5 Best Rebound Stocks to Buy Now

3. Pioneer Natural Resources Company (NYSE: PXD)

Number of Hedge Fund Holders: 40

Pioneer Natural Resources Company (NYSE: PXD) is a Texas-based energy firm. It explores for, develops, and produces oil, natural gas liquids, and gas. The firm has operations mostly in the Permian Basin. Pioneer Natural has undeveloped and developed reserves of 31 million barrels of oil, 17 million barrels of natural gas liquids, and 88 billion cubic feet of gas. It also has stakes in 11 gas processing plants. The firm was founded in 1997 and is placed third on our list of 10 best rebound stocks to buy now.

As the demand for oil and gas rises post-pandemic, the firm is uniquely placed to benefit from the surge in demand for the two fossil fuels from industrial and residential consumers. On April 14, oil prices hit their highest since March on the back of this increased demand.

Out of the hedge funds being tracked by Insider Monkey, Boston-based investment firm Adage Capital Management held the most shares in the firm – 1.1 million – worth more than $131 million. Two Sigma Advisors was 2nd with shares of $107 million.