Pioneer Natural Resources (PXD): The Most Popular Energy Stock Among Top Hedge Funds

Seeing as Pioneer Natural Resources (NYSE:PXD) has witnessed declining sentiment from hedge fund managers, it’s safe to say that there is a sect of money managers that slashed their entire stakes last quarter. It’s worth mentioning that Andreas Halvorsen’s Viking Global dropped the biggest position of all the hedgies tracked by Insider Monkey, comprising about $206.9 million in stock. Stephen Mandel’s fund, Lone Pine Capital, also dumped its stock, about $201 million worth. These moves are important to note, as total hedge fund interest dropped by 2 funds last quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Pioneer Natural Resources (NYSE:PXD) but similarly valued. These stocks are CBS Corporation (NYSE:CBS), Ventas, Inc. (NYSE:VTR), CRH PLC (ADR) (NYSE:CRH), and DISH Network Corp. (NASDAQ:DISH). This group of stocks’ market values match PXD’s market value.

As you can see these stocks had an average of 34.75 hedge funds with bullish positions and the average amount invested in these stocks was $1.59 billion. That figure was $4.12 billion in PXD’s case. DISH Network Corp. (NASDAQ:DISH) is the most popular stock in this table. On the other hand CRH PLC (ADR) (NYSE:CRH) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Pioneer Natural Resources (NYSE:PXD) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, and that it also remains their top energy play, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None