The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Pioneer Natural Resources Co. shares valued at $522,242 were sold by GOBE PHILLIP A on Mar 28 ’24. At $261.12 per share, GOBE PHILLIP A sold 2,000 shares. The insider’s holdings dropped to 11,132 shares worth approximately $3.0 million following the completion of this transaction.
Also, Washburn Christopher L sold 1,416 shares, netting a total of over 369,512 in proceeds. Following the sale of shares at $260.95 each, the insider now holds 4,990 shares.
Before that, KLEINMAN MARK H had sold 4,350 shares from its account. In a trade valued at $1,105,248, the EVP & General Counsel traded Pioneer Natural Resources Co. shares for $254.08 each. Upon closing the transaction, the insider’s holdings decreased to 4,350 shares, worth approximately $12.28 million.
As published in a research note from Argus on November 24, 2023, Pioneer Natural Resources Co. [PXD] has been rated down from a Buy to a Sell. Analysts at Bernstein downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid October. As of October 16, 2023, BMO Capital Markets has decreased its “an Outperform” rating to a “Market perform” for PXD. Earlier on August 16, 2023, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for PXD stock which previously was a “a Neutral”.
Analyzing PXD Stock Performance
During the last five days, there has been a surge of approximately 3.78%. Over the course of the year, Pioneer Natural Resources Co. shares have jumped approximately 20.66%. Shares of the company reached a 52-week high of $270.39 on 04/03/24 and a 52-week low of $214.23 on 01/22/24. A 50-day SMA is recorded $240.70, while a 200-day SMA reached $231.52. Nevertheless, trading volume fell to 1.29 million shares from 1.55 million shares the previous day.
Support And Resistance Levels for Pioneer Natural Resources Co. (PXD)
According to the 24-hour chart, there is a support level at 268.49, which, if violated, would cause prices to drop to 267.14. In the upper region, resistance lies at 270.77. The next price resistance is at 271.70. RSI (Relative Strength Index) is 85.30 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.26, which suggests the price will increase in the coming days. Percent R is at 2.58%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Pioneer Natural Resources Co. subject to short interest?
Stocks of Pioneer Natural Resources Co. saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.29 million shares to 6.33 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 6.62 million shares. A decline of -4.58% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.47 of the overall float, the days-to-cover ratio (short ratio) decline to 2.47.
