Latest Stocks: Rovida Advisors Inc. Invests $38.45 Million in Pioneer Natural Resources (PXD)

Latest Stocks: Rovida Advisors Inc. Invests $38.45 Million in Pioneer Natural Resources (PXD)

Rovida Advisors Inc. acquired a new stake in Pioneer Natural Resources (NYSE:PXD) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 206,500 shares of the oil and gas development company’s stock, valued at approximately $38,450,000. Pioneer Natural Resources accounts for about 6.6% of Rovida Advisors Inc.’s portfolio, making the stock its 9th largest position. Rovida Advisors Inc. owned 0.12% of Pioneer Natural Resources at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coconut Grove Bank boosted its position in Pioneer Natural Resources by 103.7% in the first quarter. Coconut Grove Bank now owns 552 shares of the oil and gas development company’s stock valued at $103,000 after buying an additional 281 shares during the last quarter. Winch Advisory Services LLC acquired a new position in Pioneer Natural Resources during the first quarter valued at about $112,000. Quadrant Capital Group LLC boosted its position in Pioneer Natural Resources by 6.2% in the first quarter. Quadrant Capital Group LLC now owns 615 shares of the oil and gas development company’s stock valued at $107,000 after buying an additional 36 shares during the last quarter. LBA Wealth Management LLC boosted its position in Pioneer Natural Resources by 44.2% in the fourth quarter. LBA Wealth Management LLC now owns 750 shares of the oil and gas development company’s stock valued at $135,000 after buying an additional 230 shares during the last quarter. Finally, Massey Quick & Co. LLC acquired a new position in Pioneer Natural Resources during the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Shares of Pioneer Natural Resources (PXD) opened at 165.51 on Tuesday. Pioneer Natural Resources has a 52 week low of $146.08 and a 52 week high of $199.83. The firm’s market capitalization is $28.15 billion. The firm has a 50-day moving average price of $172.27 and a 200-day moving average price of $182.06.

Several research firms have issued reports on PXD. Scotiabank reiterated a “buy” rating and issued a $245.00 price objective on shares of Pioneer Natural Resources in a research report on Monday, May 15th. Jefferies Group LLC set a $243.00 price objective on Pioneer Natural Resources and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Credit Suisse Group AG restated a “buy” rating on shares of Pioneer Natural Resources in a research report on Monday, May 15th. KLR Group restated a “buy” rating and issued a $273.00 price target (up previously from $254.00) on shares of Pioneer Natural Resources in a research report on Thursday, February 9th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $233.00 price target on shares of Pioneer Natural Resources in a research report on Friday, May 12th. Four research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $216.50. In other Pioneer Natural Resources news, EVP Chris J. Cheatwood sold 5,749 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $173.79, for a total value of $999,118.71. Following the transaction, the executive vice president now owns 45,110 shares in the company, valued at $7,839,666.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.

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