Group, Inc. filings, the company currently owns 21,088,842 shares, which is about 8.72% of the total PXD shares outstanding. The investor’s shares have plunged by -2,218,456 from its previous 13-F filing of 23307298.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $3,497,741,813. SSgA Funds Management, Inc. acquire a 1.17% interest valued at $3.34 billion while BlackRock Fund Advisors purchased a 1,141,800 stake. A total of -2,601,124 shares of Pioneer Natural Resources Company were bought by Wellington Management Co. LLP during the quarter, and 3,562,370 were bought by Fidelity Management & Research Co. In its current portfolio, Capital Research & Management Co holds 7,639,978 shares valued at $1.7 billion.
In terms of Pioneer Natural Resources Company share price expectations, FactSet research, analysts set an average price target of $296.90 in the next 12 months, up nearly 35.04% from the previous closing price of $220.68. Analysts anticipate Pioneer Natural Resources Company stock to reach $422.00 by 2022, with the lowest price target being $244.00. In spite of this, 34 analysts ranked Pioneer Natural Resources Company stock as an Overweight at the end of 2022. On November 08, 2021, Citigroup assigned a price target of “a Buy” to the stock and resumed coverage with a $216.