Pioneer Natural Resources (PXD): Why Hedge Fund Sentiment Remains Strong

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Pioneer Natural Resources (NYSE:PXD) but similarly valued. These stocks are TD Ameritrade Holding Corp. (NYSE:AMTD), KKR & Co. L.P. (NYSE:KKR), The Progressive Corporation (NYSE:PGR), and Ameriprise Financial, Inc. (NYSE:AMP). This group of stocks’ market caps resemble PXD’s market cap.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $504 million. That figure was $4.07 billion in PXD’s case. Ameriprise Financial, Inc. (NYSE:AMP) is the most popular stock in this table. On the other hand TD Ameritrade Holding Corp. (NYSE:AMTD) is the least popular one with only 22 bullish hedge fund positions. Compared to these stocks Pioneer Natural Resources (NYSE:PXD) is far more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None