4. Pioneer Natural Resources (NYSE:PXD)
– Investors with Long Positions (as of December 31): 57
– Aggregate Value of Investors’ Holdings (as of December 31): $4.07 Billion
There were 57 smart money investors from our database with stakes in Pioneer Natural Resources (NYSE:PXD) at the end of December 2015, which accumulated 21.70% of the company’s total outstanding shares, as compared with 58 registered at the end of the third quarter. Meanwhile, the aggregate value of long positions declined by approximately 4% quarter-on-quarter to $4.07 billion. The independent oil and gas exploration and production company primarily focuses on its operations in the Spraberry/Wolfcamp oil field in West Texas, which has an estimate remaining productive life of more than 40 years. The Spraberry/Wolfcamp field accounts for 70% of the company’s total proved oil and gas reserves. In the meantime, Pioneer Natural’s 2016 capital budget amounts to $2.0 billion, with $1.85 billion to be channeled to drilling operations and $150 million to vertical integration, buildings, and other additions. The company’s management anticipates that net cash flows from operating activities, cash on hand, proceeds from a divestiture, and proceeds from equity issuance in early 2016 will be sufficient to fund its planned capital expenditures and debt obligations. The shares of Pioneer are 20% in the red over the past 12 months, but are down only by 1% year-to-date. Stephen Mandel’s Lone Pine Capital added a 2.40 million-share position in Pioneer Natural Resources (NYSE:PXD) to its portfolio during the December quarter.
Follow Pioneer Natural Resources Co (NYSE:PXD)
Follow Pioneer Natural Resources Co (NYSE:PXD)
3. Macquarie Infrastructure Corp (NYSE:MIC)
– Investors with Long Positions (as of December 31): 58
– Aggregate Value of Investors’ Holdings (as of December 31): $1.32 Billion
The hedge funds sentiment towards Macquarie Infrastructure Corp (NYSE:MIC) was negative in the fourth quarter of 2015, as the number of money managers with positions in the company dropped to 58 from 69 quarter-on-quarter. Similarly, the value of hedge funds’ holdings shrank by 10% over the quarter to $1.32 billion. This pool of investors amassed nearly 23% of the company’s outstanding common stock heading into 2016. The company operates and invests in a group of businesses that include: bulk liquid terminals business called International-Matex Tank Terminals (IMTT); Atlantic Aviation, which provides fuel, terminal, and aircraft hangaring to owners of U.S. airports; Contracted Power and Energy (CP&E) Segment; and Hawaii Gas. Macquarie Infrastructure pays an extremely attractive annual dividend payment of $4.52 per share, which denotes a current dividend yield of 7.48%. However, investors are concerned that the company’s high debt load, which totals $2.83 billion as of December 31, might represent a threat to this highly-attractive dividend payment. Macquarie has a consolidated cash balance of only $22.4 million as of December 31, but has a total available capacity under its revolving credit facilities of $1.15 billion. Robert Boucai’s Newbrook Capital Advisors reported owning 1.05 million shares of Macquarie Infrastructure Corp (NYSE:MIC) in the latest round of 13Fs.
